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Broad Street is Birmingham’s premier mixed use business area with 15,000 people employed in over 300 businesses throughout the area, including offices, hotels, pubs, clubs, restaurants and leisure venues. It also includes the International Convention Centre, the National Indoor Arena, the National Sealife Centre and the award winning Brindleyplace.
The Broad Street Business Improvement District (BID) works to create a more attractive, better marketed, brighter, safer and cleaner business environment.
The BID was established in July 2005 following a successful ballot of 262 businesses throughout the Broad Street area. With a 92% ‘YES’ vote, the result is still the highest of all BIDs in the UK to date. In November 2009 businesses within the BID area voted in favour of the team’s efforts continuing, with a fantastic 94% ‘YES’ vote.
The current BID term lasts for five years until March 2015 and works to create a more attractive, better marketed, brighter, safer and cleaner business environment. Efforts are focused on enhancing, connecting and developing the area. The BID also represents and champions local businesses on issues of common concern.
Local businesses with a rateable value over £10,000 contribute to the BID through a small percentage levy based on rateable value. Bars, clubs and casinos in the area pay 2% of their rateable value and all other businesses within the main Broad Street core area pay 1%. All businesses located in the outer core area contribute 0.5% of their rateable value.
In addition to the levy, the BID also attracts substantial voluntary contributions from property owners and developers. The BID raised in excess of £1.7million in its first five year term (until March 2010), which was invested entirely on improvements in the area to ensure a properous business environment.
Broad Street Partnership Limited manages the BID with a board of directors who represent local businesses, property owners and developers, West Midlands Police, Birmingham City Council, the Leisure Forum (respresenting bars and clubs) and the City Neighbourhood Forum.