A Business Improvement District (BID) is a defined geographical area which the local businesses have voted to invest in collectively to improve its environment. A BID organisation is then established to administer and achieve this which answers to a Board of local business people. BIDs provide additional or improved services as identified and requested by local businesses which is funded by a levy on local businesses. Services are specific to the needs of the area and range from public realm improvements, member benefits, extra safety, cleaning or environmental measures.
There are over 315 BIDs nationwide. Our neighbours are the New West End Company (NWEC), Heart of London Business Alliance, Marble Arch BID, Paddington BID, The Fitzrovia Partnership and Victoria BID.
Our ballot and renewal ballot
For a BID ballot to be successful, it must be won on two counts:
1 / A straight majority of the number of those voting
2 / By a majority in the rateable value of those voting
We received an overwhelming majority on both counts in our renewal ballot in November 2017 when 95% of members voted YES by number and 96% by rateable value with 80% of businesses voting. Our initial ballot was held in 2013 where over 80% of businesses voting, voted to form the BID.
BID term & renewal
Every five years each Business Improvement District in the UK is legally required to ask its members to vote again so that its services and projects can continue and further projects can be created. For us, that was held in November 2017, five years on from when we formed. Our next ballot will be held in October-November 2022.
Full BID levy rules
The formation of a BID is enabled by Government legislation and regulation. You can view a full version of our BID levy rules here as required by statute. If you have any questions please do get in touch. You can view all of our organisational documents including our annual reports, initial BID proposal and annual invoice leaflets here.