Camberley - Business Improvement District (BID)

What is a BID?

Business Improvement Districts allow businesses in a defined area and business sector(s) to vote on what additional services they want to invest in to improve their trading environment and to provide local solutions.

Business rate payers are balloted - if a majority, both by number and by rateable value, approve the scheme, all ratepayers will contribute through their business rates.

BIDs give local businesses the power to make changes that will benefit them and their local community. These may include extra safety/security, cleaning and environmental improvements, better marketing and a bigger say on key issues. A BID can cover almost any improvement identified by the business community.

Businesses have the chance to agree on the scheme for which they are voting and how much they will contribute.

BIDs are usually operated by not-for-profit partnership organisations.

The interests of large and small businesses are protected through a system which requires a successful vote to have a simple majority in both votes and rateable value of votes cast.

Once voted for, the levy becomes mandatory on all business rate payers in the BID area.

The BID scheme can only last for a maximum of 5 years after which there has to be a renewal vote.

Local authorities play an important role. They are responsible for various legal matters including: preparing the rates data; the collection and enforcement of the BID levy that is then passed straight to the BID company; the organisation of the BID ballot; and the preparation and commitment to the baseline service agreements which are legally binding on the authority.

Over 80 Business Improvement districts have now been established across the UK. Visit www.ukbids.org/BIDS Opens in a new window to find out more.

For details on the Collectively Camberley Bid visit their website:www.collectivelycamberley.co.uk Opens in a new window