MAY JUN 17

N E W S
Can BIDs Revitalise Cheshire?
What are BIDs, and why are they so good for the business community? A Business Improvement District (BID) is a
business-led partnership, usually operating within a local authority boundary, created through a ballot process to
provide additional services to local businesses.
There is no limit on what extra services
can be provided, so improvements and
projects are varied and wide-ranging,
tailored to meet specific needs of the
local business community and
encourage growth, for example,
through:
· Increased footfall
· Improved staff retention
· Business cost reduction
· Area promotion
· Business networking
· Assistance in dealing with the
Council, Police and other public
bodies.
Being part of a BID means local
businesses have more influence over
issues that affect them and can
actually direct what improvements
they want to see in their areas. Some
BIDs concentrate on town centres,
while some are focused on other
commercial, industrial and mixed use
locations.
Who funds a BID and who
can establish one?
A BID is funded primarily through an
increase in local business rates: a BID
levy. Once a BID has been approved,
the levy is charged to every business
within the BID area (regardless of
whether or how that business voted in
the ballot). This is one reason why it is
so important for local businesses to
stay informed of new and existing BIDs;
so that they can make their voices
heard from the very beginning.
The BID can be set up by the local
authority, a business rate payer or a
person or company whose purpose is
to develop the Business Improvement
District area, or has an interest in the
land in the area. While there are initial
costs to starting a BID, the government
set up a £500,000 loan fund in October
2013, which has helped many
communities that have created BIDs
overcome start-up costs.
Information on setting up new BIDs, the
special loan fund, and how BIDs work
can be found on the UK Government?s
website:
www.gov.uk/guidance/business-i
mprovement-districts
Cheshire Success Stories:
Perhaps the most impressive success
story for Cheshire is The Winsford 1-5
BID. Established in November 2005,
approval of the first non-retail BID in
the UK was granted by a majority of
89% of business voters.
9.