A BID is a structured programme where businesses in a defined area choose to work collaboratively to promote their business area.
A BID programme delivers benefits through local business investment, promotion and joint initiatives with the council and government agencies. These can be delivered through initiatives such as:
- promotions, events and marketing campaigns
- business support and enterprise
- local economic development activities
- skill and expertise development
- crime prevention initiatives
- networking and shared services
- local improvement projects
- advocacy to local and central government.
Community boards are encouraged to be partners in any BID programme in their area. The community board and the BID operator share an interest in the success of the local area and share goals such as neighbourhood prosperity, community identity and pride.