What is a BID? ⇣
A Business Improvement District involves businesses working together and investing collectively in local improvements, in addition to those delivered by the statutory authorities. These improvements will benefit the businesses involved whilst contributing to the wider aspirations of the local residential community and contribute to growing the local economy. A BID, which is funded by the non-domestic sector, allows for partnership working with statutory authorities to deliver a wider variety of projects and services to improve the local economy. It also gives local businesses a unified voice and provides an arena for businesses and local authorities to increase their understanding of each other’s priorities. A BID gives businesses a voice in the future direction and development of their own business environment. A BID can cover almost any project or service that local businesses agree would be of benefit, as long as these are above and beyond services provided by the statutory authorities.
How does a BID work? ⇣
The local business community identifies a requirement for a capital project or services that will have a positive impact on the trading environment. It defines the geographic area of the BID and develops a business plan that details the project/services to be delivered. The plan identifies how much money is required to be raised to deliver the business plan, how it will be allocated, how the project will be delivered, managed, and the monitoring procedures. The Local Authority is responsible for organising the vote on the proposed plan.
How is it funded? ⇣
All eligible businesses pay a levy that equates to 1.25% of the property’s non domestic rateable value. Go Forth Stirling seeks to attract matched funding or contributions in kind to support individual projects and services.
I voted No. Will I still have to pay? ⇣
The BID Business Plan is put to a democratic secret postal ballot of the eligible persons (property owners and or occupiers) and if the majority vote in favour, all eligible persons liable to pay the non-domestic rate are liable for the levy.
What legislation underpins BIDs in Scotland?⇣
BIDs in Scotland are underpinned by:
- The Planning etc. (Scotland) Act 2006
- The Planning etc. (Scotland) Act 2006 (Business Improvement Districts Levy) Order 2007
- The Business Improvement Districts (Scotland) Regulations 2007
- The Business Improvement Districts (Ballot Arrangements) (Scotland) Regulations 2007
- The Business Improvement Districts (Scotland) Amendment Regulations 2007 No 510
- The Business Improvement Districts (Scotland) Amendment Regulations 2008 No 359
The legislation in relation to the development of a BID is very flexible and allows BIDs in a number of diverse ways to help bring about strong local partnerships and positive change contributing to sustainable economic growth.
How will I get the most out of the BID? ⇣
Get involved. By being involved and working with others to help deliver change and improvement to your local area. A BID provides a structure and finance to be able to get things done which are going to benefit the businesses and their employees. The most progressive BIDs in Scotland have a committed Board of Directors working within a strong local partnership with their local authority and other bodies to deliver improvement, working together to find solutions, with each understanding the priorities and concerns of the other.
How can I contact you? ⇣
You can ring us on 01786 235 030 or email firstname.lastname@example.org
My business has a low ratable value, I didn't have a vote in the election and I'm not required to pay a levy - can I still benefit from the bid? ⇣
Yes, you can take advantage of BID projects; eg shop front improvement scheme and will, obviously, benefit from any marketing of Stirling City centre undertaken by Go Forth Stirling.