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A BID is a democratically elected business-led and business-funded body formed to invest in and improve a trading environment. A BID enables businesses to work collectively to decide on the improvements they want to make in their area. As a democratically elected, independent body, a BID allows businesses to have a greater influence and impact on how their local area is managed and develops. A BID can only deliver projects and services over and above the statutory services already provided by local authorities and public bodies.
What is Shrewsbury BID?
Shrewsbury BID is an independent, not-for-profit company dedicated to delivering projects, programmes and services that improve the trading environment for businesses in Shrewsbury town centre. Shrewsbury BID was elected for its first term in November 2013; 76% of those who voted were in favour, and by rateable value 83% were in favour. The BID was elected by businesses in the town centre, who also chose its priorities through a consultation process, and strategic leadership is provided by a board of local business people. The company became operational in April 2014.
Have BIDs been a success elsewhere?
There are now over 300 BIDs established throughout the UK, with each location having a unique local business plan. Examples of other towns and cities with BIDs includes Chester, Bath, Aberystwyth, Oswestry, Stafford and Leamington Spa.
How can I find out more information?
For further information, please contact Seb Slater, executive director:
Tel: 01743 358625
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