Business Improvement District provide additional or improved services guided by businesses' needs.
Many BIDs are located in town centres.BIDs and local authorities are often closely linked. Many BIDs are initiated by local authorities, local authorities provide BID areas with core services, some BIDs are increasingly taking on local authority roles, and currently local authorities collect the levy on behalf of BIDs.
In London there are a number of funding streams available for BIDs that are starting up.
The Department for Business, Innovation and Skills has launched a consultation on BIDs covering four specific proposals for strengthening the role of BIDs –
- Increasing transparency for all BIDs to strengthen accountability and quality
- Mandating certain information to be included in any locally agreed Service Level Agreements between BIDs and local authorities in order to encourage closer working
- Giving BIDs the choice of who collects the levy on their behalf
- Streamlining the approach for BIDs to bring forward neighbourhood plans and neighbourhood development orders in non-parished areas.
In addition to these proposals, the consultation also covers a number of suggested changes to existing legislation to clarify and streamline some existing areas. London Councils will be providing a response to this consultation.