Brixton businesses have voted in favour of setting up a new Business Improvement District (BID) to support local trade and drive footfall to the town centre.
Results of the ballot over the BID were announced at Lambeth Town Hall at 6pm today, with 83% of respondents voting yes to the scheme.
The new BID, which will become incorporated on January 1 2014, will have a budget of about £435,000 to spend on boosting Brixton trade. It will be funded by an additional levy of 1.5% on all businesses with a rateable value above £5,000.
Chairperson of Brixton BID, Elly Foster, told Brixton Blog: “We are grateful that people have voted in favour and we’re looking forward to getting started in January and doing some really great things in Brixton town centre.”
Brixton market stallholder and chair of the Market Trader’s Federation, Stuart Horwood, said the news was an “absolute joy”. He added: “In 2006 I came across the Waterloo Quarter and I thought that Brixton really needs a BID. It makes me really happy to be able to give businesses a help through the BID.”
Some 31.5% of eligible businesses turned out in the ballot, which closed at 5pm today. The new BID will be overseen by a board of 18 local business owners, and money will be spent on marketing, signage and improve footfall.
Including apprentices and part-time roles the BID says it will will create 15 new jobs in Brixton.
Executive director of Brixton BID Emma-Louise Stewart told Brixton Blog at the town hall: “Now the hard work begins.” She thanked traders for supporting the BID. “It’s been 22 months in development so I’m really pleased with the outcome.”
For more on Brixton BID visit www.brixtonbid.co.uk