Find out all the reasons you should vote YES for our second term in our upcoming ballot
What are BID’s?
BID’s are an arrangement whereby businesses come together and decide which improvements they feel could be made in the town, and how they will implement these improvements and what it will cost them. BID’s are financed and controlled by the businesses within the selected area. BID’s can run for a maximum of 5 years and during this time they must be able to show that they are benefiting the businesses which fund it. After this 5-year period businesses are balloted on whether they want to continue with a subsequent 5-year period.
Why do businesses support BIDs?
BIDs have the proven ability to increase footfall to an area, reduce premiums and improve the business environment and services. As they can run for up to five years they also give businesses the opportunity to plan ahead. BIDs put the control into the hands of the businesses themselves. BIDs do not substitute services provided through business rates, they provide additional services.