A Business Improvement District (BID) allows businesses more autonomy over how their trading environment appears to employees, customers and clients.
If a BID proposal is approved in a ballot, eligible businesses pay into a fund which is ring-fenced for local improvement projects.
A Board is made up of local business people and administered by a small, dedicated team. So businesses decide where their money is spent.
A Business Improvement District (BID) allows businesses more autonomy over how their trading environment appears to employees, customers and clients.
BIDs do not subsidise the normal work of the local authority and other agencies such as the Police. In fact, introducing a BID can attract better funding and greater attention from those agencies. The BID money funds those things businesses believe will add value to operations.
Legislation to create BIDs in the UK was approved by Parliament in September 2004.