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What is a BID?
BID stands for Business Improvement District. It is a scheme that is a business led initiative supported by government legislation that gives local businesses the power to raise funds locally to be spent on improving their trading environment in exactly the way they choose. It is NOT a tax, the money does not go to the government or councils BUT remains in the BID area under the control of the BID Board, ultimately controlled by you.

BIDs allow businesses in a defined area and business sector(s) to vote on which additional services they want to invest in, to improve their trading environment.

For a BID to go ahead two conditions must have been met – Over 50% of businesses that vote must be in favour and the aggregate of the RV’s of those businesses that vote yes must be greater than that of those who vote No.

Once voted for, the levy becomes mandatory on all defined ratepayers and is treated as a statutory debt.

BIDs give local businesses the power to effect changes that will benefit them in their local community. Improvements may include extra safety/security, cleansing and environmental measures, improved promotion of the area, improved events, and greater advocacy on key issues, but the legislation does not put a limit on what products or services are provided.