What is a BID?

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:

  • Businesses decide and direct what they want for their area
  • Businesses are represented and have a voice in issues affecting the area
  • BID levy money is ring-fenced for use only in the BID area - unlike business rates which are paid in to, and redistributed, by government
  • Increased footfall
  • Improved staff retention
  • Business cost reduction
  • Area promotion
  • Assistance in dealing with the Council, Police and other public bodies

KEY BID FACTS 

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.

Talk to us

  • CMS specialises in the transformation of places, particularly Business Improvement Districts (BIDs).
  • CMS provides on-going support to BIDs ranging between marketing, finance, personnel and quality management issues.
  • Consultancy advice is provided to developing and renewing BIDs alongside British BIDs.