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Shops, bars, restaurants and entertainment venues vying to become Birmingham’s answer to Covent Garden will begin voting next months on whether to accept the Southside Business Improvement District proposal.

The vote, during October and November, comes after the BID proposal was launched at Birmingham Hippodrome and backers say the move would bring in about £1.75 million a year for improvements to Southside – an area taking in the Chinese Quarter, Gay Village and the Arcadian among other spots.

The BID will be financed by an annual two per cent levy of rateable value on 300 properties, collected by Birmingham City Council. It would pay for environmental improvement and marketing for the district.

Businesses across all sectors will vote yes or no and 50 per cent representing half of the rateable value must give their approval for the scheme to go ahead.

Stuart Griffiths, chair of BID promoters Southside Steering Group and chief executive of the Hippodrome, said: “I and many others believe that now is the right time to build on what has been achieved and realise Southside’s full potential as a contemporary urban village set within Birmingham’s wider city centre. This BID Proposal sets out plans that we have developed in consultation with the local businesses.

“Southside needs to be more accessible and welcoming, more vibrant and attractive both during the day and in the evening and better organised to promote the district and the interests of its businesses.

"No single organisation currently represents all of the business interests in the area with the capacity to promote and champion this diverse market mix. With an annual budget of £350,000 and £1.75 million over five years, a Southside BID could do just that.”

The proposal lists ten BID pledges, key actions, the first year’s budget and explains the voting process. Pledges include an improved visitor experience, a safe and welcoming environment, new and repeat customers, positive brand and profile, a proactive local management team, effective business ‘voice’, added value, sustained additional investment, support from other Birmingham city centre BIDs and business- led local decisions.

The Southside Steering Group, formed in 2008, when businesses came together to consider the issues and opportunities for the area and to develop the BID.

The group is made up of business owners together with West Midlands Police and Birmingham City Council.

Councillor Timothy Huxtable, cabinet member for transportation and regeneration said: “The city council gave its full backing to the Southside BID at the cabinet meeting in July when a package of financial support was agreed together with nine ‘yes’ votes in relation to the city council property interests in the proposed BID area.

“Southside has the potential to attract more investment, employment and visitors over the coming years.”

Southside has emerged as a distinctive quarter within the city centre, driven by a mix of developments including restaurants, bars and clubs which characterise the area’s Chinese Quarter and Gay Village, the Arcadian Centre, the Hippodrome, Birmingham Royal Ballet, Radisson Blu Hotel and the O2 Academy. The area is also home to a range of city living developments, retail, commercial and offices.

Centre City House in Hill Street is home to Legal and General, which employs 600 staff.

Operations director Andy Webb said: “Having worked in and visited many parts of the º£½ÇÊÓƵ, I can see first hand that Southside has many unique opportunities ahead and the ‘one voice’ of a BID will ensure that these are exploited to their full potential.”

Voting runs from October 4 to November 11 and the results will be announced on November 12.

There are currently three BIDs operating in Birmingham city centre, collectively bringing in more than £10 million of additional private sector investment over their five-year terms.

They include Broad Street, the city centre retail district, and Colmore Business District.