Whilst at the time of ballot there were 260 Business Improvement Districts (BIDs) operational in the UK, which are generally towns or city centres, business parks or industrial estates. North Notts BID is the UK’s first ever area-wide, place-shaping BID.
The North Notts BID story started in November 2015 when the North Notts Place Board made the decision to explore the possibility of developing the Bassetlaw area as a Business Improvement District. A feasibility study took place early in 2016 and over 77% of those businesses surveyed said that they would be in favour of a BID, so the main consultation commenced in April 2016. The BID business plan was written up, based on the results of the surveys conducted with our businesses and in April-May 2017. The Electoral Reform Service independently conducted a 28 day postal ballot when businesses were invited to cast their votes. 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 commenced trading on 1st September. We are completely business led and business managed with a board of 15 who oversee the work of the BID team and ensure that the BID business plan is delivered. The business plan covers three key themes: The Business Voice, The Experience and The Destination. Over the five year BID term the BID team will ensure to develop and deliver the projects under the themes.
North Notts BID is made up of 958 local businesses (over 1100 hereditaments) that each pay a levy based on 1% of their rateable value. This equates to around £640k per year – £3.2m over the BIDs five year term – to help to build a better future for North Nottinghamshire.
Businesses with a rateable value of £12k or less will be exempt from paying the levy, however they can contribute by joining as a voluntary BID member. We have capped the levy at £12k for the larger companies and those with multiple businesses within the area. Hospices and hospitals will be the only business classifications exempt from the BID.
If you would like to know more about the UK’s first ever area-wide BID, for information about joining us as a voluntary member or for any other enquiries please do feel free to contact us:
Call our team