What is a Business Improvement District (BID)?

In essence, a BID is a business-led, business-funded organisation, formed to improve a defined, commercial area (such as a town centre). Improvements can be through additional services, such as events and marketing projects, or supporting the existing infrastructure, for example via business support or welcome flags and guides.

Government legislation enables the formation of a BID, empowering businesses to ‘raise funds locally to be spent locally’ to improve their trading environment.

It’s an investment scheme, giving businesses the opportunity to say how their money should be spent to benefit themselves, their employees, their customers and everyone who lives, works or visits the town.

More key questions about what a BID is are answered below.