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Abbey Quarter Business Improvement District 2019-24 

Launch of Business Plan for proposed Abbey Quarter Business District 

On 17 January 2019, businesses in the Abbey Quarter attended the launch of the Business Plan for a proposed Abbey Quarter BID which aims to build on the track record of success of the existing Reading Central BID.  If businesses vote in favour, both BIDs could generate over £5 million extra investment in initiatives and services to make their areas safer, more attractive, business friendly and connected.

Businesses operating within the area surrounding Reading’s historic Abbey Ruins were invited to take part in a consultation for a new business improvement district (BID) in summer 2018. Reading UK has now published a business plan for the area to deliver improvements for business in areas such as public realm, place marketing, regenerating the waterways, safer and cleaner streets and a host of other positive services.

Business in the Abbey Quarter area will vote on the proposals between 24 January and 21 February 2019.

Read the business plan>>>

What is a Business Improvement District?

A Business Improvement District (BID) is an area which has a specific and focused mandate to create extra services in addition to those already provided by the public authorities to maximise the experience for businesses, shoppers and workers. The decision to create and continue a Business Improvement District is driven by local businesses and enabled through a vote of all eligible businesses in the BID area.  If carried, businesses contribute a small levy on their business rates (typically around 1%) to deliver the plan of extra services.

There are over 340 business improvement districts across the UK including the current Reading BID which 530 town centre businesses have voted to support since 2006. 

 

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