The aims of a BID are outlined by the businesses in the area, primarily through a survey, which was conducted in 2015. The priorities for the Newmarket BID were then collated and local businesses were invited to attend one of a series of informal business meetings where there was an update on the progress of the BID and where traders were able to ask questions and give feedback – this is part of the detailed consultation phase. The Task Group – made up of businesses in the area – then assisted in producing a business plan, which was distributed in early 2016.
The confidential vote on whether businesses wished to say yes to a BID in Newmarket took place in April 2016. Local traders voted ‘yes’ with 62% in favour. The BID formally began on 1 July 2016, with a 5 year mandate to make beneficial improvements for the town.