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A BID is a company established and run by the business community to address issues and priorities identified by that community. The overall aim of a BID is to enhance the business environment and deliver real results. Over 200 BIDs operate in the UK, with Worcester BID the only one in Worcestershire.
The BID Company itself is run by a Board of Directors appointed in accordance with the Articles of Association by the Company’s members; the business rate payers who pay the Levy.
In Worcester, businesses came together through the Worcester Business Improvement District BID to take the lead in tackling issues facing the city. The business community recognised that Worcester is a fantastic city but needed more to help boost trade and encourage all businesses to get involved. See the links below for more detailed information on the Worcester BID’s area.
Worcester Business Improvement District (BID) has been in operation since April 2010 and is a non-for-profit organisation with the aim of improving the trading conditions for the businesses who contribute a BID levy.
In November 2014 businesses have been invited to vote to maintain a BID for another 5 year period from April 2015 until March 2020. The results of a 28 day postal ballot for which 643 businesses were asked to vote were announced on 28th November 2014 with 65% by number and 71% by aggregate rateable value supporting a second BID term. There was a 50.2% turnout with 323 businesses voting. This positive vote means that over £2 million worth of investment will take place over the next 5 years on city centre initiatives.