Section 3: Understanding the BID
What is a Business Improvement District (BID)?
A BID is a business-led and funded initiative where businesses in a defined area collectively invest in improvements. If approved through a democratic vote (ballot), all eligible businesses pay a small levy (typically 1–2% of their rateable value), which funds services and projects chosen by local businesses.
BIDs operate alongside, not instead of, council services, and can fund improvements like events, safety, marketing, cleaning, and business support.
Over 330 BIDs exist across the UK, including Bermondsey, Better Bankside, London Bridge, Brixton and more, delivering real improvements for their areas.