Oswestry 'could lose £1.64m' if business body is scrapped
Oswestry could lose out on £1.64 million in investment if the town's Business Improvement District fails to secure enough votes to keep going, a report has warned.
It comes ahead of a ballot which will determine whether the Business Improvement District (BID) can or cannot continue its work.
The BID, which collects a levy from business rate payers to develop projects to benefit firms and improve the trading environment, is asking people to vote for it to carry on for another five years.
Oswestry BID was created four years ago, and it says in its next term it would raise the town’s profile, give businesses a voice, support businesses with access to free training and workshops, manage the Pubwatch initiative, and develop the Footfall/Wifi system.
The organisation also says it would improve access and safety for everyone - staff, customers, visitors and residents - through new traffic regulations, street cleaning, festoon lighting, and night bus provision.
A report, which will be put to Shropshire Council cabinet members next week, says: "The most significant risk faced is if Oswestry BID is not successful in their renewal. Oswestry would lose investment in the region of £1.64 million from 2023 onwards.
"Without Oswestry BID there would be a significant loss of momentum and activity in the town centre.
"The BID has achieved a great deal against its key project themes, together with a number of major marketing campaigns, significant cost savings for businesses, and the support of strategic development work across Oswestry through their role in Future Oswestry Group, alongside Shropshire Council and Oswestry Town Council."
"Oswestry continues to face increasing competition from nearby towns and cities, retail parks and the internet. Oswestry BID has made significant achievements in its first term but for the town to remain competitive it needs to continue to deliver projects which attract more people to the town, improves the experience for visitors and supports the business community on key strategic and operational matters."
The ballot will take place from October 6 to November 3, and if it is unsuccessful, Oswestry BID will cease to exist in March next year.
