LOOKING around Bulwell Market Place it is clear the area has huge potential.

On market days, people from across the area arrive to buy their fresh produce and hunt out a bargain.

For the rest of the week, even though there is nothing in the centre but benches, people use it as a meeting point.

Now the square, which connects Bulwell High Road and Main Street, is the focus of a new plan to regenerate business in Bulwell.

A Nottingham City Council officer has spent two days a week for the past six months in the town centre gathering information and talking to traders in the surrounding shops.

This information will be analysed and strategies developed to promote businesses and attract visitors.

A city council spokesman said: "Over the past six months there have been consultations, information gathering and the officer has been talking to all the traders about what they would like to see.

"Now that we have an idea of what works, we will look to build on that and develop business and trade in Bulwell with the involvement of traders."

As well as building up businesses in the Market Place, it is hoped to plan more events, with the slabs being restored and a new electricity supply put in.

According to a Post survey, just 5.45 per cent of Bullwell shops are empty – which is nearly three times better than the national vacancy rate of 14.3 per cent, although the surveys are carried out slightly differently.

The town's independent shops, nestled between supermarkets and high street stores, also offer fresh produce and unique products.

Despite the popularity of these shops with local people, they do not receive massive footfall from visitors outside the area.

As a result Bulwell Forest councillor Nick McDonald says it is vital that something is done to promote Bulwell and regenerate businesses.

He is looking at a number of possibilities for the area, including a Business Improvement District, where businesses in a defined area pay an additional tax or fee in order to fund improvements within the district's boundaries.

"We are certainly looking at a number of different models and we're also looking at district town centres more generally," he said.

"There are examples of town centres have this Business Improvement District model and we are looking at the moment what is best for Bulwell.

"The difficulty with a Business Improvement District for somewhere like Bulwell is would we be able to generate enough income from businesses to make it worthwhile and is it the right thing to be doing when businesses are perhaps already struggling."

Business Improvement Districts already exist in Nottingham city centre, Beeston and Mansfield.

They provide services such as street cleaning, security, capital improvements, pedestrian and street enhancements, and marketing.

"The aims of a Business Improvement District or something similar would be to provide more structure to the business centre and take the steps that Bulwell needs to improve," said Mr McDonald.

"Whether that's physical elements, whether it's around crime and antisocial behaviour, or more visionary stuff like making people understand what it has to offer.

"What we are very clear about is we cannot do nothing. Over the long term Bulwell would start to struggle."

Bulwell councillor John Hartshorne is working with Mr McDonald on improving the town centre.

He said: "In the current economic climate we do have a few shops that have closed or which are closing down.

"There are plans to put the spotlight on the market place, not just in terms of the activities there but also the market.

"The Business Improvement District is also something which is being worked on and that is bringing some really good ideas.

"I'm more optimistic now than I was five years ago about the future of Bulwell."