Businesses in Abingdon have voted in favour of the town centre becoming a Business Improvement District.
What is a BID?
Business Improvement Districts (BID) are business led partnerships which are created through a ballot process to deliver additional services to local businesses.
They can be a powerful tool for directly involving local businesses in local activities and allow the business community and local authorities to work together to improve the local trading environment.
How do BIDs work?
Businesses get together, decide what improvements they want to make in their town centre, how they will manage these and what it will cost them. This all goes into a business plan which is voted on by business rate payers within the area.
To pass the vote the BID proposal must receive 50% or more votes in favour and the positive vote must represent more than 50% of the rateable value of the votes cast.
A BID lasts for a maximum of 5 years. A BID wishing to continue beyond 5 years must make a further proposal and put it to another vote.
If you require further information on the Abingdon BID please visit the Abingdon BID website.
Last reviewed: 17 - 03 - 2016