Cash boost for Halesowen BID
Finance chiefs have hailed Dudley as “ahead of the curve” after £50,000 of financial support was given to businesses in Halesowen.
The Government has announced a £6million national financial package for Business Improvement Districts (BIDs) across the country to support them during the coronavirus pandemic.
Dudley has already handed over £50,000 as a short term loan to the Halesowen BID to help the town through the crisis.
As part of the rules of a BID, the local authority collects a BID levy and hands it over to the businesses to fund activities and improvements in the town. It gives greater control to a town over the business activities and has helped Halesowen thrive in recent years.
The council agreed the £50,000 support as the town battles against loss of business during lockdown.
Councillor Steve Clark, cabinet member for finance, said:
It’s great to see Dudley is ahead of the curve in offering financial support to the Halesowen BID. They do a fantastic job in Halesowen and we must continue to help them to do that.
I’m glad the government has now announced a similar national scheme of support for other Business Improvement Districts.
Eve O’Connor the Chair of the Halesowen Business Improvement District, added:
These are very tough times for businesses, not just in Halesowen but across the borough. We really appreciate the financial help that the council has been able to give us.
It’s vital we all work together to make sure businesses can survive this pandemic and Halesowen BID wants to help our community to weather this storm and provide the much needed support.
The news follows a raft of financial support measures from Dudley Council to businesses. Millions of pounds have already been given out to companies in the retail, leisure and hospitality and nurseries sector. On top of that £45million worth of cash has been wiped from the business rates bills of businesses.
For more information on financial help for businesses visit https://www.dudleybusinessfirst.org.uk/coronavirus-business-guidance/