There are over 330 BIDS in the UK, and more than 80% are in their second and third term. But what exactly is a BID?
WHAT IS A BID?
A Business Improvement District is a geographical area where businesses contribute towards funding projects within the district’s boundaries.
The proposed levy will be 1.5% of business rates, although small businesses may be exempt.
We anticipate an income revenue of £250,000 from the levy, often the primary funding method. However, the BID can also draw on other public and private funding.
The Prospectus introduces the BID in detail, including the benefits and the cost.
The Net Zero Carbon Proposal that will assist businesses to be Environmentally aware in the BID District covering: Hailsham, Herstmonceux, Pevensey, Polegate, Berwick, Laughton, Chidingly and Hellingly whilst benefiting from opportunities, support and potential grants was enthusiastically supported.
The BID will benefit ALL businesses
Yes, the BID will benefit ALL businesses!
But, notably, the community within the BID district will also see the benefits resulting from the BID. Hailsham and District BID will enable businesses in the BID area to become Zero-Carbon, environmentally aware, and compliant. In addition, the BID will help companies to become more efficient and profitable.
The BID will create an inspiring area to live, work and play, where businesses prosper, new companies choose to locate, and our communities thrive.
“I do not doubt that businesses and the community in Hailsham and District adopting the principles contained within the BID prospectus will position themselves to take full benefit from the opportunities presented in the Prospectus and a future where Zero Carbon is the norm.”
