Leading the BID industry
POSTED ON: 27/03/2020
British BIDs, ATCM and The BID Foundation are responding to a government request for information and have joined together to undertake a brief survey on how the 260 English BIDs are able to respond to the current COVID-19 crisis.
We know that our levy payers in the retail, leisure and hospitality industries are having their business rates waived by government and we are concerned that they may therefore not pay their BID levies.
We know that most BIDs have insufficient reserves to weather this storm and we are asking government to help us out. We know that we are crucial to the safety and security of our towns and cities, and that we will be vital for the revival; but we must survive to do so. The Government is sympathetic to the argument but wants more data to support the case.
We have four simple questions, and you can use this link to tell us the four answers.
1. With no additional income, for how many weeks would your reserves (if any) cover your operational overheads?
2. What proportion of your total levy comes from the retail, leisure and hospitality sector?
3. What percentage of this year’s levy are you expecting to be paid?
4. Do your current financial circumstances threaten the future of your BID?
Please click here to complete the survey online.
We do hope you are able to help us.
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