Thousands of pounds from Europe could pour into Brighton and Hove's first Business Improvement District (BID) if traders approve the scheme later this week.

Business leaders in the city have pointed to a pilot BID scheme in London which raised millions of pounds through matched funding in its first five years.

The Circle Initiative, which comprises five individual BIDs in central London, has attracted almost £14 million in extra funding from the public and private sector since 2001 - 50 per cent more than was originally thought possible.

Traders in two of Brighton's best-known shopping quarters will decide in a referendum on Friday whether to accept or reject the city's first BID.

The main shopping precincts in North Laine - Sydney Street, Kensington Gardens, Gardner Street and Bond Street - have been earmarked for the scheme. Most of North Street, Brighton Place, Market Street, Meeting House Lane, half of East Street and Brighton Square in The Lanes are also included. Approximately 380 businesses are involved.

The map was drawn up after a consultation exercise by the Business Forum, which included 1,000 leaflets, 800 face-to-face interviews and 300 phone calls.

In a BID traders agree to pay a small levy on their business rates towards expenses such as Christmas lights, marketing and security.

The Brighton BID would raise at least £933,000 to be spent over five years, but that amount could go up significantly if London's experience is anything to go by.

Tony Mernagh, executive director of the Brighton and Hove Economic Partnership, said: "The London BIDs started life as massive inward investment vehicles so you can't really draw comparison with the Brighton model but we should be able to access European and UK grants through matched funding.

"In the past money, or a lack thereof, has always been the problem but if the BID is approved on Friday then, for once, we will have some money."

The results of the vote will be published next Tuesday. If traders approve the scheme, a BID board will be elected to carry out the wishes of traders. The main priority is Christmas lights. Displays have let the city down in previous years and there is a strong desire among businesses to improve in this area.

Tuesday, May 23, 2006