A Business Improvement District (BID) allows businesses to improve their commercial potential by funding additional management, projects and services within a clearly defined geographical area of a town, city or commercial district.
Businesses vote to invest collectively in local improvements, in addition to those delivered by statutory authorities. They are often, although not exclusively, a partnership arrangement through which the local business community and the statutory authorities can take forward projects that will benefit the local economy.
A BID is not a substitute for central or local government expenditure. Instead, it provides additional investment to strengthen the local economy. BIDs are developed, managed and paid for by non domestic ratepayers (the private sector) by means of a compulsory levy, which must be approved by the businesses by ballot.
The development of Business Improvement Districts in Scotland and the implementation of the BIDs legislation was pioneered by the pathfinder BIDs - Enterprising Bathgate, ClacksFirst Ltd (business parks), Essential Edinburgh, Falkirk, Glasgow and Inverness, working in partnership with their local authorities.
To date there are 6 operational BIDs in Scotland with a further 8 in development and another 28 areas from across the country expressing an interest in developing a BID. The developing BIDs include town centres, rural centres, tourism and visitor and business sector specific BIDs.
The Scottish Government is currently offering a single payment grant of up to £20,000 to business groups or associations, in partnership with their local authority, to assist with the development of a Business Improvement District.
Further details and contact details for the Project Director for BIDs in Scotland can be found at www.bids-scotland.com