Local businesses in Cheapside vote overwhelmingly in favour of renewing the City of London’s first Business Improvement District (BID) – Cheapside Business Alliance (CBA)
The successful ballot result allows CBA to continue delivering a variety of strategic and operational improvements to the Cheapside area.
An impressive 94% of votes cast by local businesses were in favour of the BID continuing for a third term (95% by rateable value).
This outstanding result is a strong endorsement of CBA’s achievements and impact for the past decade and demonstrates continued support for increased collaboration between the public and private sectors across the City of London.
The BID will work with the City Corporation and other partners to deliver the ambitious Business Plan 2025-2030, investing £6.77 million into the area over the BID’s third term. Businesses’ feedback specified 4 key pillars for the BID to deliver on – supporting a better environment, promoting a welcoming Cheapside, creating social impact and building a stronger community.
Charlotte Fletcher, Chair of CBA said:
“So much has been achieved in the last decade, but our work is not done. We are so pleased to have been voted in again and together, we can continue championing Cheapside, driving forward its growth and transformation over the next 5 years.”
The BID’s work will continue to support the area’s pivotal position in the heart of the City of London. Representing a variety of sectors and small business community, the BID will continue to drive partnership, innovation and growth across the area, retaining its competitive edge as a leading retail, leisure and corporate destination.
The BID is grateful for the continued support from Cheapside’s business community and is looking forward to delivering projects and programmes to enhance the area businesses, visitors and workers.