BUSINESS SUPPORT
Helping pave the way for once-in-a-generation inward investment and new business-related technologies.
Transformative funding
This is perhaps the biggest story of the BID’s work and possibly the least known. Since its inception, the BID has been closely involved with other local stakeholders in securing and influencing millions of pounds of capital investment into our town. Essentially, it has played a significant role in shaping the regeneration of Penzance.
Over the second term, the BID secured over £500,000 in additional income to supplement the BID levy. This has helped us to fund key projects and initiatives.
The BID was also integral in securing the £21.5m of Penzance Town Fund capital investment. The seven projects in the Town Fund include the renovation of the Market House, which will feature a food hall and a restaurant with views over the town. It also includes the £2.45m in Enterprise Grants that are helping local businesses grow. We are at the table influencing how the £21.5m Town Deal funds are spent, ensuring that your interests are protected. Find out more about our role in generating funding opportunities.
Business intelligence
We are determined to do everything possible to give Penzance businesses an edge. That includes installing nine Geosense footfall readers in the town that capture anonymised data from mobile phones. This information helps us to understand visitor behaviour and will inform us where to place signage to direct people into the retail centres. It will also provide businesses with invaluable information to inform their own strategies. For instance, the data tells us that in the summer, Sunday is as busy in the town as Wednesday right until the end of September. Could this information inform your opening hours?
Town-wide free Wi-Fi
From 2025, Penzance will offer free WiFi across the town via a town app. This app will also give BID levy payers the opportunity to talk to visitors about sales, offers, discounts etc. This exciting development will also provide further anonymised information to inform our understanding of visitor behaviour.
If you’d like to find out more about what the BID has done so far and our goals for the third term, you can download our Third Term Business Plan 2025-2030 from this page.