What's a BID?
Bracknell BID is the Business Improvement District (BID) for Bracknell's Western and Southern Business Areas (BID area). BIDs are established by local businesses to improve an area as place to work, visit, and do business. They provide services additional to those provided by the Council and other statutory providers.
BIDs are democratically elected by businesses within a BID area. BIDs must hold a ballot every 5 years where businesses vote. Each 5-year plan focusses on the projects, initiatives, and services that matter most to the business community.
BIDs are non-profit organisations governed by their member businesses. Funding is collected via a BID levy and reinvested back into the BID area.
Businesses within the BID area with a rateable value of over £12,001 pay an annual levy of 1.5%. There is an index linked annual inflationary increase of levy charges year on year for the duration of the BID. Businesses with a rateable value of less than £12,001 and charities are exempt from the BID levy.
Levy income is reinvested into key areas for the improvement of the Western and Southern Business Areas, focussing on the objectives of Infrastructure, and Business Growth and Investment and laid out in the BID's Proposal and Business Plan.
To learn more, see Frequently Asked Questions.
The BID Levy
The BID Levy is a mandatory charge for businesses that occupy premises inside the BID boundary. The following are exempt from the BID levy, nor can they vote in the BID ballot. However, they will still benefit from operating within the BID area.
1. Businesses with a rateable value of less than £12,001, or more than £10 million.
2. Charities or Community Amateur Sports Clubs.
3. Places of religious worship.
To learn more the BID levy criteria and those who are are exempt or non-exempt see the BID's Business Plan and Proposal.
How is the BID levy calculated?
The BID Levy is charged at 1.5% of the rateable value of each hereditament, listed in the Valuation Office Agency’s 2017 Non-Domestic Rating List. This percentage is index linked, so it is subject to annual inflationary increases year on year for the duration of the BID. For example, if your premises' rateable value is £25,000, your annual BID levy will be £375.
How is the BID levy collected?
Bracknell Forest Council collects the BID levy on behalf of Bracknell BID. It is payable in one instalment per year, with bills raised in March and payment due on 1st April.
The BID Levy is a mandatory charge and collection is enforceable in the same way as business rates.
How can your business get the best value from the BID?
The BID levies collected are used to directly benefit businesses who are based within the BID area through projects and initiatives. The BID also offers opportunities to grow your business and improve your commercial relationships, as well as representing the business community as one collective voice to ensure Government, the Council and other statutory bodies understand the needs of business.
Summary of benefits
- Singular voice representing the views of the business community
- Improved navigation and enhanced connectivity
- Enhanced roads, verges, cycleways and green spaces
- Regular volunteer Tidy Days, and professional cleansing services
- Improved lighting in vulnerable areas
- Creative enhancements
- Improved amenities for staff and visitors including parks and green spaces
- Free weekly fitness bootcamp sessions, spinning classes and yoga
- Free skills training for businesses, including Fire Marshal Training
- Free shuttle bus service to the train station
- Free shared cycle scheme
- EV Charge Point grant scheme for businesses
- Safety and security initiatives including CCTV and ANPR coverage
- Recruitment support including Jobs Fairs
- Meet Your Neighbour networking events
- Free business promotion
- Inward investment events
- Loyalty card and exclusive discounts to those working in the BID area
To contact Bracknell BID or sign up to our newsletter please visit our contact us page and use the links or contact form.