A Business Improvement District (BID) is a business-led and business-funded not-for-profit organisation formed to deliver improvements through additional services, initiatives and events in a defined commercial area.
The first BID commenced in January 2005. Now there are over 300 across the UK. BIDs operate for a maximum of five years within the legislative framework. If they wish to continue they must go through a renewal ballot process to secure another BID term of up to five years.
The Stoke-on-Trent City Centre BID has been in effect since 2018 following a consultation and successful ballot in which City Centre businesses voted for a BID proposal.
Operating on a 5-year term, the BID represents 436 businesses and organisations – independents and multi-nationals - in an area spanning 75 streets. The businesses pay an annual levy to create a combined pot of funding, ring-fenced for use in the BID area, to guarantee core service delivery and deliver an ambitious business plan to transform Stoke-On-Trent City Centre – improving experiences, standards and adding value for investors, visitors, workers and residents alike.
A Business Improvement District (BID) is a business-led and business-funded not-for-profit organisation formed to deliver improvements through additional services, initiatives and events in a defined commercial area.
The first BID commenced in January 2005. Now there are over 300 across the UK. BIDs operate for a maximum of five years within the legislative framework. If they wish to continue they must go through a renewal ballot process to secure another BID term of up to five years.
The Stoke-on-Trent City Centre BID has been in effect since 2018 following a consultation and successful ballot in which City Centre businesses voted for a BID proposal.
Operating on a 5-year term, the BID represents 436 businesses and organisations – independents and multi-nationals - in an area spanning 75 streets. The businesses pay an annual levy to create a combined pot of funding, ring-fenced for use in the BID area, to guarantee core service delivery and deliver an ambitious business plan to transform Stoke-On-Trent City Centre – improving experiences, standards and adding value for investors, visitors, workers and residents alike.
