Local firms give Team London Bridge another five-year mandate

Firms in the area between London Bridge and Tower Bridge have given their local business improvement district another five-year mandate to raise a levy on business rates to spend on local projects.

Local firms give Team London Bridge another five-year mandate
Nadia Broccardo

95 per cent of votes cast in this month's ballot were in favour of continuing with the Team London Bridge BID, on a turnout of 52 per cent.

The BID raises at least £1.2 million a year from local firms through a levy on business rates.

"This is great news for London Bridge and an important commitment from local businesses," said chief executive Nadia Broccardo.

"A huge thank you to all BID members who took part in the ballot. The response has been exceptional.

"BIDs are a proven way for businesses to take the initiative and our collective response will be crucial in how the community recovers and thrives.

"The team and I look forward to seeing everyone back in London Bridge over the coming months and can't wait to once again feel the excitement that working in one of the most iconic places in the world brings."

BID chair Professor Simon Howell of King's College London: 'Throughout the ballot we've been told that the area wouldn't be the same without Team London Bridge and that the loss of BID services would impact their business at a time when they need support the most.

"So, it's with enormous pleasure that we welcome this result and will be here to steer local businesses through the months ahead with a long-term vision that will bring a sustainable, successful future to our community."

Tags: Business, Southwark

© 1998-2024 Bankside Press Ltd
Privacy & data protection | Complaints procedure
Member of the Independent Community News Network