who we are
Formed in 2013, Southend BID is the
Business Improvement District (BID)
Company for Southend
A BID is a defined geographical area and within it, businesses opt (via a vote) to pay an additional amount to provide services in that area that they, as a group of businesses want to have. A BID company has a maximum of five years before it has to ask businesses if they want the BID to continue.
Southend BID 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 town centre 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.
£2.7 million
5 year plan
OF LOCAL INVESTMENT
FOR THE FUTURE
about bids
There are now over 300 BIDs in operation across the UK created including Newcastle, Swansea, Nottingham, Brighton, Liverpool, Edinburgh and several in London. Locally, Guildford, Streatham and Ilford have benefited from BIDs. BIDs succeed because they are focused, entrepreneurial and cost efficient providing a powerful, and fast response to business needs. They are not a replacement for local authority and police services, but provide an additional resource.
They are funded by businesses through a small levy, normally applied to the rateable value of commercial premises.BIDs are created by a ballot amongst participating businesses, and have a maximum term of five years before they have to return to their electorate in order to be renewed.
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.