IN THE coming months, ratepayers across the city’s commercial district will be asked to voice their opinions on plans to create a Business Improvement District (BID) in the area. The proposed BID would become Liverpool’s second, following the successful City Central application five years ago, and would be bounded by Leeds Street to the north and James Street to the south, and run from east-west from The Strand to Pall Mall.

It would mirror the boundaries currently overseen by the Liverpool Commercial District Partnership.

A successful BID application will deliver a funding boost in excess of £600,000 per year for enhanced marketing, maintenance and physical improvements.

For that reason alone, it gets my vote, but there are plenty of other positives to the BID application which should not be ignored.

There can be no doubt that Liverpool’s commercial district has undergone a major transition in recent years.

There have been significant enhancements in the look and feel of the area, giving it a real sense of place.

BID status will provide a robust platform for the commercial district to continue on this upward curve of growth.

From our perspective, a key challenge remains the balance between the success of the night-time economy and the needs of stakeholders during the daytime.

In particular, the detritus and litter left over from the night before can be a real headache, so anything that helps to remedy that situation is welcome.

A successful BID application would more than deliver on those needs, as the extra resources that BID status brings can serve to maintain the local environment and enhance areas of public realm.

Further positives such as improved transport and infrastructure make BID status an attractive proposition for all those who will be touched by its impact.

It cannot be overlooked that the aforementioned funding boost would be generated through a levy equivalent to 1% of business rates.

This, of course, represents a financial consideration for any business.

However, when you consider the potential return on that investment and the range of additional positives such as improved transport and infrastructure, it clearly adds up to a good deal for stakeholders in the area.