The City of Greater Bendigo is working with the Bendigo Traders Association (BTA) to launch a promotional fund to market businesses in the city centre. BTA aims to raise $300,000 each year towards the City Central Fund. This will be raised from a special rate applied to CBD businesses by the City of Greater Bendigo.
Greater Bendigo’s Director of City Futures, Stan Liacos, said the rate would be a yearly levy based on the Capital Improved Value of all participating properties. He said the average rate would be around $400 per property.
The BTA believes that through a coordinated and integrated advertising and marketing campaign, the City Central Fund will benefit all business in the CBD. The campaign will unite local businesses, improve communication and promote Bendigo’s retail heart to local residents and visitors.
Assuming all goes well, Stan Liacos expects the fund to be in place early next year.
“A number of concerns have been raised by local traders, which has stalled the launch of the fund,” he said. “Council believes the fund is a terrific idea, but we want to address all concerns to ensure we present the best model possible.”
BTA spokesman and local businessman, Kevin de Vries, said the City Central Fund will maximise opportunities and drive commercial activity in the heart of the city into the future.
“There is strength in a united approach to tackling the challenges and problems we all share, and try to impact in the future,” he said. “Bendigo’s retail sector is expanding and it is important for business operators to unite and ensure their place in the City. CBD trade cannot expand as much as it can unite.”
Promotional funds have been used in other Victorian regional cities such as Geelong, Ballarat, Shepparton and Swan Hill to great advantage. Bendigo is the largest regional city in Australia yet to implement such an initiative.
As part of the campaign, the BTA has released a map of the revised boundaries of the area affected by the proposed fund. The map was drawn up in close consultation with the City of Greater Bendigo’s Business Development Unit and shows that the CBD includes more than 500 businesses.
Kevin de Vries said many businesses will see the benefits of the promotional fund through increased takings, while others will see positive growth, as the value of business increases in line with the implementation of the fund’s initiatives.
“A more vibrant city centre creates a better environment for future investment and development,” Kevin de Vries said. “From that, there are additional benefits to be shared, especially among service providers.”
For further information contact the City of Greater Bendigo’s Business Development Unit on (03) 5434 6000.
