North Notts BID is the UK’s first ever area-wide, place-shaping BID.
The North Notts BID story commenced in November 2015 when the North Notts Place Board explored the possibility of developing the Bassetlaw area as a Business Improvement District. A feasibility study took place early in 2016 with over 77% of those businesses surveyed stating that they would be in favour of a BID, so the main consultation commenced in April 2016.
The BID business plan was developed based on the results of the surveys conducted with our businesses. In April-May 2017 the Electoral Reform Service conducted a 28 day postal ballot. The results were overwhelming with 85.32% by number of businesses and 85.13% by rateable value voting YES to a BID for North Nottinghamshire.
North Notts BID Ltd became operational on 1st September. We are completely business led and business managed. The BID Strategic Board oversee the work of the BID team and ensure that the BID business plan is delivered effectively and efficiently.
The business plan covers three key themes: The Business Voice, The Experience and The Destination. Over its five year BID term the BID team will develop and deliver the projects under these themes.
North Notts BID is made up of c1,000 BID members with over 1,100 hereditaments. BID members each pay a levy based on 1% of their rateable value. This equates to around £700k per year, £3.5m over the BIDs five year term.
Businesses with a rateable value of less than £12k are exempt from paying the levy though we do offer a voluntary membership for any below the threshold that wish to join. We have also capped the levy at £12k for larger businesses and those with multiple hereditaments. Hospices and hospitals will be the only business classifications exempt from the BID.