Business improvement districts
A Business Improvement District (BID) is a defined geographical area and within it businesses
opt (via a vote) to pay an additional amount so that services can be provided that they, as a group of businesses, want to have. This money is paid by businesses through a levy which is normally applied using the rateable value of their commercial premises. A BID company has a maximum of five years before they have to return to their electorate in order to ask if they want the BID to continue.
BIDs succeed because they are focused, entrepreneurial, cost efficient and provide a powerful and fast response to business needs. They are not a replacement for local authority and police services, but provide an additional resource. There are now over 320 BIDs in operation across the UK including Newcastle, Swansea, Nottingham, Brighton, Liverpool, Edinburgh and several in London.
With public finances under pressure, BIDs are increasingly seen as the way in which those locations fortunate enough to have one, can surge ahead. If BIDs across the UK are not sustained, current national business trends indicate a gradual, sustained decline of commercial profitability in many town centres like Southend.
introducing southend bid
Southend BID is the BID company for Southend-on-Sea that was formed in 2013 out of a very successful town centre partnership organisation – Southend Town Centre Partnership (STCP). Businesses voted with a firm yes for the Southend BID to act on their behalf. Businesses expressed a strong desire to work together to ensure that the high street and seafront can make the most of their combined potential and remain ahead of the competition and, via a strong collaboration, raise the profile of Southend.
This website gives details about the services that businesses in Southend voted for.
Download the 2018-2023 Business Plan.