A feasibility study was carried out last year that showed support for a BID, which are created to improve a defined commercial area.
Banbury Chamber of Commerce is working with Cherwell District Council to start discussions with local businesses to find out what they want to achieve.
The feasibility study indicated that 74 per cent of businesses in Banbury are in favour of forming a BID and town businesses will be invited to vote for or against it in a ballot in October.
If the BID is successfully voted through it will be funded by a small additional levy, the exact details of will be ironed out at a later date, which all local businesses within the BID will be required to pay.
Nick Poole, Chairman of the Chamber of Commerce, said; “We are delighted to be playing a pro-active role in driving discussions about the BID. This is a fantastic opportunity for Banbury and will be positive for many town centre businesses.
“It’s also a great opportunity for some our bigger companies to participate in the growth of Banbury as an important regional centre. We hope to see a packed room and lots of questions for our panel”.
The seminar, which starts at 9.30am, will include a question and answer panel and chief executives Stephanie Kerr and Aftab Gaffar from two successful BID operators in Leamington Spa and Rugby will share their experiences.
Other panellists will include MP Victoria Prentis, Banbury Town Council leader Kieron Mallon, Lynn Pratt from CDC and Simon Smith, from the Chamber of Commerce.