A Business Improvement District (BID) is a business-led and business-funded body formed to improve a defined commercial area. The benefits of BIDs cited by the businesses they represent are wide-ranging and include:
In the UK, the majority of BIDs exist in town centres, however they are also in industrial, commercial and mixed-use locations.
Annual income is typically £200k-600k but can be as little as £50,000 per annum and over £2 million.
The first BID in England started in December 2004.
The average size of a BID is 300-400 businesses, with some of the smallest having fewer than 50 and the largest over 1,000.