What is a BID?
Chichester BID is a business led initiative supported by government legislation which gives businesses the power “to raise funds locally to be spent locally” on improving a defined commercial area. A BID is created when the majority of business rate payers within that area vote to invest collectively in local improvements.
There are now over 320 BIDs across the UK and 8 within Sussex. The BID is independent from local authorities and other statutory agencies and delivers projects over and above the baseline services provided by them.
Chichester BID first became operational in April 2012 and has been operating for almost ten years having been successfully renewed for a third term in 2021 with a 70% yes vote from businesses. Over the past five years, Chichester BID has invested levy payer’s money into Chichester to the tune of circa £1,500,000.