The consultation period for the creation of the Wight BID, a business improvement district for the Isle of Wight, came to a close last week.
Final proposals for the Wight BID (previously referred to as D-BID) are still being worked on and will be published next week ahead of the postal ballot, which takes place over 28 days in late June and early July.
Time is running out
David Thornton, CEO, Visit Isle of Wight said,
“We are extremely grateful for all the feedback we have received over the last five months.
“Visit Isle of Wight has already spent £250,000 less on advertising this year than last year, due to the withdrawal of advertising funds by the public sector.
“Whilst we’ve upped our digital, social media and press office activity in an attempt to compensate in the short term, time is running out to find a sustainable solution to deliver advertising and promotions on the mainland in the face of stiff competition from other UK destinations, all fighting for a share of the holiday and short breaks market.”
Who pays the levy?
In the draft proposals, it was explained the Wight BID involved Island businesses that receive all or part of their income from tourism (often called the visitor economy) would pay a levy of 1.75% of their rateable value each year. That will only apply to businesses with a rateable value of £3,000 or over.
For an idea of how much various-sized businesses might pay, the graphic below gives a good indication.
It’s worth making clear that the levy would not be used to fund salaries of staff at Visit Isle of Wight. These will continue to be covered by contributions from the various Visit IW partners.
What next?
Once the vote has taken place later in the year, if a positive vote is returned, Visit Isle of Wight will be able to get things moving.
David went on the say,
“If the Island’s tourism industry votes in favour of a BID we will then move forward with the proposed framework, adding layers of detail to the plan via working parties and task groups made up of levy payers from large and small businesses across the Isle of Wight.
“Key working parties will include marketing, access & travel, and infrastructure & cosmetic improvements. These groups will not be talking shops, but task and finish teams supported by the full weight of the Industry and everyone in it. Only by working together can we make the differences we seek.”
Visit IW: Appreciate that the levy “is a big ask”
Keen to add a personal comment on the last 18 months of work on the Wight BID, David said,
“Here at Visit Isle of Wight, our small team appreciate that supporting the Wight BID is a very big ask. We spent over 18 months investigating alternative funding sources and found nothing that could replace the Council advertising funds.
“I believe that if large scale well-funded advertising on the mainland and overseas ceases this September we will rapidly lose profile and our fragile tourism economy will be irrevocably damaged within just a few short years. Nevertheless, asking Business to replace funds that previously were provided by the State is a bitter and uncomfortable challenge for everyone.
“We hear your frustration and I understand your concerns. All I can promise you at this stage is that if the Wight BID becomes a reality in September I will do everything in my power to deliver value for each and every levy payer on the Island.”
Keep an eye on OnTheWight next week for the latest.
Image: visitisleofwight under CC BY 2.0
