BID benefits
A BID is one step on from the existing Town Management process because it has guaranteed income over a fixed period to invest in activities purely designed to enhance the business environment. There is no “free-loading” - companies picking up the benefits without paying a contribution to the cost. With a BID, everyone pays and everyone gains.

The BID will operate over five years so we know how much income will be generated and can be allocated to short, medium and long-term projects. We intend to supplement the fixed income by creating other funding streams too, such as public sector grants, earned income and sponsorship of particular initiatives. NHDC and Royston Town Council (RTC) have agreed to sustain grant funding of the Partnership so we have already made a start building our funding pot. The BID will comprise of at least 16 Propositions to be delivered over its five years.

In keeping with such a broad spectrum of projects, the benefits accrued will be many:

Benefits to Businesses
• An improved working environment, which will increase ability to recruit and retain quality staff
• Minimised loss of expertise delivering an improved bottom line
• A reduction in criminal damage to property, both company and private
• Improved perception by clients following a more positive experience in Royston
• A strong, collective voice on key issues for businesses
• An increase in footfall as a direct result of an improved business environment
• Additional footfall and dwell-time will lift sales leading to increased profit
• A safer and more attractive environment in Royston
• Sustained investment in new businesses over a five year period

Benefits to the Community
• A safer and more secure environment for residents and visitors
• Marketing and promotion projects will raise profile and footfall
• More activities and amenities to engage and entertain
• Better employment prospects for local workers
• Greater civic pride and pleasure in an attractive, green environment

Royston First 01763 878242