Watford businesses to decide on the future of Watford BID

Watford BID have launched a video highlighting the reasons why they believe they deserve a second 5-year term. Many residents in Watford are aware of Watford BID but not many understand exactly what they do and more importantly, how integral their work is to the success of Watford.

What is a BID and why are they so important?

Essentially, a BID (Business Improvement District) is a business-led and business funded body formed to improve a specific area in which a levy is charged on all business rate payers. This levy is used to develop projects and provide services which benefit businesses in the local area. This can include:

• Activities to increase visitors to the area
• Reducing overall business costs for levy members
• Marketing and promotion of the area such
• Lobbying councils/local government
• Working with local police to reduce anti-social behaviour

There is no limit on what projects or services that can be provided through a Business Improvement District. Some BIDS are more effective at certain tasks than others for a number of reasons but overall, the benefits BIDs offer to the various towns across Beds, Bucks & Herts is immeasurable.

Three reasons for Watford BID to get renewed

We have selected what we believe are the three main reasons why Watford BID should get renewed.

1. Watford BID offers a central point of contact

At a time when the Government don’t know if they are coming or going, having a central point for all information relating to Watford offers residents, visitors and business owners a much-needed level of clarity. Social distancing procedures and safety communication both need harmonisation to keep Watford Town safe.

Watford BID have been extremely informative on Social Media and in the district sharing key information such as this statement on the national lockdown from the Mayor of Watford.

Typically a Business Improvement District is within a local authority boundary but in April 2013 government introduced Cross Boundary Business Improvement Districts enabling Business Improvement Districts to operate across local authority boundaries.

2. Watford Restaurants & Bars will need support after the lockdowns end

Promoting Watford’s entertainment venues post-covid is going to need a lot of collaborative support post covid. Individual businesses taking to to social media to posts and update Facebook is not going to tempt the same numbers back to the district’s nightlife venues.

By having one organisation working alongside all the venues to promote Watford as an entertainment destination, visitors will hear one concise message that Watford is open for business.

3. Think of the benefits for residents and visitors

There have been calls for BIDs across The Three Counties to do more by some levy payers but in fairness, the amount of work involved in some of the projects is not to be underestimated such as launching The Watford Gift Card.

It is also important to understand that alongside promoting what’s on in Watford and things to do in Watford, the organisation is a key source for useful information for those living in and visiting Watford.