STIRLING’S Business Improvement District (BID) is suspending levy payments in the wake of the Covid-19 crisis.
The team at Go Forth Stirling has announced plans to halt the collection of payments made by the city’s traders for a period of six months.
Meanwhile, the organisation continues to work with a local partnership set up to help businesses survive the current crisis.
Go Forth Stirling’s Danielle McRorie-Smith said: “We are working as hard as we can to support our traders during this testing time and looking for practical ways in which we can provide assistance and reassurance.
“There have not yet been any government instructions regarding whether BID levy payments should be reduced at this time in line with business rate reductions, however, we believe this is something we should go ahead with as quickly as possible and hope other Business Improvement Districts will follow suit.
“It is not in the best interests of Stirling city centre traders to make their levy payments at this time and we have decided to suspend them for six months.”
Like all BIDs, Go Forth Stirling charges business owners a levy which varies according to the rateable value of their retail premises.
The funds are then invested back into Stirling city centre to develop projects and events aimed at increasing footfall plus grants and schemes to improve the city centre environment for shoppers and retailers alike.
Ms McRorie-Smith added: “Any business which has already paid their levy in advance for the year will be able to use the suspension period towards future payments.”
The team at Go Forth Stirling is also working within the newly formed partnership – along with Stirling Council, Forth Valley Chamber of Commerce and other local organisations – to support businesses throughout the Covid-19
Go Forth Stirling Business Improvement District (BID) represents close to 400 local businesses with a key objective of delivering projects and services which improve the area’s trading environment to benefit businesses, shoppers and visitors.
The BID was set up in September 2017 following a vote among the city’s traders and runs for an initial five-year term.
