What is a BID & BID levy?

• BID Billing Leaflet 2023/24
• What is a BID & BID levy?
• Meet the team
• BID advisory board
• BID business plan
• Impact and performance reports

WHAT IS A BID?
A Business Improvement District (BID) is a defined geographical area where business rate payers agree to pay a levy into a fund for a fixed five-year period. A BID enables businesses to join together to fund projects that address specific common problems. Agreed initiatives are then delivered to improve the area for businesses.
BIDs do not affect the level or quality of service provided by the local authority to the area, but instead provide the additional or improved services identified and requested by BID businesses.

Following a successful ballot in September 2023 (119 votes were cast, 94 in favour, which equates to 79% by number and 82% by rateable value; the turnout was 44%), Broadmead BID began its fifth term on 1 November 2023. This BID will continue until October 2028, delivering the initiatives outlined in the Broadmead BID Business Plan 2023-2028.

BID LEVY
If the ballot is in favour, then every business has to pay the levy. All businesses that benefit from the improved services of the BID contribute to the cost.

BIDS IN THE UK
The Broadmead BID is one of four BIDs in Bristol and more than 330 in the United Kingdom. Nationally, BIDs generate more than £150m, which is invested in delivering local initiatives and improvements over and above those mandated by local authorities.