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Business Improvement Districts (BIDs)
Find out about the Business Improvements Districts in Southwark.
Contents
BID levy and funding
A BID is funded through a BID levy, which is a small percentage of a business’s rateable value. There is a BID ballot of eligible businesses to decide if an area has a BID.
BID levy
The BID levy is collected on top of your existing business rates bill and will be shown in your bill. BIDs can exempt some businesses from paying the levy. Many BIDs exempt the smallest businesses and some exempt certain business sectors.
If your business is exempt from the BID, you can’t vote in the BID ballot
If a BID ballot is successful all eligible businesses have to pay the BID levy.
BID funding
The BID levy funds the various programmes, projects and schemes operated by the BID.