BENEFITS OF A BID
A BID offers you a unique opportunity to make a difference to your trading environment. BIDs provide many benefits for local businesses and for other parts of the community as shown below:
Businesses / Property Owners
- Increases footfall
- Increases consumer spend and sales
- Reduces costs (crime reduction, joint activities, e.g. promotion and marketing)
- Is flexible to address the issues of individual sectors
- Gives businesses a local voice
- Creates a more appealing environment for employees
- Gives equal involvement and benefits to all businesses
- Fair system; those that invest benefit – no freeloading
- Can decide and vote for action before making the investment
- Can control the process and monitor results
The Landlord
- Assists capital value growth
- Increases an area’s desirability and attracts occupiers
- Good PR for company locally and regionally
- Forges positive links with the local council
The Community
- Promotes economic well-being and growth
- Attracts inward investment
- Helps our competitiveness within the region
- Develops partnership between the private and public sectors
- Provides sustainable investment for ongoing projects and services
- Creates a positive sense of place and enhanced feeling of safety and wellbeing
Local Authorities
- Harnesses private sector management / organisational drive and skills
- Promotes greater understanding of the role of local authorities
- Provides an effective means of liaising with the business community