There are more than 250 BIDs nationally, including Putney, Kingston and Wimbledon

A BID is a business-led, business-funded partnership which undertakes to make improvements in a clearly defined geographical area. There are more than 250 BIDs nationally, including Kingston and Wimbledon.

BIDs may carry out any projects or improvements that are additional to those already provided by the local authority which means that the funding cannot be pulled from services that are already provided in your business rates. BIDs establish baseline agreements with the local authorities and other statutory services providers on the current level of service provision in the area. These ensure that any services the BID provides are truly additional.

BIDs are funded by the businesses that benefit from them, and the money is ring fenced so that it can only be spent within the BID area on initiatives that have been agreed in a formal business plan.

August 7, 2018