The BID will cost your business 1.5% of the rateable value of your property. See business rates calculator

Different BIDs offer different services to their levy payers. The Sidcup BID will provide your business with a dedicated BID manager who will be responsible for implementing the agreed business plan. BIDs will provide your business with the potential of joint savings and buying power, the capacity to put on events and add footfall to the area, dedicated regional branding and marketing, a greater on-line presence, expert business support and create innovative internal partnerships. The BID manager can represent you and your area on all Local Authority related matters such as licensing, planning and statutory duties.

The BID Manager is responsible for implementing the business plan and responding to the individual and collective needs of the businesses within the BID. They are appointed by the BID champions who are a group of voluntary businesspersons responsible for the delivery of the BID campaign itself.

Yes

No. The BID is decided on a majority. If 51% or more of the businesses within the BID area vote yes then the BID levy applies to all parties within the BID area.

There are over 50 in London and 160 outside London. BIDs are here to stay.

BIDs are better than Local Authority governance as BIDs benefit from a dedicated resource. Local Authorities often do not have the resource or specialist business acumen to deliver the required outputs of a BID. The BID benefits from direct input from the actual levy payers and responded directly to the detailed commercial aspirations of a specific area.

Within a BID there can be a number of expectations that can be placed on the rate paying committee members. They are often identified and agreed in the baseline agreement and the business plan before a BID is officially active. Committee members will be ideally expected to:

• Vote, support the BID and engage with the BID manager when issues arise
• Take part in any scheduled workshops
• Direct any issues they may have with licensing, parking, planning and business rates to the BID Manager
• Ratepayers are invited to AGMs.
• Participate in survey's
• Support events hosted and funded by the BID
• Notify the BID if there is any change in their operational circumstances such as lease expiry
• Promote the BIDs services
• Ratepayers are invited to join the BID committee and/or join the BID Board.

As a voluntary committee/board member the amount of time expected of you may varies; some larger BIDs hold fortnightly meetings while other smaller BIDs hold quarterly meetings. The meeting can vary in time as they can vary in agenda and content. Ideally as a potential BID Committee / Board member it is advisable that you are clear with your fellow board members what degree of time per week, month, or quarter you can give to the BID. Remember BID and its daily operations and management will have a dedicated manager. The role of the committee/board member will be to ensure that everyone is happy with how the BID is being managed, to air any concerns and to satisfy that the business plan is implemented accordingly. The time expected of you can vary from 1 hour every 3 months to 2 hours every week. (Once the BID is up and running).