Does a BID benefit all businesses paying the BID tax?

As we all know a business investment is putting money into something with the anticipation of receiving multiples by return, and this was one of the selling points of the Advancing Aberystwyth Business Plan back in 2016.

There are however businesses within the BID area, that despite contributing to the local economy employing staff and buying local products & services, receive no sales revenue from Aberystwyth or the surrounding area. In addition some other companies such as specialist destination retailers may not rely on increased footfall that the BID wants to create. For these reasons such businesses are better off investing their revenues in other ways, just makes perfect business sense right?

But these businesses are “stuck” within the BID area, they would have to pay the mandatory levy, in which case it becomes nothing more than an additional unwanted cost for those businesses. Given the BID levy is effectively a private tax, this situation is unlikely to sit well with the payer, whom given the choice might even prefer to donate to local community good causes, rather than for the benefit of other businesses.

Ultimately the investment case will be different for each business, and it will be interesting to see if Advancing Aberystwyth will be able to back up their claims in the 2021 Reballot Business Plan, having had a full 5 year term surely there is evidence to prove the ROI ( Return On Investment ) and any claims made for it's renewal.

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