A BID provides sustainable funding for an agreed period of time, allowing the private sector to work with partners within a flexible mechanism to deliver a wide variety of projects and services which will improve their business environment.

A BID:

• Is a clear and transparent mechanism

• Allows self management and self funding with no red tape or bureaucracy

• Gives competitive advantage

• Develops partnerships between the public and private sectors

• Ensures collective effort and drive towards achieving a shared vision

• Is flexible to address the issues of individual sectors

• Is fair to small businesses

• Can harness private sector management drive and skills

• Gives businesses a strong local voice

A BID can deliver major benefits to businesses through:

•  Increased footfall

• Increased consumer spend and sales

• Reduced costs

• Reduced crime

• Enhanced maintenance and care

• More effective joint activity e.g. collective procurement and marketing

• Improvements to physical surroundings

• Helping attract and retain staff

• Attracting new investment

• Improved competitiveness against other locations