Team London Bridge Ballot Success!
In a huge boost for the London Bridge economy, local businesses have voted to continue being part of their Business Improvement District (BID) and invest in excess of £11 million directly into local services over the next five years.
With a strong show of support for Team London Bridge, 52% of businesses voted in the ballot despite being in the middle of a pandemic. The vote to remain being part of the BID was a resounding 95% in favour by number of votes cast, and 97% by rateable value.
By voting ‘yes’ to the BID, businesses have given Team London Bridge a mandate to deliver the five-year business plan on their behalf, providing additional security and safety, placeshaping leadership, cleaning, greening, responsible business (CSR) initiatives, marketing, events and a burgeoning arts programme. The projects delivered between 2021-26 will build on 15 years of fruitful local partnerships instigated by the BID team and directed by a voluntary board made up of local representatives.
Team London Bridge CEO, Nadia Broccardo, said, ‘This is great news for London Bridge and an important commitment from local businesses. A huge thank you to all BID members who took part in the ballot, the response has been exceptional. BIDs are a proven way for businesses to take the initiative and our collective response will be crucial in how the community recovers and thrives. The team and I look forward to seeing everyone back in London Bridge over the coming months and can’t wait to once again feel the excitement that working in one of the most iconic places in the world brings.
Professor Simon Howell of King’s College London Team London Bridge Chair, said: ‘Throughout the Ballot we’ve been told that the area wouldn’t be the same without Team London Bridge and that the loss of BID services would impact their business at the time when they need support the most. So, it’s with enormous pleasure that we welcome this result and will be here to steer local businesses through the months ahead with a long-term vision that will bring a sustainable, successful future to our community.’
In the ballot, Team London Bridge BID members voted to affirm their commitment to pay a BID levy over the next five years. The money is ringfenced and is only spent on local projects as outlined in Team London Bridge’s five-year plan. The plan recognises 6 key commitments to deliver over the period 2021-26:
1. Provide added resilience to future economic and social shocks
2. Make London Bridge part of a Carbon Zero Southwark by 2030
3. Make London Bridge a ‘front stage’ for London culture
4. Make London Bridge the most enjoyable, safe, and convenient place to work in London
5. Make a green and healthy street environment that puts walking and cycling first, providing an exemplar for London
6. Make London Bridge the premier location for responsible businesses and ethically conscious employees
If businesses would like to set up a meeting to discuss their involvement or learn more about the services provided by Team London Bridge, contact henry@teamlondonbridge.co.uk
For more details about the ballot result click here.