About
The Hereford BID is run by Hereford BID Ltd; an independent not-for-profit company that is controlled by the private sector with between 12-15 volunteer board members directing and advising the company in accordance with the business plan that we were voted in upon.
Representing 500 businesses in the City Centre, our remit is to deliver the business plan for our 2nd term (2020-2025), and in doing so, identify, agree and deliver a timetable of schemes that will increase the appeal of our City, returning Hereford as a regional shopping and leisure destination, and importantly, a national tourist one too.
Why do this?
Hereford has seen a gradual decline as a destination for consumers over the last 20 years; whilst other destinations have prospered with the help of professional destination management and marketing, in Hereford we have (for the most part) done nothing.
Hereford needs professional destination management to restore it as a regional shopping and leisure destination as well as a national tourist one too. The days when you can leave such things in the hands of the local authority, or just to chance, are gone. The good news is that there is every reason to feel optimistic about the future of business in Hereford, despite current concerns we know many of you have.
With the added offerings provided by the opening of The Old Market, we have the foundations to bring footfall back to the area. Take The Old Market, add to it the varied retail offering in the historic town centre and hidden gems such as Church Street, and we’ve a message worth shouting about – a destination to sell. We’ve a destination that has enough to attract people for a full day out. We’ve now got a reason for people to come here and come regularly. Get them here, keep them here, and suddenly we’ve given the businesses in the area a good chance of taking some money.
To achieve this, we need to take the combined aspects of our business plan, from focusing on the visual attributes of the streets to understanding and meeting consumer expectations such as good sign posting; all must be combined and put together as one package that will enhance the reputation of Hereford, make us a strong retail and leisure draw, and see us thrive against a backdrop of declining high streets nationally. Even more encouraging is that none of what needs doing is especially difficult or complicated, it just needs doing. Without a Business Improvement District, who else is going to have the funds and expertise to make it happen?
What is a BID?
Key BID Facts Summary
- In the UK, the majority of BIDs exist in town centres, however they are also in industrial, commercial and mixed-use locations.
- The BID mechanism allows for a large degree of flexibility and as a result BIDs vary greatly in ‘shape’ and size.
- The average size of a BID is 300-400 hereditaments, with some of the smallest having fewer than 50 hereditaments and the largest at over 1,000.
- Annual income is typically £200,000-£600,000 but can be as little as £50,000 per annum and over £2 million.
- Legislation enabling the formation of BIDs was passed in 2003 in England and Wales (with subsequent regulations published in 2004 and 2005 respectively) and in 2006 in Scotland.
- The first BID in England started in January 2005.
- The first Scottish BID started in April 2008 as did the first Welsh BID.
- BIDs were first established in Canada and the US in the 1960s and now exist across the globe, including in South Africa, Germany, Japan, New Zealand and Australia.
Business Improvement Districts (BIDs) are a business led and controlled partnership covering a tightly defined geographic area that delivers an agreed set of services and projects. In reaching this point a BID will have set out in its business plan what it intends to do for that area.
BIDs began in the UK over a decade ago and now total over 200 nationwide. Typically setup for five years at a time, they currently represent almost 80,000 businesses and commercial properties, spread across industrial, commercial and mixed-use locations and operate against defined government legislation.
Who are we?
The Hereford BID is an independent not-for-profit company that is led by business people trading in the City. Our Board is comprised of up to 12 volunteers who are deeply passionate and focused on the commercial success of Hereford our City. Supporting the board with their expertise and experience we also have Councillor Paul Stevens representing the Central Parish.
Our members represent different sectors of the business community and include: i. The Independent Retailer, ii. Multiple Retailer, iii. Hospitality, Professional, Leisure, Public and Property Sectors. Directors are not waged and meet every two months to ensure that the business plan is being delivered by five paid staff which are: Mike Truelove – Chief Executive Officer, Operations and Marketing Manager (ft), Hannah McCourt - Hereford Security & Office Administrator (pt), Chris Wood – Handyman (pt) and Kevin Powell - Handyman (pt)
Our Vision
The Hereford BID’s vision is as follows:
The Businesses in Hereford managing the city as a destination.
A Professionally managed destination with a plan, leadership, authority, and day to day delivery.
By looking at other successful Towns and Cities it is clear that those doing well have developed and engage the use of a destination management and marketing plan. Ours is now up and running and we monitor its success with a raft of key performance indicators such as footfall and car parking usage to name but a few.
BID Area
The Hereford BID covers the entire City Centre and serves 480 businesses ranging from independents to national chains including pubs, clubs and cafes as well as car parks, banks and publicly owned buildings that are open to the public.The Hereford BID serves the following streets:
All Saints Street, Aubrey Street, Auctioneer Walk, Bastion Mews, Barroll Street, Bath Street (westside only), Bewell Square/ Bewell Street, Blackfriars Street (southside only), Blueschool Street, Brewers Passage, Bridge Street, Broad Street, Cathedral Close, Church Street, Commercial Road, Commercial Street, East Street, Eign Gate, Fryzers Court, Gaol Street, Garrick Lane, Gomond Street, High Street, High Town, King Street, Little Berrington Street, Mansion House Walk, Maylord Street, Newmarket Street, Offa Street, St John Street, St Nicholas Street, St. Owen Mews, St. Owen Street (odds 1-69 and evens 2-60), St. Peters Close, St. Peters Square, St. Peters Street, Station Approach, The Atrium, Trinity Square, Union Passage, Union Street, Wall Street, West Street, Widemarsh Street (odd nos. 1-71 inc. Garrick Car Park and Evens).
Annual Report and Accounts
Our financial year runs from April 1st to March 31st with the BID levy invoices sent out annually in April. We represent almost five hundred businesses who pay a levy of 1.2% on rateable values of £7,500 or more, including shops that are vacant; in these circumstance the landlord pays the levy.
Details of our accounts can be downloaded below as well as our annual report providing you with information on what was achieved for any particular year. Income is primarily derived from the annual BID levy but we also seek to raise revenue from voluntary memberships (where there is no conflict of interest with an existing BID member) as well as grants such as that provided by Herefordshire City Council towards our street cleaner and chewing gum removal machine. After operating costs all BID income is directly invested into projects to make positive improvements to Hereford City. All money is robustly managed by the BID team and Board to ensure strict value for money and is reviewed each month against delivery of the business plan.
