What can a BID do for my business?

The benefits other BID areas have seen are:

Businesses

  • Increases in footfall
  • Increases in consumer spend
  • Reduced costs (joint activities, e.g. promotions, collective purchasing of utilities)
  • Gives businesses a collective local voice and promotes closer links with the local authority
  • Creates a more appealing environment for the businesses and their employees
  • Fair system, everyone invests, everyone benefits
  • Increases an area's desirability and attracts occupiers

Community

  • Produces economic well being and sustainable economic growth in the area
  • Attracts inward investment
  • Produces social well being / improves quality of life
  • Enhances natural and built assets and supports the sustainability of the town
  • Creates a positive sense of place and enhanced feeling of safety and well-being
  • Civic and community pride

Tourism

  • Increase in visitor numbers
  • Improves the visitor experience
  • Enhances the reputation of the area and the region

Benefits of BID4OBAN

BID4Oban delivered sustainable funding for a 5 year period, allowing businesses to work together with partners on agreed priorities for the area.

The BID uses a collective investment from every business in the area, raised by a levy determined by non-domestic rateable values.

A BID can cover almost any project or service that businesses agree would be of benefit and worth funding, as long as these are additional to the services provided by statutory authorities (the Council, the Police, Transerv etc).

In the first five years of BID4Oban this has resulted in the following highlights:

  • 41 shop front improvement grants funded to levy payers
  • £20,027 spent on improvement grants to levy payers
  • 51 events supported financially at a cost of £92,460
  • 700 hanging baskets and floral arrangements installed
  • Love Oban Vouchers scheme created, which has local sales to date of £32,000, ensuring that local money stays in Oban
  • Christmas lights enhanced throughout Oban
  • BID4Oban Wi-Fi installed in Little Bay area
  • Town Diary and What’s on updated throughout BID