New and improved BID Industry Criteria & Guidance launches17 January 2017
A Business Improvement District (BID) is a business-led and business funded body formed to improve a defined commercial area.
Through contribution of a BID levy, businesses decide and direct what they want for their area. With over 260 BIDs in the UK, the BID Industry Criteria and Guidance is published to support locations during the development and renewal phase of their BID, acting as a ‘code of conduct’ for the industry.
British BIDs present the annual Industry Criteria & Guidance revised for 2017. This year’s guidelines are published in collaboration with more partners; ATCM, Revo, ACS, BRC, intu and BPF.
The Industry Criteria & Guidance is an important tool for renewing and developing BIDs. The easy-to-read guidelines provide a clear indication of what the minimum expectations of levy payers are likely to be and therefore is an invaluable assistance to BIDs going to ballot.
As the industry grows and matures, BIDs are now a major part of our towns and cities. With increased presence is increased demand from voters to understand the full benefits of a BID and how each is a story of success and business need.
To make it easier for those developing proposals, the guidelines, for the first time, include a simple checklist of the most top 10 important points to remember, as asked by levy payers. We hope you find these helpful.
Edward Cooke, Chief Executive of retail property body Revo, said:
“We are pleased to partner with British BIDS on this critical update of Criteria & Guidance. The report is timely, coming just as the Local Government Finance Bill has been introduced and which provides the foundation for property owner BIDs – which we have long advocated on the basis that they promise to help transform towns and cities where multiple ownership is an obstacle to the successful evolution of places.”