What is a Business Improvement District (BID)?
BIDs are business-owned, led and run organisations specially formed to improve trading conditions in a commercial centre. There are over 300 BIDs in the UK with nearby BIDs including Bath, Bristol, Sailsbury and Oxford. BIDs are established by a private and confidential ballot in which businesses vote on a programme of improvements for their town. If the vote is in favour, all businesses will contribute through a levy based upon the current rateable value of their property. The BID company then invests in improvements, over and above the services already provided by the County Council. Formerly, a BID existed within Swindon which traded from 2007 to 2023. It obtained an 80% yes vote in 2022 but was closed in 2023 due to trading environment uncertainties. However, there is appetite from the Council and local stakeholders to see whether a new and reinvigorated BID would be feasible.
What can the BID do for me and the town?
BIDs exist to benefit a town and the businesses in it. The BID programme in Swindon would be decided by businesses setting their own priorities, but BID programmes elsewhere typically include the following elements:
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Marketing the town as a destination
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Improving safety and reducing crime
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Promoting the town’s unique businesses and assets
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Holding events throughout the year to attract new customers into town
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Developing digital tools and online services
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Doing business together
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Working in partnership to address problems affecting trade
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Encouraging locals to make use of the town centre with local offer cards
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Creating an excellent environment for visiting, working and running a business in the centre
Who are The means?
A BID feasibility study has been commissioned by Swindon Borough Council, and is being led by Alex Butt & Meghna Bhattacharya from The means, a regeneration consultancy specialising in local economic development and the establishment and management of BIDs.
Possible timeline
Spring / Summer 2025
Autumn / Winter 2025
Spring
2026
Engagement begins with businesses to identify their priorities for the BID programme. A steering group is formed to provide direction and oversight.
A formal BID proposal is developed and launched.
The BID ballot takes place, with results announced shortly after. If successful, the BID will go live soon thereafter.
Workshop event
Join us for a workshop event with a cabinet member from Swindon Borough Council:
24th April from 6pm to 8pm
The Hub, 36 The Parade, Swindon, SN1 1BA
This event will explore the results of the recent business engagement, discuss key areas where the BID could drive improvements in the town centre, and outline the next steps in the process. Don't miss this opportunity to have your say and help shape the future of Swindon's town centre.
For more information, please contact us at:
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Part of the Vision for the Heart of Swindon