26 focus on winchester
Business confidence up 10% from last year
The latest Winchester Business Improvement District (BID) business barometer reveals business confidence for the 62 businesses is at its highest since the survey was first launched in 2011. Sue Hughes of The Business Magazine takes a look at why Winchester is punching above its weight
Winchester Business Improvement District (BID) has been in operation since 2008 and is delivered through Winchester City Centre Partnership (WCCP), a not-for-profit organisation. The BID is funded by 844 businesses within Winchester City Centre paying a 1.5% levy based on their rateable value. Businesses voted to fund another five years of the BID, taking it into its second term which started in 2013.
“The quarterly Winchester Business Barometer shows that the businesses of the city have weathered the recent financial downturn with some success and are now more optimistic for the future than they have been for the past two years,“ said Chris Turner, executive director of Winchester BID.
The survey, undertaken for the BID by the University of Winchester Business School, also indicated that the overall business confidence has increased by 10% since last year and median takings rose by 3.7%, the highest figure for 12 months.
At the time the survey was conducted there were seven vacant retail sites along the entire length of the High Street, which translated into a vacancy rate of 5.4%, the lowest in 12 months.
Businesses reporting a positive consumer response included clothes, fashion, shoes, stationery, jewellery, crafts, hairdressing, travel, wine and estate agents with demand slowly increasing, but while the overall outlook proved positive with trading conditions remaining very
competitive, business owners reported that, while optimistic for the year ahead, the majority agreed the High Street had not yet completely recovered from the recession.
Businesses voted to fund another five years of the BID, taking it into its second term
So what is the BID doing that has given local businesses such confidence?
“Businesses here are very engaged on everything – markets, hanging baskets and festivals, through to website development, and we use the University of Winchester Business School to undertake our quarterly business report,“ Turner said.
“The BID has a solid background now it has entered its second term, and knows where it is going. Therefore it is well placed to take advantage as we emerge from recession – and is looking at more focused business support for its third term.
A key target for Winchester BID is to increase footfall and usage of the city centre. The BID funds seven monitors to measure footfall 365 days of the year 24 hours a day. Data is collected on a daily basis via the BID website and updated every night.
“We’ve also got the View Winchester responsive website design technology, a directory featuring Winchester businesses and their websites which works on any platform.“
The BID has also launched a new Business Centre at Parchment Street, providing a professional, innovative hub for small start- up business growth and development in the city. A shared modern workspace, it is home to 34 businesses, and many have opted for the premium package, which includes a registered business address.
“We’re fledging new businesses at the Centre and hope they will move on to take city centre office space and grow as part of our business community. We are looking into EU Horizon 2020 funding for possible small businesses support.
“Winchester is a tribal business community that works together and organisations are much, much better at doing business together than they were five years ago – for example we have great creative people for websites, design and print and they look to each other and recommend each other.
The BID has launched a new Business Centre at Parchment Street, providing a professional, innovative hub for small start-up business growth and development in the city
“I’m doing a lot more inward investment work. This might comprise taking people around and helping with change of use applications because agents now send people to us to assist with relocation. It works well for everyone.“
This beautiful city combines the strength of its professional sector with classic ’historic Winchester’, something actively promoted by the BID. Traffic issues crop up when the city in question is small and medieval but punching above its weight. There are a limited number of car parks, but BID businesses understand it is better to have spaces available for customers and clients, than staff or away-day commuters, so the majority of staff use the park and ride option, or train/bicycle.
Winchester: where business strength meets historic beauty
There are two major developments currently being planned within Winchester. Stephen Gates, managing director of Denplan and Hampshire Chamber Winchester area committee chairman, explained what these recently-approved developments will bring.
“The first, Barton Farm, is a major strategic initiative to increase the availability of housing stock and to allow an increasing number of workers to live closer to their place of employment. When it is completed, Barton Farm will include 2,000 private and affordable homes, a primary school, a community centre, public open space, sports pitches, children’s play areas, a village green and a town square.
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“Silver Hill is a major new retail development to transform the city involving a £130 million plan to bring in thousands of new jobs, providing a new retail gateway to the High Street – with Sainsbury’s already signed-up with a 18,500 sq ft store. This new development will provide Winchester with a unique blend of sites of historical and cultural interest, tourist sites of national significance, a range of boutique retail outlets and access to the latest high street shopping. Development on the site could start as soon as the end of 2014, subject to final planning approval.
“These two major developments are also supported by a shorter-term focus on ensuring a vibrant city centre and rural surrounds. With
Winchester now acknowledged as the UK’s premier Christmas City, with the accompanying Winchester Cathedral Craft Market, there is a full range of events provided throughout the year for visitors via Winchester BID.
“There is an equally-strong business lobby represented by the Hampshire Chamber of Commerce, which works to support city- wide events such as the Winchester Business Excellence Awards – an opportunity for local businesses to showcase their talent on a city- wide stage. Hampshire Chamber of Commerce is also taking a leading role in delivering support for exporters in the area, and leads the UKTI’s programme of export support for Romania.“
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – MAY 2014
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