A summit being held in the spring is set to look at why Business Improvement Districts, like the one voted for in Newport recently, have become so popular.

Speakers at next March’s Future High Street Summit are gearing up to explore the ins and outs of the BID industry – allowing delegates the opportunity to decide on the best course for their local high street regeneration.

Dan Smith, of M4 Property Consultants, who supported the move to set up a BID in Newport, said: "With nearly 200 bids across the UK they are becoming increasingly important to town and their revitalisation. While on their own they are not the solution to all of the UK's retailing problems, they do provide a platform for businesses located within them to come together and address some issues they face.

"For Newport, there is positive news already with the Friars Walk development which will help draw people back to the city centre. However, this needs to be enhanced further by other improvements to the city centre to help the whole of the city centre to thrive again.

"There are numerous issues such as safety, cleanliness, car parking, the right retail / leisure mix that all need to be addressed. In addition, strong independent retailers making newport different to any other retailing centres need to be supported and encouraged further.

"In our opinion, the business improvement district is vital in achieving these goals. The bid will bring together approximately 450 businesses, both national and independents retailers and also other companies to provide a single voice that has to be heard. In addition, the bid will also have a significant budget to spend on those areas that are identified as important to attract people back to the city centre.

"The bid provides power to its members to make significant changes for themselves, not rely on others to do it for them. We believe it could prove crucial in helping newport city centre to become inviting for residents, businesses and visitors alike. "However, establishing the bid is only the first stage, all those people within the bid area now need to embrace it, provide their support and contribute to making a real difference for Newport. We will continue to give it our support and hope others do as well," he said.

Clare Rayner, high street campaigner and founder of the Future High Street Summit, said: “BIDs are becoming a more popular option for business communities who want to improve their local high streets. The BID industry has been growing since its inception a decade ago, and 2013 and 2014 have seen higher numbers of BIDs introduced across the country.

“At the Future High Street Summit, we want to show attendees how the BID industry has evolved and why forming a BID could be a viable option for their local high street development.”

Last month, the Department for Communities and Local Government released its Review of BIDs to explore how BIDs are helping shape the future of town centres.

Mark Holder, Team Leader for DCLG’s Town Centre and High Streets Division, said: “BIDs’ contribution to the local regeneration fund is considerable. DCLG applauds the ongoing success of these business-led economic development organisations.

“The outcome of the review points clearly to closer collaboration between BIDs and their local authorities, as well as improving the accountability and quality of BIDs. This will encourage more areas to create BIDs able to deliver for their businesses and for their local community. I will present the findings from the Review in more detail at the Summit.”

The Future High Street Summit will be held at Nottingham Conference Centre within Nottingham Trent University on March 25 and 26. For more information on the event and to see an outline agenda with the other featured high street factors, delegates can visit www.futurehighstreet.co.uk.