A BID is a formal arrangement where the business is an area come together to fund, manage and implement an agreed programme of actions designed to improve the trading environment of the area to the benefit of all the businesses within in it. The actions are set out in a detailed business plan that is voted by on by all the eligible businesses in the BID area and addition to those services already provided by the Councils. There now over 250 BIDs in operation across the country supporting our towns and cities.
All the businesses that pay the BID levy have a vote on the BID renewal proposal. If the majority vote in favour of the Love Loughborough Again Renewal BID, all businesses within the BID area will pay an annual levy, which will be used to deliver the business plan.