Neath Inspired Limited is a not for profit company representing over 270 businesses located in the Business Improvement District. It represents many local independent shops, cafes, public houses, estate agents, solicitors and accountants and also all the big national stores including Marks & Spencer, Boots, Wilko, Morrisons, W H Smiths and many others. Over the next 5 years we aim to change local perceptions about the town centre, re-invigorating it by undertaking projects, supporting events and working with other organisations like Neath Town Council, Neath Port Talbot County Borough Council, The Chamber of Trade and Police to make the town centre more attractive and vibrant with increased footfall, reduced vacancy rates and increased employment opportunities. We aim to help businesses in the service industries to promote their businesses to other local businesses. Read on to find out more about us.
A proactive, flexible and accountable approach, where businesses set priorities for local investment in the place where they do business.
Broader regeneration benefits, locally for the whole community and regionally for the wider economy.
Complementary benefits of local partnership, networking, free training opportunities, building local confidence in economic development and making Neath more attractive to all.
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In November 2015, businesses with a Rateable Value [RV] of over £6,000 in Neath Town Centre Business Improvement District had the opportunity to vote in a ballot for or against the establishment of a Business Improvement District (BID). The vote for the Business Improvement District achieved a majority. Consequently, a levy of 1.25% has been applied to businesses based on the Rateable Values of their properties. This will remain in place for the next 5 years, the amount of the levy will remain constant throughout. It will generate just under half a million pounds over the next 5 years for investment into the town. This money will be invested in a series of projects designed to help the businesses in the Business Improvement District improve their business and make the town more vibrant, attractive and more competitive with other centres, increasing footfall and employment opportunities.
Neath Port Talbot County Borough Council has authorised Neath Inspired Limited, a not for profit company limited by guarantee as the legal entity to utilise the BID levy to carry out the objectives of a Business Improvement District. The Board of Directors, made up from Neath business people, has developed the overall strategic vision, and is managing the company’s finances, formulating policies and procedures, directing project planning, establishing theme groups and reviewing & evaluating each project over time. The board has set up 2 Groups with 3 Themes which are developing and implementing project through an agreed delivery plan. The priority is to make Neath a distinctive, lively and rewarding destination, encouraging repeat visits and building a loyal customer base. Each theme group has authority to act upon a clear set of devolved tasks and will deliver targeted improvement and marketing campaigns to enhance Neath’s image.
Neath Inspired Limited represents around 270 businesses who pay the Business Improvement District levy, which amounts to 1.25% on their Business Rates. These, together with over 20 businesses from Neath Market & other adjacent locations, have made voluntary contributions which makes them also BID Businesses. The objectives of Neath Inspired Limited are geared to supporting all businesses within the Business Improvement District area, increasing town centre vitality, footfall and competitiveness against other centres and maintaining the vitality that we have already, building on it and developing Neath’s potential into a thriving commercial hub. Loyal local people and visitors regularly shop and use the wide variety of other town centre businesses and facilities making the town centre a very important place, an economic driver of major importance, with over 3,000 people employed or working here. Therefore, it is of vital importance to get the overall town centre experience “right” for all.
There are 270 BID Businesses represented plus other voluntary contributors and businesses with Rateble Values under £6,000
How will Neath Inspired Limited tackle the issues?
What will be delivered?
Neath Inspired Business Improvement District will leave a positive legacy for Neath’s future by making the town a great place to visit, shop and work.
For more information on BIDs visit the British BIDs website here.