Nailsea BID Feasibility

In Spring 2023 TownCentred were approached by North Somerset Council to carry out the feasibility for a BID to support the rennaissance of Nailsea which was struggling with vacancy rates of over 20% - much higher than the national average (14%) and nearly 3x that of nearby Clevedon.

TownCentred recommended the following process which was carried out and concluded that a BID was potentially highly positive step for the town. 

Summary Feasiblity Process

Typically the creation of a BID falls into 3 broad areas of work:

1.      Feasibility

2.      Development

3.      Campaign

At feasibility stage the following series of key tasks are typically undertaken:


1. Data and Mapping: Review data relating to business rates to inform mapping exercises and presented in order to consider alternative geographic areas and commercial sectors, when visualising the implementation stage of the BID process.

2.  Financial modelling: to enable a steering group to consider and run alternative financial scenarios relevant to the BID.

3.  Council Relations: Describe how this is likely to be pursued and what access to Council services would be required.

4.  BID Aims: the likely business objectives that will require financing by a BID and appeal to local business, as well as an indication of how this would be achieved.

5.  Consultation: to build consensus with businesses (including multiples) and refine the original list of projects which are both viable and representative of business priorities (to include a series of workshops).

6.  Solutions: Provide a summary of inventive solutions and indicative castings to address their needs, bringing together all the elements necessary to produce a deliverable BID proposal which, in future phases, can be further developed.

7.  Resources: Identify resources and structure working within the location to identify a group of private and public sector representatives that are likely to support, co-ordinate and champion the BID.

8.  Legals: Provide guidance to the client on all relevant legal and legislative implications that will be encountered throughout the BID process, to inform awareness of any limitations and liabilities and so that an understanding and decision can be reached regarding the form of legal entity that is required to implement and control a BID.

9.  Report: Summarise all of the above in a clear and concise report (including next steps to deliver a BID – ie development and campaign) and present back to the client.