MORE?than 250 Minehead businesses are being asked to contribute over £500,000 across the next five years to help transform the vitality and viability of the town.

If they agree to join a Business Improvement District under a Government scheme, traders will pledge the equivalent of one and a half per cent of their yearly rateable value to finance the project.

That could be around £150 for an average shop and £15,000 for the branch of a national chain, businesses will be told when the proposed scheme is launched at Butlin’s Village on Tuesday, September 5.

Traders will later take part in a ballot to decide whether the scheme goes ahead. If it gets the green light, a business plan will be designed to take the town forward over the next five years.

Money to develop a Minehead BID has come from a Government loan fund which will cover start-up costs.

“This is the biggest opportunity Minehead business people have had to influence major changes in the town,” said Graham Sizer, vice-chairman of Minehead Chamber of Commerce, which is organising the launch.

“The proposed BID will help us deliver projects and initiatives to support the town centre, helping businesses to thrive.

“This is about the business community taking a leading role in how our town develops in the future.”

He said that the scheme could inject more than £500,000 into the town centre over the next five years. It would be run by a not-for-profit company, probably with a part-time manager.

“When we carried out a feasibility study earlier in the year we were delighted by the positive reception that the proposed scheme received from a wide range of business people in the town.”