Birmingham Forward sees turnover top £500,000
Lobbying and networking organisation Birmingham Forward had a bumper year last year as its turnover exceeded £500,000 for the first time thanks to membership fees and sponsorship.
Birmingham Forward, which works on behalf of the city’s professional services sector, recorded a pre-tax surplus of just under £18,000 for 2008, reflecting the success of the organisation in providing a calendar of diverse events and bringing projects to fruition.
Last month a majority of organisations in Birmingham’s professional and financial services district backed plans to start a Business Improvement District (BID) in the Colmore Row area.
Birmingham Forward, with support from its members, sponsors and partners including the Birmingham City Centre Partnership, had made the BID a major priority.
The Colmore Business District will be launched in April as a stand-alone not-for-profit business.
The BID will be financed by a one per cent levy on rateable value which will be collected by Birmingham City Council. It is anticipated in the first five year phase that at least £3.4 million will be generated to fund improvements and developments as set out in the BID proposal. Next month will also see the Administration Court begin work as the first step in the Forward-led campaign to bring a permanent, resident High Court to the city.
Birmingham Forward Chairman Richard Edwards said: “Once again this year, Birmingham Forward has delivered a surplus that will add to the organisation’s reserves.
“As a membership organisation and against the background of a more challenging economic climate, it’s important we run an efficient operation which our executive has done again this year.
“Our robust financial position means that we are able to continue providing a diverse range of events, resource the representation of Birmingham’s professional and financial services sector and invest in key initiatives such as our campaign for the Colmore Business District.
“I believe that the contribution of Birmingham Forward can make has never been more important than in the face of current economic conditions.
“We are well placed to continue the work of promoting Birmingham and this sector on behalf of our members under the leadership of incoming chair Sue Lewis, the Senior Partner of Eversheds.”
Birmingham Forward Director Martyn Finnegan of HBJ Gateley Waring will step down from his responsibility for the organisation’s finances at the AGM after four years.
Sally Beavan, a partner at PKF, will then take board responsibility for Birmingham Forward finances. Ms Beavan had previously been responsible for overseeing Birmingham Future’s financial management.
