Over £225,000 of savings identified for visitor economy businesses in Herefordshire

Place Support Partnership (PSP) are dedicated to helping the UK’s Business Improvement Districts (BIDs) and Local Authorities thrive.

The company has been commissioned to deliver over 100 programmes with BIDs and Local Authorities across the UK and has identified millions in savings since 2021.

Introduction

Herefordshire County Business Improvement District (BID) commissioned Place Support Partnership to launch county wide cost savings programme running for 15 months, funded by the UK Shared Prosperity Fund.

This partnership provided free advice and support to all Visitor Economy Herefordshire businesses to help them save money on their business costs. This included savings on new contracts, advice on the cost-of-doing-business crisis, and how to achieve the best value on essential services such as electricity, gas, water and insurance.

Key Results

• Over £225k of savings identified

• £143k of this realised

• An ROI of £10 for every £1 invested in the scheme

• Over 50 businesses engaged

• Programme was extended 2 months to support further businesses following great success

• Support delivered across a number of sectors across the borough

• Savings have been identified in a variety of areas for businesses including electricity, gas, water, merchant fees, insurance and telecoms

Testimonial

“This programme comes at a critical time for businesses in need of support and advice which really delivers for them. As a BID we are delighted to support this and can’t wait to see the cost savings which can be realised in the County.”

Diane Mansell, CEO of Herefordshire County BID