Business Improvement Districts (BIDs) are business-led partnerships that agree by ballot to pay an extra levy based on rateable value to fund activities, services and improvements that will benefit the businesses and the place in which they operate. Nationally, there are 300 BIDs in the UK, investing over £130m every year, giving business an independent voice and investing in business-led initiatives.
Canterbury BID was established by ballot in 2014 as an independent, business-led, not-for-profit initiative to ensure investment in the city based on the priorities of the business community. The BID encompasses over 650 business, primarily within the city walls, and the mission is to help make Canterbury a vibrant, exciting, well connected and successful business community.
The management and governance of the BID is open and transparent and is accountable to the levy payers. The projects and activities of the BID are operated by a small team led by a voluntary Board of Directors, representing the business sectors who operate in the city.
All of the money raised by the BID – from the levy paid by businesses, to voluntary contributions, sponsorship and commercial income – is invested directly back into Canterbury. In the first BID term (2014-2019), Canterbury BID raised 20% on top of the levy, totalling £430,000 over the five years, bringing the total amount invested to over £2.9 million. The projects and services funded by the BID are split into 4 key areas:
The ballot for a second BID term will take place from 13 June to 11 July. A second BID term is our opportunity to ensure we continue to build a strong trading future for our city. Through recent consultation we listened to what you think we have done well, what we could improve further and what new initiatives you would like to see introduced to make Canterbury the best it can be. Visit Ballot 2019 to find out more.