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What is a BID?
Last updated: 02/02/2011 09:41:54
A Business Improvement District (BID) is a precisely defined geographical area of a town, city, or commercial district where ratepayers have voted to invest collectively in local improvements in addition to those delivered by local Government, not replace them. The business community of Worcester went to ballot in October 2009. On 4th November 2009 the result was declared for the Worcester BID ballot with 71% voting yes by number and 79% yes by rateable value. This dual majority ensures that businesses regardless of size all have an equal vote. The ballot was undertaken independently by Electoral Reform Servces (ERS). As a result the Worcester BID began trading in April 2010 and will run for 5 years.
Your Projects for Your Benefit
BIDs have the potential to provide a range of essential services from, for example, street wardens to improved signage; from organising new events to improving the quality and quantity of Christmas lights; from paying for additional parking time by using your mobile phone, to more marketing of the city centre, free membership of CityNet and NightSafe schemes, marketing of WorcesterŒs offer for businesses, and taxi marshals.
The Business Plan is a document in which the projects and delivery of the BID are explained in full detail. All businesses with a rateable value of over 7,500 pounds as at 18th September 2009 were eligible to vote within the BID area and received a ballot paper and a copy of the Business Plan.
