Local MP welcomes support from the Government’s BID Loan Fund

Marcus Jones, Nuneaton’s MP, received confirmation from the High Streets Minister, Jake Berry, that the Nuneaton Business Forum would receive a loan of £46,000 to help establish a Business Improvement District (BID) for Nuneaton town centre.

Marcus, who has supported the Nuneaton Business Forum’s efforts to bring a Business Improvement District to Nuneaton, has expressed his delight at the announcement, and his thanks to those on the Nuneaton Business Forum, including officers from the County and Borough Councils, for getting things to this stage.

Marcus now hopes that the work to prepare the ground for town centre businesses to decide if the BID gets the go-ahead can continue at pace.

If the BID were introduced, a small levy on the business rates on each town centre business would be realised for the BID to use to enhance the town centre offer. How the cash is spent would be agreed by the BID at a ballot of businesses.

The local MP said, “I believe that a BID would be fantastic for Nuneaton town centre and as successful as it has been in Hinckley and Rugby - towns which have really benefitted from having a BID.

“I am really pleased that the Minister has put his faith in the Nuneaton Business Forum – its members deserve great praise for all the work they have done to get the BID proposal to this stage.  I will continue to give the group my full support.”