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Calling all Colne businesses – your views are needed!

Published: Wednesday, 7th June 2017

Colne could become a Business Improvement District (BID) which means businesses would raise their own funds to spend on projects they’ve identified will benefit the town.

This move comes after businesses and organisations highlighted a need to stimulate the high street.

And following a feasibility study, which showed support for the creation of a BID in Colne, it’s now moving to the next stage.

A meeting is taking place on Wednesday 14 June at 5.30pm in Colne Town Hall for businesses to find out more about what a BID could mean for the town.

Councillor Mohammed Iqbal, Leader of Pendle Council and Portfolio Holder for Economic Development, said: “It’s great to see there’s an appetite to create an opportunity for businesses and organisations to work together on a common goal.”

Chris Kolek of Kolek Consulting Limited has been appointed to develop a formal proposal for the BID and he will be at the meeting.

He said: “I’m delighted to have been selected to develop a BID for Colne.

“A BID is a business-led initiative which means businesses and organisations would decide how to attract and retain shoppers and businesses, as well as boost nightlife in the town.

“I’m looking forward to talking to as many businesses as possible to understand your aspirations for the town.

“Your thoughts and suggestions will help me to come up with a costed programme of projects and services.”

Grahame Wharton, Chair of Colne Town Centre Forum, added: “We need to make sure that we make the most of our potential, building on our strong customer loyalty and specialist shops and services.

“Creating a Business Improvement District could really help us boost the town.”

There are more than 250 BIDs in towns and city centres across the UK, including several in towns of a similar size to Colne such as Skipton, Northallerton, Kendal and Otley.

A BID is a defined area which can provide additional or improved services.

This could include extra safety, cleaning or events. It is paid for by a levy on all eligible businesses after a successful ballot.

For more information contact Chris Kolek by emailing colneBID@mail.com or calling 07900 608 085.

Notes to editors

 What are the expected benefits of a BID?

  • Business leadership - led by local businesses for the benefit of businesses
  • New investment – creating a new fund that’s re-invested in the town
  • Action – the ring-fenced fund means business priorities can be addressed
  • Economies of scale – achieving more with less by working together
  • Adding value - BID activities are over and above those provided by the Councils and public bodies
  • Influence – the BID can be a voice for the town’s businesses and positively influence the decisions that affect them