A BID (Business Improvement District) is a geographically defined area where businesses come together and agree to invest collectively in projects and services which improve their trading environment.
The BID invests millions of pounds, lobbies at a local and national level and acts as the key voice for the town centre and its business community.
To find out more, visit our What is a BID page
Cheltenham BID represents and supports more than 700 levy paying businesses and promotes Cheltenham as a safe, secure, attractive, clean, welcoming, vibrant, and connected place to spend time.
Cheltenham BID was first established in 2016, and began a new five-year term in August 2021 with the support of levy payers in the ballot in June 2021.
The Cheltenham BID will operate until 31 March 2026. Shortly before the end of the second term, the directors will seek business approval for a new term in a fresh ballot and with a new business plan if they believe a further term would be of benefit.
A BID delivers the projects set out in its Business Plan over the term of the BID, for the benefit of the BID levy payers. In Cheltenham, the projects will cover the following areas of activity:
Yes. The reason BIDs are so popular around the country is that the process is democratic and everyone in the BID area who would have to pay the levy has an opportunity to vote in the ballot. Each levy payer makes their own choice whether to vote or not.
As with a general or local election, everyone in the proposed BID area has the chance to vote in the ballot and, after the election, everyone is bound by the way the majority voted. Because the majority voted Yes, everyone pays and the BID will work to make Cheltenham better for all BID businesses, not just the ones who voted yes.
It will be 1.25% of the rateable value of the premises you occupy, unless you are a tenant of a managed centre or a non-retail charity with no trading income, in which case your levy will be 1% of the rateable value. You can check your rateable value from your business rates bill or by searching here.
In the first year, the levy invoices will be sent out in August, soon after the BID’s second term begins. They will be due for payment within 14 days. Your first levy bill be for a period of eight months, from August 2021 to March 2022. In subsequent years, they will reach you at the start of each BID financial year, which runs from April to March.
Yes, the BID levy is payable annually in advance within 14 days of receipt of the levy invoice.
If you move out of your current premises, you will receive a refund of the unused portion of your BID levy.
If you move into premises in the BID area which are eligible for the levy, you will be liable to pay the BID levy for the unexpired portion of the financial year.