BUSINESS IMPROVEMENT DISTRICTS
Enhancing the economic prosperity of town, cities, and businesses.
WHAT ARE BUSINESS IMPROVEMENT DISTRICTS?
Business Improvement Districts (BIDs) are geographic areas within which local businesses collaborate to invest in the improvement of their commercial environment. They are typically managed by a non-profit entity, funded by a self-imposed tax or levy on businesses within the district, and are governed by a board of directors composed of local business owners and community leaders.
BIDs aim to enhance the overall economic vitality of an area by improving the physical appearance, safety, marketing, and promotion of the district, as well as providing additional services and amenities. Examples of services provided by BIDs include street cleaning, public safety patrols, marketing and promotional campaigns, and public space improvements.
BIDs have become increasingly popular in urban areas across the country as a way to address the unique challenges faced by local businesses, particularly in the face of competition from online retailers and well-established brands.
By pooling resources and working together, businesses in a BID can create a more attractive and competitive commercial environment that benefits both local businesses and the wider community.
SUPPORTING BUSINESSES TO BECOME RICHER, STRONGER, & GREENER
PSP have been commissioned by over 50 Business Improvement Districts (BIDs). We have collaborated with thousands of businesses and have identified millions of pounds in savings through our place savings programmes which concentrate on advice and guidance on business operating costs.
We deliver outreach programmes nationally with BIDs including towns, cities, coastal resorts, industrial and accommodation BIDs. Our programmes offer support regardless of sector, size location.