ABOUT THE BID
WHAT IS A BID?
A Business Improvement District (BID) is an organisation which delivers a range of projects and activities in consultation with businesses within a defined geographic area. Businesses within that area vote, via a ballot, on whether they want a BID. Assuming that a BID receives a majority vote at ballot, the businesses within the area then pay a levy based on their rateable value, with that money spent on services that they believe will benefit their business and the area. BIDs are not for profit organisations.
A BID company has a maximum term of five years before businesses are balloted again to ask if they would like the BID to continue.
ABOUT NOTTINGHAM BID
Nottingham Business Improvement District (BID) was formed in 2012 following the merger of the city’s retail and leisure BIDs. It was then successfully renewed for a second term in July 2015 when when 89% of businesses that voted did so in favour of the BID continuing by number and 94% voted in favour by rateable value. The overall turnout at ballot was 45%.
Nottingham BID is one of the largest BIDs in the country with over 800 members and an annual income of over £1 million per year. Its members are businesses and organisations in the retail, leisure, office and education sectors within a defined area of Nottingham city centre – the BID Zone.
The BID’s aim is to put Nottingham firmly on the map as a regional and national city of choice for shopping, leisure, work and study, building on what it achieved in its first term. This will be achieved by delivering a range of initiatives which are driven and shaped by BID members.
It’s in Nottingham is the brand used by the BID to promote the city to consumers. This includes delivering campaigns and events throughout the year as well as having a dedicated website and social media accounts.
BOARD OF DIRECTORS
The operation and management of the Nottingham BID is overseen by a Board of Directors, chaired by Jeff Allen. The composition of the Board reflects the BID’s membership with Directors drawn from the retail, leisure, office and education sectors.
There is also a BID Manager and operational team who deliver the BID’s activities on a day to day level and who report to the BID Board.
Click here to find out more about the Board of Directors.
Click here to find out more about the BID Team.
In addition there are Working Groups for each sector represented by the BID, giving members in those sectors the opportunity to have a say in shaping the activities that the BID delivers for their benefit. Members of Nottingham BID are invited to the quarterly Working Group Meetings and if you would like more information on these meetings please email email@example.com
Alongside these Working Groups, is an Independents Advisory Group. This looks after the interests of the large number of independently owned businesses who play such a key role in differentiating the city from other places.
Click here to find out more about the Working Groups and meeting dates.