A BID is a Business Improvement District.
BIDs are part of the Government’s long-term strategy to encourage partnership working between a local authority and the business community. A BID is a defined area within which rate-paying businesses decide on new improvements to help transform their area – and then vote to agree the investment. This money is then ring-fenced to provide the improvements agreed through the BID strategy.
BIDs see improvements to business profitability and turnover which would not have happened otherwise.
Essentially a BID is designed to be for the businesses, controlled by the businesses.
A BID normally lasts for five years but can last for less time. A BID can be renewed for future periods, but needs to go through a renewal process.
A new private limited company, which is limited by guarantee and has its own management Board, is to be responsible for administering the BID. This is a not-for-profit company; Board members are be made up of volunteer individuals who represent the cross section of businesses and organisations across the area. BID Boards normally appoint a project manager and support staff to implement the projects identified in the plan.
These can be employed directly by the BID or via a specialist project management company which will also then offer strategic support.
Businesses from across the Southern and Western Business Areas formed a company to develop the BID. The ‘Bracknell Investment Group Ltd’ represents businesses from all business sectors, sizes and types and it has appointed BID specialists, Partnerships for Better Business Ltd (pfbb UK), to help test the feasibility of a BID and develop a BID in this area.
It was essential that the businesses in the area determine the activities and objectives of the BID Business Plan. A series of business interviews, workshops, surveys and other research were carried out to determine what improvements businesses in Bracknell would like to make.
Using all the input from the businesses across the area, and working with the Bracknell Investment Group, pfbb UK developed a business plan and lead local representatives and the local authority through the legal requirements to create the framework for the BID.
Improvements are made if the majority of ratepayers in a designated area approve them through a vote. This enables businesses to have a direct role in deciding what improvements should be made in their area. After five years, the businesses will vote again on whether they want the BID to continue and what they want to improve over the next five years.
The BID boundary was determined as part of the consultation process. The final decision took into account natural and discernible boundaries and synergies between the different aspects of the area and the potential levy to be raised. The BID Map can be seen on The BID
The BID area includes any smaller businesses located off the roads or streets that are located within the boundary for the BID area defined by the shaded are illustrated on the map or any other road or street even if they are not listed. The BID area will also include any new road or street which is developed or created during the life of the BID which is within the BID area.
Streets in the BID area
|Roads (Listed Alphabetically)||Limits to road/street if any|
|Peacock Lane||Small section, on the Southern side of the road from junction with Lovelace Rd up to the border of ‘Tarman’s Copse’|
|Skimped Hill Lane||North Western side of the road only|
|Turnpike Road||Southern side of the road between a point west of Challis Place to a point level with Tippitts Mead to the north.|
|Wokingham Road||Southern side of the road only, not including area between Milbanke Way and the eastern boundary of the last hereditament on the junction of Wokingham Rd and Western Rd|
Southern side of the road only, not including area between Milbanke Way and the eastern boundary of the last hereditament on the junction of Wokingham Rd and Western Rd
The vision and objectives of the BID was determined the businesses as part of the consultation process. They were outlined in the business plan that businesses had the opportunity to vote upon. The action plans drawn up during the BID’s lifetime will all relate back to these objectives.
Objective 1 – Infrastructure
Provide a great infrastructure and a smart working environment for businesses to operate and people and services to communicate, access and move around, safely and effectively.
Objective 2 – Business Growth and Investment
Support businesses in Bracknell to grow, develop and invest by creating a great working environment to operate effectively and attract and retain the best people.
However it is important to remember that the BID will not replace the existing services provided by the local authority. These will be bench-marked and monitored by the BID Company to ensure that the money generated through the BID is used for the improvements voted for by the businesses in the BID.
You and the other businesses will identify the issues that will be tackled by the BID in the area. You can also be certain that the BID will:
- Deliver a pragmatic and business driven agenda
- Be business led
- Benefit from effective partnership with the public sector
- Deliver sustained investment to improve the area over a five-year period
- Focus on achieving positive and measurable outcomes of benefit to all businesses
The development of the BID was funded by businesses in the area and supported by Bracknell Forest Council.
Following the successful vote, the BID is now funded by the businesses in the BID and aims to be both fair and transparent. All businesses in the area which meet the levy criteria are subject to an additional levy to their rates. This overcomes the problem of a few businesses paying for improvements that benefit many. It is also hoped that the BID will serve as a catalyst for change and bring in more investment to the area.
A levy of 1.5% of rateable value (RV) is proposed for businesses within the BID area with an RV of between £12,001 and £10million. Businesses with an RV of less than £12,001 or over £10million will not have to pay a BID levy and subsequently will not have a vote for these properties.
The total levy payable in any one chargeable period, by any one ratepayer for any single hereditament with a rateable value of £2million or more, will be no more than £30,000 in year 1. The levy for future years for any single hereditament with a rateable value of £2million or more will be based upon the £30,000 payment in year 1 and index linked as per the inflationary increases outlined in the full.
BID Business Plan and Proposal.
The BID levy is a statutorily compulsory payment.
Businesses in the potential BID area were asked to vote on whether they would like it to go ahead. For the BID to proceed, those who vote in favour must represent a majority of the vote by number of votes and aggregate rateable value. The successful vote met these criteria
Contact us to register your details to receive regular e-bulletins and updates about the BID’s progress and activities and get involved in working group. A member of the BID team is happy to talk with you and discuss the ways that you can get involved.
In addition, make sure your business is registered on the Business directory and please keep us informed of your news and events so that we can help promote them