Later this month, town centre businesses will be asked to take part in a ballot on whether to renew Reading’s Town Centre Business Improvement District (BID) for the next five years and whether to create a brand new BID for the Abbey Quarter area.

Reading’s BID was first established back in 2006. In that time it has played a major role in helping to support of the continued economic success of the town centre and Reading as a whole.

Many you will have enjoyed the Christmas lights and the Magical Christmas shows, including the Big Blue Whale and Snow Queen displays, while not realising it was funded by the Town Centre BID.

Reading’s BID is funded by a levy on business rates.

During the current BID period (2014-19), almost £2.5m of additional funding has been raised, which help fund a wide range of initiatives, all aimed at improving the attractiveness of the town centre.

Reading’s nighttime economy now has ‘Purple Flag’ accreditation.‘Purple Flag’ towns are recognised for providing a vibrant and diverse mix of dining, entertainment and culture, while promoting the safety and wellbeing of visitors and local residents.

The Town Centre BID has also helped increase businesses recycling, provided improved footfall information to businesses, established popular street food markets and delivered a programme of arts and culture in the town centre.

Looking forward, Reading UK’s Retail Town Centre BID for 2019-24 will be doing even more throughout the year to raise the profile of Reading town centre and provide more experiences for families, visitors and shoppers.

The focus will be on increasing footfall, making the town centre more secure and increasing levels of recycling.

This year, Reading UK is also investigating if there is interest from businesses in the area surrounding Reading’s historic Abbey Ruins to develop a new Commercial BID.

Last year - after nearly a decade of closure - the council reopened the Abbey Quarter.

It is already proving popular and will become a major regional visitor attraction for many years to come.

A real opportunity now exists to create a successful new Commercial BID in the Abbey Quarter.

The proposed new BID would help to deliver a range improvements for local business, including the promotion and marketing of the Abbey Quarter as a high value business location, attracting new occupiers for offices, regenerating the waterways and safer and cleaner streets.

Over 500 businesses in the retail centre and over 300 in the Abbey Quarter area have already been written to informing them of the postal ballot, which takes place between January 24 and February 21.

There is no doubt Town Centre BID has delivered huge benefits for over 12 years now.

For its part, the council fully supports both bids. At a time of uncertainty for businesses everywhere, they can help to provide the support the town centre needs in order to maintain our strong regional retail, hospitality, nighttime and visitor offer. We very much look forward to working with Reading UK and town centre businesses in the years to come.