WHAT WILL IT COST ME?

To fund the BID activity, Barnstaple town centre businesses in the BID area will contribute via a 1% levy based on rateable value. This will will raise in the region of £138,000 per year. In addition to the money raised through the levy, we will seek to leverage additional funding from a range of other sources to further increase the investment in the town centre.

The below table gives an indication of typical rateable values of businesses in Barnstaple and what the BID levy would equate to (based on a levy of 1%):

Size of business	Rateable value	Annual BID levy	Weekly equivalent
Small shop (eg Butchers Row)	£5,500	£55	£1.06
Average shop (Boutport Street)	£13,000	£130	£2.50
Average shop (High Street)	£48,000	£480	£9.23
Average large store (High Street)	£173,000	£1,730	£33.27

A BID must represent value for money – for a small collective investment we can implement specific, practical initiatives to improve the town centre, attract more people and make it more welcoming and more vibrant.