IS BID GOOD FOR FREMANTLE RETAILERS?
The Fremantle BID (Business Improvement District) has been going for nearly five years and wants the City of Fremantle to keep it going for another five years, so what do Freo CBD business owners and operators think?
Has BID made a tangible difference to the CBD retailers, has their turnover increased, have BID organised enough events, and the right ones, or is BID a waste of money and a duplication of services that the Economic Development and Marketing Department of the City of Fremantle should handle itself?
What do you think? Post a comment below so COF can make the right decision.
For those who don’t know, this is what BID is:
Business Improvement Districts (BID) are not-for-profit companies that promote the shared interests of commercial property owners and businesses located within specified geographic areas. Established by local government BID’s are funded through a special city centre differential rate that is collected by the local government and passed on entirely to the BID. These funds support programs such as marketing promotion, street enhancement, safety security, events festivals and business development.
The Fremantle BID Company is independently managed by a Board of Directors, with autonomy for decision-making and priority-setting. The Fremantle BID area is made up of approximately 600 businesses with the boundaries being Parry Street to South Terrace south to King Street and north to Victoria Quay. Within these boundaries are five business precincts: Victoria Quay, Fishing Boat Harbour, West End, City Central and the Cappuccino Strip.
Fremantle BID is made up of a diverse range of dining, retail, entertainment and professional service businesses. Fremantle is internationally known as a festival city and is a favourite place to visit for tourists and locals alike.