B28: Business Improvement Districts
Business Improvement Districts (BID’s) are a partnership between local authorities and local businesses to provide additional services or improvements to a specified area.
The first English BID has started this month following a pilot process that began in January of 2003. They are designed to improve the economy of a local area. They are in essence a voluntary tax that local businesses pay to fund improvements to their locality. The money raised is typically spent on combating crime, providing a clean, attractive environment and promoting the local economy. BID’s are primarily though not exclusively found in retail areas where businesses have a clear interest in improving the appearance and safety of an area.