Update on Colchester BID

Colchester Community Interest Company (CIC) has appointed CMS to provide full BID development support.

 Colchester is Britain's oldest recorded town. Its thriving history is also complimented by present-day modern visitor attractions, a wide range of retailers and a popular array of food and drink premises.   Renewed feasibility research to over 900 businesses in the area is expected to take place over the next month. The feasibility research will report back on the commonality of interest amongst businesses and an overview of the next steps and requirements for a BID to be developed and explored further. BIDs in the surrounding area of Colchester are prevalent and are proving great worth for their places.  The CMS team will all work closely to investigate the priorities and assess the needs for businesses in Colchester. Carl Milton, Chairman of Colchester Presents and Managing Director of high street department store, Fenwick, commented: "If Colchester town centre is not to be left behind by other towns and cities in the region, we must find a sustainable funding model. The view at our shareholders meeting was that BID is that model. However, for a BID to go ahead, we require the support of town centre businesses and we are now embarking on a process which will seek levels of support for a Colchester BID". We look forward to supporting and exploring further opportunities for Colchester and its potential destination offering. More updates to follow.

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