Leyton Businesses Vote YES for Argall BID

An overwhelming 86% of the companies that voted in the ballot were in favour of a BID in the Argall area; the businesses that voted YES, consisted of 93% of the rateable value. A total of 94 businesses in the Argall Industrial area took part in the vote of which 81 voted for the BID.

This result is the culmination of more than 3 years work by business support agencies in North London. North London Business undertook the consultation with local businesses and established the Business Improvement District on behalf of the business community and the local authority. North London Business Chief Executive, Gary Ince said “This is the first successful BID in North London and only the 3rd industrial BID in London. It’s great to see such a positive contribution and commitment to the area from the local business community and we believe this will ensure the area sees the improvement it wants. This vote will secure the foundation built by the Council and North London Business ensuring the London Borough of Waltham Forest continues to be recognized as one of London’s premier business districts.” 

The BID formation was proposed by the Argall Business Park Association (ABPA) and the Rigg Approach Business Park Association (RABPA) which have been active for a number of years. Their status as business associations has enabled them to work cohesively to achieve this result, which they will use as a springboard to form the Argall BID company, which will now have a guaranteed annual budget of at least £50,000 for the next 5 years. Waltham Forest Council have also ring-fenced an additional £30,000 of funding for the Argall BID company and it is planned that further public and private match funding will be levered in to supplement these funds. In 2007, the Argall BID company want to improve estate-wide signage, set up a dedicated web-site (www.argallbid.co.uk), introduce estate recycling facilities, as well as carry out a thorough review and improvement of CCTV systems in order to upgrade security.

The shadow Argall BID company spokesman said “We are delighted with the result and without a doubt, the guaranteed funds for the area will enable us to improve our working environment over the next 5 years at least. Another of the big advantages of the Argall BID is that it will be a powerful voice for around 370 businesses, and the BID status will give us the lobbying power that will enable us to effect real change in our local area.”

Councillor Terry Wheeler, Cabinet Member for Enterprise and Investment, said: "I am delighted with the result of the ballot. It is in line with the regeneration of the area and the Council's vision to nurture entrepreneurial spirit and support business. The BID scheme will also work to encourage development within the Leyton area by creating a more attractive environment in which to invest."

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