What is…

A business improvement district is a defined area where the local business community come together to develop projects and services that will benefit the trading environment within the boundary of a clearly defined commercial area (see www.ukbids.org for more information).

Extra income is levied in the form of a percentage on the rateable value of a property which is reinvested in activities, resources and improvements to the area. This form of funding is a fair and transparent levy on all eligible businesses occupiers within the BID area. Following a yes vote (a majority by numbers and rateable value), a Business Improvement District not-for-profit limited company is set up as a dedicated resource to manage the area for 5 a maximum of years, before it goes to renewal ballot. With this mandate, the generated income is used for services above the usual statutory provisions and baseline agreements are drawn up with partners to ensure activities are additional to, not a replacement of, local (Council) services. It is the businesses in Southside that will decide what extra services they want to see.

Business Improvement Districts mean there is no freeloading by any businesses within the area. Only those with a rateable value of less than £10,000 are exempt from the levy.

Across the UK there are over 90 BIDs operating and within Birmingham there are already 3 successful BIDs in action; Broad Street, Retail Birmingham and the recent addition of Colmore BID. The BIDs are supported by Birmingham City Centre Partnership who aim ‘to create a world class city centre for Birmingham’.