What is a Business Improvement District? (BID)
A Business Improvement District (BID) is a defined area where local businesses collaborate to fund and deliver services, projects and initiatives that enhance the environment. Funded primarily through a business levy, BIDs aim to improve the area’s attractiveness, safety and economic vitality, complementing services provided by the local authority.
London Heritage Quarter BIDs
London Heritage Quarter is the collective of Victoria, Victoria Westminster, Whitehall and The Northbank (BIDs). These BIDs are private, not-for-profit organisations, funded by annual levy contributions from businesses. A formal ballot process takes place every five years for each BID, and a board of voluntary representatives from the business community ensure that local priorities and objectives remain central to each BID’s work.
Impact of BIDs in London
BIDs play an increasingly important role in the functioning and sustainability of London. These public-private partnerships have become a respected tool and facilitator within communities to carry out additional services to the local council and other vital public services. BIDs have also become champions for retention of business rates within central London, collaboration in tackling the issue of air pollution and better integration of public and private spaces. Find out more about our impact.
