Unanimous support for business fund scheme

11:38am Wednesday 7th May 2008

Comments (0)   Have your say »

Businesses in Falmouth town centre have voted unanimously in principle to back a scheme to improve the town's trading environment through the payment of a mandatory levy.

Up to 100 business people packed into The Poly to hear about the Falmouth Business Improvement District (BIDs), a scheme giving powers to raise funds through business rates.

The Falmouth BID would be run by businesses in the town centre. To go-ahead, over 50 per cent of them must give it their approval through a vote, which is likely to take place in February 2009.

The money is raised by the businesses paying a levy through their business rates, which becomes mandatory for all whether they voted yes or not. The money is ring fenced for up to five years and is managed by business for business. It is estimated that Falmouth BIDs could raise up to £450,000 over five years, or £90,000 a year, which is more than is currently allocated for promoting Falmouth.

Acting town centre manager David Pollard said the scheme had the backing of Falmouth town council.

"The people of Falmouth decide whether this is right for our town," he said. "It is managed by business for business. The town council is very supportive of the project. It will allow authorities or organisations to look into how to improve trading.

Nigel Carpenter from St Michael's Hotel, one of the backers of the initiative, told the audience that at first he was sceptical about BIDS but was now a convert.

"I was sceptical," he said. "We pay an awful lot of business rates already and the concept of paying more money was not attractive at first, but I sat and listened and was won over."

By 2012, if the BIDS scheme is successful he said, it could be used to make Falmouth warm welcoming and cohesive with clean and tidy beaches, buildings and streets, better signage and more use of the waterfront. It would be more pedestrian friendly, cosmopolitan and vibrant, well promoted and easier to get to.

"Falmouth has more excitement than Truro, it's more edgy more artisan like," said Mr Carpenter Among the ideas being put forward by businesses at the meeting were: An initiative to reduce seasonability and make the cold winters much more fun.

More effort in terms of promotion of events and activities through the winter.

Promoting the Maritime Heritage and the fact that Falmouth is the third largest harbour in the world and the Packet trail as well as regenerating Prince of Wales pier and drawing the two ends of the town together.