What is a BID?

 

A Business Improvement District (BID) is an area within which local businesses agree, through a local ballot, to pay an additional charge on their business rates. We estimate that something like 60% of businesses in King’s Lynn town centre would pay less than £1.00 per day as their contribution. These funds are managed by an independent business-led company.

This company seeks to guarantee, improve and enhance services and environmental conditions of this defined geographic area of commercial activity.