Times of Tunbridge Wells 24th January 2024

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Times

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Wednesday January 24 | 2024

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RTW Together prepares its pitch to businesses ahead of new BID vote

A FREE WEBINAR SERIES TAKING YOUR BUSINESS FROM GOOD TO GREAT

IN today’s Times we speak exclusively to RTW Together Business Improvement District (BID) Chief Executive Alex Green ahead of the BID renewal ballot next month. The consultation process will last for the whole of February and will involve businesses in Tunbridge Wells, that are already part of the BID, voting to approve a second term. RTW Together is a Community Interest Company which runs the Business Improvement District for Tunbridge Wells. The BID is a defined area of the town centre, running from the large Sainsbury’s in the south up to the roundabout where Grosvenor Road meets St John’s Road. Businesses contribute an annual levy based on the rateable value of their premises. Since 2019, £2.1million of funds have been raised. RTW Together manages these funds to carry out improvements, marketing and events to bolster trading

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conditions within the town centre. This includes funding the town’s Christmas lights, running various campaigns to drive external footfall to the area and helping to promote different local seasonal activities including the recent ‘Joy to the Wells’ campaign.

Initiatives “In essence, local businesses within the town centre collectively pay for RTW Together, which then invests that resource in a range of initiatives that support business, and in turn, local residents. “One of the main benefits being that, as a collective, we can achieve economies in scale, whether it’s radio advertising, street furniture, or CCTV – things a sole business might not be able to afford alone,” explains Alex. BIDs are usually made up of 300-700 members, but Tunbridge Wells is larger, with around 650 already signed up.

Since launching in 2019, the town has grown, with 5,000 more businesses established here and surrounding areas. And now, five years on, the future of RTW Together BID is in the hands of local member businesses once more at the re-ballot in February. Tunbridge Wells is well known for offering a wealth of entertainment, hospitality, heritage and shopping for both locals and tourists. As part of its planning for the next five-year term, RTW Together BID has been consulting local retail, hospitality and general business sectors to understand what they think the town needs in order to continue to thrive. More than 200 of these businesses are professional services, covering the legal, financial, creative and insurance sectors. This particular cohort alone contributes more than £150,000 in levies each year.

Continued on page 4

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