BIDs are an arrangement whereby businesses get together, decide what improvements they want to make in their town, how they will manage these and what it will cost them. This all goes into a business plan which is voted on by all those who would have to pay. The BID lasts for a maximum of five years and must be able to demonstrate how it benefits the businesses that have funded it. BIDs deliver additional projects and services over and above those already provided by public bodies. There are over 300 BIDs in the UK with the nearest ones being Loughborough, Hinckley, Melton & Leicester.

Ashby BID will:

• Invest over £1m
• Raise our profile further
• Carry out exciting projects and events to drive loyalty, footfall and spend
• Make sure we are a welcoming, friendly and safe place
• Make it easier for people to come into and move around the town
• Give businesses the support they need to flourish by driving down business costs whilst being a powerful voice

Like any good business plan, specific key performance indicators (KPIs) are set and performance is monitored against the KPIs by the BID board. The BID Company is answerable to the businesses that pay the BID levy and will be required to monitor and inform its members on its progress towards the agreed KPIs.

A BID is a mechanism which allows businesses to raise a sum of money to manage and deliver projects that they have identified and believe will improve their trading environment, ultimately increasing trade for those businesses who are paying for the improvements.

No. BID money can only be used to carry out projects/services ADDITIONAL to those that public services have to provide. Prior to the BID business plan being produced, the current services being delivered by all public agencies including the Local Authority and Police are set out in Baseline Statements. Baseline Statements for the following areas are available for the Ashby BID:

• Cleansing & Maintenance
• Festivals & Events
• Leisure
• Car Parking
• Public Conveniences
• Landscaping & Planting
• Tourism
• CCTV
• Policing

The BID company can agree to provide additional resources to deliver a higher level of service over and above the benchmarked level if this is what businesses have identified they want.

Once projects and services have been agreed by businesses along with how they are going to be delivered and managed, they are costed and set out in a business plan. The cost to each business is worked out on a pro rata basis. This is called the ‘BID LEVY’. An independent and formal vote then takes place on the agreed projects and services and if the majority vote is YES then ALL eligible businesses within the BID area HAVE to pay. The BID levy is normally paid by the occupiers of a property. In addition, BIDs can draw in other voluntary funding, grants and ‘in kind’ contributions to supplement the BID levy.

Normally a ‘BID Task Group’ is set up which is responsible for putting together a business plan setting out the projects it aims to deliver on behalf of the businesses in the BID area. This is based on a detailed consultation process with businesses. The business plan will include the projects, cost, delivery guarantees, performance indicators and the management structure. A confidential postal vote is held with all the businesses that would pay the BID levy getting a vote. To become a BID a majority of those that vote must be in favour by number and rateable value. A successful BID then has a mandate for a maximum of 5 years after which the BID would need to seek a re-ballot.