What is a Business Improvement District (BID)?

A Business Improvement District (BID) is a public/private partnership in which business elects to boost the vitality of their businesses by making a collective contribution to maintenance, development and promotion of their commercial district.

It’s in a defined geographical area and initially runs for up to five years to deliver the services that BID members feel will be valuable additions to those provided by the council.

In the UK, BIDS are very much in their infancy but in the USA some have been up and running for more than 20 years. In that time they have revitalised commercial areas in more than 1500 towns and cities including 51 areas of New York City.

There are currently 20 BIDs up and running in the UK, including Bedford, Plymouth and Birmingham. Signs are that business believes that Great Yarmouth should follow as soon as possible.