Business Improvement Districts (BIDs) are an American idea that has been imported into the UK with one or two modifications.
The basic idea is that businesses can decide on a package of measures they think their area needs and then vote on whether they want to pay for them or not. If the majority vote yes (and they represent over half of the rateable value of the businesses that vote) in a formal referendum, the money is collected as an extra levy on their Uniform Business Rates (UBR) and it is ring-fenced and cannot be used for anything else.
The actual area is determined by the enthusiasm of businesses to support a BID and the Business Forum is surveying businesses and holding focus groups to find out which areas are potential Business Improvement Districts.
For a video of BID projects click here
This page will keep interested parties updated as we gather more information and BIDs start to take shape.
Business Improvement Districts