A BID (Business Improvement District) is a business-led, not-for-profit organisation formed to improve a defined commercial area.
Funded by businesses, for the benefit of those businesses, a BID enables a coordinated investment into the area and delivers projects and services which are in addition to those already provided by the Local Authority.
A BID can only be formed following consultation and a ballot in which businesses vote on a BID proposal.
Following a successful ballot, a BID is created for a maximum 5-year term and operates within a legislative framework set out in the Business Plan. During the term, all businesses within the defined area will be required to pay a BID levy, irrespective of whether they cast a vote in the ballot.
BIDs now exist across the world and there are over 300 BIDs in the UK, including four within the BCP Conurbation.
Lobbying and campaigning is a key part of Poole BID’s role, as well as working in partnership with organisations such as BCP Council, Dorset Police and local community organisations and other key stakeholders.
Poole BID is influential in encouraging official bodies such as BCP Council, High Street Heritage Action Zone, Festival Coast Live and community groups to prioritise projects within Poole.
We also provide opportunity for businesses to reduce their costs by working collectively for more preferential rates such as energy provision.
There is no limit on what projects or services can be provided through us. The only requirement is that it should be in addition to services provided by BCP Council.
Poole BID was established in 2016 and successful in 2021 for a further five-year term through a ballot of local businesses.
This initiative is an innovative way to encourage our businesses to work together in order to design, plan, manage and deliver our Business Plan to take Poole forward over the BID term.
Within a defined area a levy of 1.5% is charged on all business rate payers in addition to the business rates. Poole BID activities are funded by this levy which is based on the rateable value of the premises.
Smaller businesses pay less, and larger businesses pay more but each contribute the same percentage. Together a fund is created and the money is invested in the BID area of the town centre and Quay on collectively agreed projects and initiatives to improve the trading environment.
Our business owners in Poole know better than anyone what needs to be done to improve the town. We welcome feedback about what people think the priorities should be during the term of the BID. The business plan aims to reflect those priorities. Businesses were asked to comment on the plan before it went to a vote to ensure that it accurately reflected their thoughts to increase Poole’s vitality for all. This plan has now been adopted and will be delivered by the BID Board on behalf of the town until 2026.
Contact Poole BID Management Team:
Jacqui Rock, BID Lead Jacqui@poolebid.com or Wendy King, Operations Manager firstname.lastname@example.org
Or telephone 01202 308800