The group hoping to bring more than £1 million worth of investment into Lynn has been disbanded following last week’s no vote from traders.
Lynn Business Improvement District chairman Ben Colson is disappointed with last Friday’s result but says the project was “disbanded by one or two businesses”.
Firms would have been asked to pay a levy on top of their business rates to fund town improvements.
Nearly 54 per cent voted in favour of the scheme but it was lost on a secondary count of rateable value when just under 48 per cent supported the plan.
Mr Colson said: “I think I should be pleased that the business community is so positive about its future that it can turn away from such an opportunity, but I am not sure that it really thinks that way.
“Instead the whole plan has been disbanded by one or maybe two businesses. That is how democracy works, and the steering group has now unfortunately disbanded.”
The committee is unsure what went wrong and cannot go for a second vote for two years.
Now the team is hoping something can be resurrected and is calling on firms to go to the town centre partnership meeting on May 6 at 9.30am in West Norfolk Council offices.
Partnership chairman Darren Taylor said: “The steering group, whilst no longer operating under the proposed BID, is certain that something positive can still come of this, but others do need to step forward and get involved – we’re not giving up on our town.”