Business led, business funded...
Representing over 400 businesses and organisations, Peterborough Positive is focused on delivering an ambitious business plan to transform the city centre – improving experiences, standards and adding value for all city users.
Leading on innovative projects and providing key investment, it aims to make the city centre a cleaner, safer and more welcoming place, raising its profile nationally with new, diverse and prestigious events and exciting marketing campaigns.
How does a BID work?
The lifetime of a BID is covered by national regulations established by government and is set at no more than five years for each term.
A not-for-profit company (Peterborough Positive) is set up and is responsible for ensuring that the aims and objectives of the BID’s business plan are delivered.
The BID is about additionality. It does not replace local authority or police services but has to provide additional resource and activities to benefit the area.
- After a period of consultation, businesses were sent a business plan and voted ‘yes’ or ‘no’ in a 28-day ballot on whether to adopt a BID.
- A majority vote ‘yes’ enabled Peterborough to achieve BID status in 2021 and delivery of the business plan commenced in June 2022 when a Chief Operating Officer was appointed.
- Businesses within the BID area with a rateable value of £15,000 or above are required to make an annual contribution (a levy) of 1.5%, resulting in approximately £350k investment per year into the city centre – or roughly £1.75m over the BID’s initial five-year term.
PETERBOROUGH POSITIVE’S BUSINESS PLAN
The business plan outlines the BID’s priorities over five years.
These priorities were shaped by city centre businesses through multiple surveys, events and discussions.
Read the business plan to find out the BID’s priorities.
