Unfortunately when a meeting was convened by the Council to look at a BID only about 4 retailers attended making it dead in the water before it even started. Retailers need to have total confidence in their own business and the town as a whole for this type of idea to progress.
Business Rates do need to fall in Wrexham, that is for sure. They were set at the peak of rents and before Eagles Meadow opened. I couldn’t actually believe it when, a month ago, the Wrexham Rates Assessment Office re-rated my shop upwards.
The BID in Chester is triggered at £18,000 which would exclude most of Wrexham’s peripheral Indies. I wonder if the vote was supported by the excluded who will gain a benefit from the pot but won’t pay? Anyone know?
I would have to see the specific detail on the table and the mechanism to spend the pot. I’m sure that there could be some formula developed to do a comparable
The biggest difference between Chester and Wrexham is that their empty shop rate is far below Wrexham with almost 92% across the city.
In a buoyant retail environment businesses will invest in such a scheme as they see this as an added incentive.
The key driver is confidence in your business and the future of the area- unfortunately many business owners in Wrexham don’t have that level of confidence.
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