Business Improvement Districts

New BID area

Waterloo Quarter Business Alliance (WBQA) ballotted last week and on Friday February 22 84 percent of businesses voted in favour of the BID.

This will be one of the first cross borough Business Improvement Districts (BIDs) and will focus on four key areas

• Greener, cleaner and safer
• Marketing and promotion
• Development and planning
• Voice for business

What is a Business Improvement District?

Business Improvement Districts (BIDs) allow businesses in a specific area to develop a unique area of improvement plans.

A proposal is created through research and consultation, which businesses vote on. A decision is then made whether to pay a levy to fund the improvements. If agreed the levy is secured to fund the area for extra services and improvements identified in the proposal. Each Business Improvement District (BID) operates for a maximum of five years, after which a new vote is taken.

The aim of BIDs is to

• Add value
• Encourage investment
• Increase footfall to areas

Benefis include

• Physical improvements such as lighting, graffiti removal, greening and cleaning projects
• Extra security measures for streets and businesses such as warden schemes
• Improving open spaces for employees and visitors
• Marketing promotions through increased local networking and business to business opportunities
• Public events and expansion of tourism
• Improving staff retention and recruitment
• Increasing access through improved transport and parking arrangements

These services and improvements are offered in addition to services the local authority provides.

Business Improvement Districts (BIDs) in Southwark

Better Bankside covers the area from

• Blackfriars Road to Borough High Street
• North to the Riverside Walk
• South to Southwark Street

London Bridge BID covers the area from

• Borough High Street to Tower Bridge Road
• North to the river
• South to St Thomas Street
• Snowsfields including Tooley Street

Other BID resources

• UK BIDs has information on good practice and links to ballot results and legislation on regulations
• London BIDs develops BIDs and lessons on the experiences of five Circle Initiative BID pilots
• ATCM offers general information on BIDs and local area management

Local Government Act

The local authority has a statutory responsibility in accordance to the Local Government Act 2003 to support the development of BIDs and facilitate their establishment. This is managed centrally by an appointed BID coordinator based in the strategic partnerships team. 

Contact us

Aelswith Frayne
Partnerships team manager
Tel: 020 7525 5339
aelswith.frayne@southwark.gov.uk
Chiltern House
Portland Street
London
SE17 2ES