HALESOWEN will be the first place in Dudley borough to have a Business Improvement District, which will generate cash to improve trade, if plans are approved.

On Wednesday Dudley Council’s cabinet will be asked to approve the proposal for the Halesowen Business Improvement District (BID) and associated timescales.

BIDs are made up of local businesses, which each pay a levy, a small percentage of a business’s rateable value, to a BID company.

The proposal put forward by the Halesowen BID organisers, supported by the Halesowen Chamber of Trade and other organisations, estimates that approximately £120,000 each year could be generated via the levy.

The funds would then be used on improvements, decided by members of the BID, on things like improved security, events, promotion and the environment.

It would be ring-fenced to spend on specific projects agreed by the businesses in the BID for the benefit of trade in their area.

Councillor Khurshid Ahmed, cabinet member for planning and economic development, said: “There are more than 200 BIDs operating nationally, which have a proven track record in bringing businesses together to improve their districts, attract additional funding and promote what they have to offer.

“We now have an exciting opportunity to introduce the first BID here in the borough.

"There is a strong business case in place and if successful it would give businesses the opportunity to take control and invest in the areas they operate within to boost trade, jobs and footfall in the area.

He added: "Any investment of this kind will always be welcomed by the authority.”

If proposals are approved by cabinet, businesses in the area would be asked to take part in a ballot to vote in favour of the proposal later this summer.

If successful the BID would begin operating shortly afterwards.