Stratford

What is the Stratford Original BID?

The Stratford Original BID (Business Improvement District) is a not for profit organisation funded and led by the local business community. There are over 320 BIDs in the UK and over 70 in London, BIDs are leading on the delivery of bespoke solutions to local business priorities.

Stratford Original BID is funded by local businesses within the area boundary. The BID levy is raised in addition to business rates. We have also been successful at raising additional funding across our terms. The Executive Team is overseen by a Board of volunteer Directors made up of local business owners and managers who dedicate their time to enhancing Stratford.

Due to National legislation, BIDs have a five-year lifespan. They are established through a democratic ballot. Every five years, local businesses have the chance to vote in favour (or against) the establishment of such organisations. If a majority of Stratford businesses voted yes in the renewal ballot this autumn, the third term of the BID will run from 2025 – 2030.

What is the Renewal Ballot Consultation?

Your input is vital as we shape the future of our BID for the next five years. The renewal ballot consultation is an opportunity for you to share your ideas, discuss our current delivery programme and explore ways we can enhance our services. You can complete your survey in-person, online or at our workshop on 24 June 2024.

When is the Renewal Ballot taking place?

The renewal ballot will take place from 5th November to 5th December 2024, eligible local businesses will have the chance to express their support for another five years with a yes vote.

Expansion Area

Following a separate consultation process and a Board decision, the BID area will be extending to Burford Road and Cam Road (E15) should we be successful at the renewal ballot.

Who is eligible to vote?

In Stratford, every business that is based within the boundary area and with a Rateable Value (RV) of £12,000 or over will have the right to vote. We have set the ‘minimum threshold’ at £12,000 RV to align with those businesses who are already eligible to pay business rates.

Not sure what your RV is? Find out here.

Business Club

Businesses who are within the boundary area and have an RV below the minimum threshold of £12,000 can remain involved with the activities of the Stratford Original BID by opting into the Stratford Original BID Business Club. Business Club members will, however, not be eligible to vote at any renewal ballot.

How much will the BID cost me?

A mandatory levy of 1.5% is applied in addition to business rates.

This means that if your RV is £12,000, your levy will be £180 per year. If you are a registered charity, then you are in for an 80% discount on your levy.

What will I be voting on?

You will be voting on the Stratford Original BID continuing for another five year term. You will be sent our proposal document Stratford Is Now which will layout our intentions to continue supporting our business community through our Business Essentials, Enhancing Stratford, Safer Stratford and Promoting & Marketing initiatives. The BID model is entirely based on local businesses identifying priorities for the area.

Your vote yes vote between 5th November and 5th December will be your agreement to support our vision and proposal for the period 2025 to 2030.

What happens if I don’t vote or vote no?

If you decide not to vote, you will not have a say on whether the BID continues for another five years. If more than 50% of eligible voters vote no, the Stratford Original BID will cease to operate in March 2025.

To have a successful renewal ballot, the Stratford Original BID will need at least 50% +1 of eligible voters voting yes in both numerical and rateable value. If the BID is successful in achieving the renewal ballot, you will still be a part of the BID for the next five years regardless of whether you abstained or voted against.

Why shall I vote and how does it work?

We believe that all businesses should vote yes as the stronger the mandate, the stronger the voice of businesses in Stratford.

In Autumn, an independent organisation called Electoral Reform Service (ERS) will post your ballot papers directly to your business address. Once you receive your papers you can cast your vote and then post it back using the prepaid envelope provided.

You will have from 5th November 2024 – 5th December 2024 to return your vote via post. All votes must arrive for count no later that 5pm on 5th December. Please make sure to post your completed vote 2 – 3 working days before the ballot closes.

How can I help shape Stratford?

From its inception, Stratford Original BID has grown to become a vital mechanism for the business community to deliver initiatives to fulfil the potential of the original Stratford.

If you have any ideas, suggestions or would like to be more involved, please get in touch via email, phone or just come and say hi to us in our office.