A Business Improvement District (BID) scheme is a business-led initiative supported by government legislation. It gives local businesses the power to ‘raise funds locally to be spent locally’ on improving their trading environment.
The BID programme is funded by the businesses themselves through a levy on non-domestic rates. BID schemes usually operate for a period of 5 years.
For the BID to go ahead, two conditions must be met: over 50% of businesses that vote must vote in favour. Those businesses voting ‘yes’ must represent more than 50% of the total rateable value (RV) of all votes cast. If both these conditions are fulfilled, payment of the levy becomes mandatory for ALL eligible businesses, regardless of how they voted.
View result of the votes cast by business ratepayers for the Business Improvement District (BID) in the Basingstoke and Deane Council area.
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