Q: What is a BID?
A: A Business Improvement District (BID) is a business-led partnership which allows local businesses the power to decide what improvements they want to make in their City centre. Helping accelerate regeneration by providing services, projects and solutions that fall outside the public sector remit.
BIDs are funded through a levy between 1% and 2% of business rates. In Chichester, each business pays a levy of 1.25% of the rateable value of the premises they occupy.
Q: What does a BID do?
A: A BID delivers the projects set out in its Business Plan over the term of the BID, for the benefit of the BID levy payers. In Chichester, the projects will cover the following areas of activity:
Q: Who is part of it?
A: Chichester BID’s geographical area lies primarily within the limits of Chichester’s historic city walls. This includes Northgate, Southgate, St Pancras and The Hornet. However, not all businesses within the BID area are eligible to pay the BID levy. Businesses residing in premises with a rateable value of less than £5000 are fully exempt from paying the mandatory BID levy, although many support the BID in other ways.
Q: I didn’t vote – do I still have to pay?
A: Yes. The reason BIDs are so popular around the country is that the process is democratic and everyone in the BID area who would have to pay the levy has an opportunity to vote in the ballot. Each levy payer makes their own choice whether to vote or not.
Q: I voted No – why do I still have to pay?
A: As with a general or local election, everyone in the proposed BID area has the chance to vote in the ballot and, after the election, everyone is bound by the way the majority voted. Because the majority voted Yes, everyone pays and the BID will work to make Chichester better for all BID businesses, not just the ones who voted yes.