EQUAL REPRESENTATION ACROSS ALL SECTORS IN THE BUSINESS IMPROVEMENT DISTRICT
The Downtown Gibraltar Business Improvement District (BID) has been a project for over three years in the making. Initially spearheaded by the GFSB, it all began after a review study of our town centre highlighted a number of areas we could improve on to become more prosperous, and made the case to explore appetite for a BID.
A BID is a tried and tested place management mechanism, with over 300 in the UK alone, that aims to generate improvements for businesses in an area, including reducing business costs, increasing business revenue, attracting public realm improvements and creating a thriving, prosperous business area.
The Main Street & Surrounds BID project (now Downtown Gibraltar) was launched to deliver on projects set out in a 5-year business plan (available at downtown.gi/faqs). There are a wide range of projects planned, based on ideas contributed by hundreds of Downtown businesses, to benefit those same businesses from all sectors, all corners of the area and of all sizes.
Year 1 Projects
Downtown Gibraltar is in its fledgling stages, but there has already been a significant amount of headway made on projects including: the Preferred Supplier Programme, the Downtown Gift Card, Fire and Lights Season, and working towards making the area more accessible for those with disabilities. For a more exhaustive list read our October newsletter at linktr.ee/downtowngibbiz. In addition, the new Downtown website will soon be launching, allowing members to create business listings, promote offers and events, and access information on current and upcoming projects.
Service Sector
The advantages for retail may seem more obvious to some, but the service sector will also enjoy many benefits such as: reduced business costs and improved return through initiatives such as the Preferred Supplier Programme; opportunities to have your business marketed to both consumers and other businesses (depending on your target audience); additional networking meetings and events aimed specifically at professional and service businesses within the town centre; a strong and influential community voice representing your views and speaking up for you on the strategic issues, alongside those of the wider business community; greater coordination and interaction with government bodies and other stakeholder groups; up-to-date data and business support information, as well as emerging and urgent issues Downtown; influencing a better-quality, more prestigious and vibrant environment for your business, clients and staff both during the day and into the evening; and more.
Measuring Results
Downtown members will be able to track relevant data such as their total cost savings through initiatives including the Preferred Supplier Programme – small to medium businesses may find that their BID levy is covered by these savings alone.
Levy payers will be kept up to date on all the projects implemented over the 5-year term – via annual meetings, group liaison forums and briefings, and direct communications including e-bulletins, newsletters and face-to-face meetings – demonstrating that it is delivering against its objectives. A set of key performance indicators (KPIs) and criteria upon which to measure the performance of the place will include measurables like footfall figures, visitor numbers, rental levels, car parking usage, new business activity, annual surveys, regular business and consumer feedback, media coverage, and website/social media interactions.
Get in Touch
The Downtown BID project is run by businesses, for businesses. If you own a business within the BID area, YOU have a say in what happens Downtown.
Register now by visiting www.downtown.gi.
