A plan to beat the economic gloom and invigorate Wimbledon’s businesses will be put to entrepreneurs who will vote on their future in the New Year.

On Monday night, Merton Council agreed a timetable in which businesses in Wimbledon town centre and the Village will be asked to support a Business Improvement District.

Subject to a vote, each business will be asked to pay a levy into a pot which will be used for enhancing Wimbledon’s commercial experience by increasing funds for marketing, street improvements and improving safety.

Diana Sterck, chief executive of Merton Chamber of Commerce, said: “If it goes ahead it will means a four-fold increase in our activity – from £120,000 a year to over £400,000.

“We think this would be a really positive step forward for Wimbledon as a destination, not just for people from outside Merton but just for our residents too.”

A Business Improvement District (BID) is a not-for-profit company set by businesses in an area to improve its trading conditions.

If successful, the Wimbledon BID term will be for five years from April 1, 2012 and will be called ‘Love Wimbledon’.

If the BID is ratified by a majority of businesses, it is expected to raise about £465,000 by levying one per cent of the rateable value of each eligible ratepayer in the area, which includes about 430 businesses which would pay between £200 - £1,000 a year.

Ballots will be sent out to businesses on December 12, with the deadline for voting set at February 9, 2012. The ballot result will be announced on the following day.

The council’s cabinet member for regeneration, Councillor Andrew Judge, said it was vital for Wimbledon to remain competitive with nearby town centres such as Kingston and Croydon.

Coun Judge said: “Wimbledon has a unique quality and a name with global recognition, so the potential for businesses can achieve there is immense.

"It’s all about competitiveness and allowing businesses to take the initiative themselves on bringing forward improvements.”

What improvements would you make to improve business in Wimbledon? Leave a comment below or contact Omar by calling 020 8722 6335; tweeting @OmarOakes or emailing: ooakes@london.newsquest.co.uk.