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.
It is a business-led body formed to improve a defined commercial area. Funded by businesses, for the benefit of those businesses, a BID enables a coordinated investment into the area and delivers projects and services which are in addition to, and enhance, those already provided by the Councils.
A BID is a not-for-profit company, which can only be formed following consultation and a ballot in which businesses vote on a BID proposal. Following a successful ballot, a BID is created for a maximum five-year term and operates within a legislative framework. During the term, all businesses defined within the business plan will be required to pay the mandatory BID levy, irrespective of whether they cast a vote in the ballot.
BIDs were first established in Canada and the US, and now exist across the world. There are more than 300 BIDs in the UK, including Bath, Bristol, Swindon, Salisbury and Worcester.
All relevant information on BID progress will be posted on our website, so log on regularly to stay up-to-date.
If you are the named person representing a levy paying business and would like to see Minutes from a particular board meeting please email us at info@cheltenhambid.co.uk
or call us on 01242 571123.
We welcome feedback from our levy payers so if you would like to tell us about how our activities have impacted your businesses, share ideas about future events and activities or have an issue you would like us to look into for you, please get in touch.
Our published Annual Reviews can be found here.