BUSINESS owners and community leaders are being invited to meetings later this month in Northallerton and Richmond in a bid to boost the towns' economies.

Retailers and other small and medium-sized businesses have been working with local authority representatives and others with an interest in building on the towns' strengths – and are proposing separate Business Improvement Districts (BID) be established.

Melva Steckles, chairman of Richmond and Lower Swaledale Business Association, said it was big news for Richmond, and she hoped businesses would get involved.

She said: “By paying an additional business rate per year of just one per cent of a business’s rateable value, the scheme means we can potentially access up to £60,000 each year to spend on improving Richmond for local businesses.

“And one per cent isn’t much - in fact, most businesses will pay less than £100 per year - which is only £1.90 per week.”

The RLSBA is holding a drop in event for firms to find out more, and to hear any ideas on what businesses would like money spending on if the BID is successful over the five years of the scheme.

If the BID is approved by a majority vote among business owners within the proposed area, then all businesses within that area pay a levy based on rateable value, with the smallest businesses exempt.

The levy funds a BID group made up of local businesses that determines – through consultation – how the funds are used for the benefit of all.

Key proposals for Northallerton include marketing to sell what the town has to offer further afield and supporting existing and new events that draw visitors in; providing better business support; enhancing the town’s appearance and environment and taking steps to make visits to the town even more safe and secure. A manager would be employed to lead these plans.

Charles Barker, Northallerton Retail and Business Forum chairman, said: “In order to take Northallerton forward and offset the threats posed to our High Street by changing shopping habits and economic austerity, we need a properly funded programme of investment in promotion and events.”

Meetings take place in the Kings Head Hotel, Richmond, on Tuesday, February 23 from 3pm to 7pm, and in Northallerton from 6pm to 8pm on Thursday, February 25 in the upstairs Barkers Kitchen restaurant. Entry will be via Barkers Arcade.