Leading the BID industry
POSTED ON: 01/05/2020
Friday 1st May
British BIDs has been raising the serious financial pressures facing many English BIDs due to COVID-19 since the very start of this crisis and, today, we are pleased to announce that Government has responded positively with a support package for BIDs.
As part of a huge programme of support for business, Government has already provided retail, leisure and hospitality companies with a one-year exemption from business rates charges as well as an additional package of financial support measures. But more was needed to support the BID industry and to protect the vital role that it will play in the forthcoming recovery phase, once the crisis has started to retreat and businesses are entitled to cautiously re-open.
Initially, we asked for BIDs whose term was due to expire in this calendar year to be allowed longer to prepare for their renewal ballot. Government responded by extending all such BID terms to 31st March 2021.
More recently, we have asked government to provide financial assistance to BIDs who, with the retail, leisure and hospitality sectors particularly affected, are facing significant reductions in levy receipts. A series of Q&A sessions, together with an on-line survey, revealed that, without the creation of a Resilience Fund, many BIDs were facing an uncertain future at a time when they would be needed more than ever to assist post-coronavirus recovery.
Today, we can announce that the High Streets Minister, Simon Clarke MP, has confirmed that Government has created a new £6.1 million BID Resilience Fund. The money will be paid to local authorities and then dispersed to BIDs.
On making the announcement, Simon Clarke said: “BIDs are uniquely placed and have a proven track record of success in supporting local businesses, empowering communities, championing our town centres and driving forward the renewal of our high streets. It’s only right that, during these unprecedented times, we give them all the necessary support they need to continue operating, so that they can carry on their vital work now and crucially when we move into the next phase of the current crisis.”
Chris Turner, Chief Executive of British BIDs, commented: “Government has listened to the requests that we have made on behalf of the BID industry and has responded quickly. I am exceptionally grateful to the numerous BIDs that have actively supported and engaged with this process, particularly those who joined in our initial Q&A sessions and completed the on-line survey which, together, provided us with the evidence base that we needed. My thanks also go to those levy paying businesses that have backed their BIDs in the request for assistance and to the ATCM and the BID Foundation who have worked in partnership with us on this. I am pleased that the outcome is this announcement of vital support for our industry.”
British BIDs will be running a series of sessions to explain how the Resilience Fund will operate and what it means for your BID, see details below. To join, contact Drew Turner at drew.turner@britishbids.info or call 0845 112 0118.
Q&A - Resilience Fund Guidance
Monday 4th May, 3pm (fully booked)
Monday 4th May, 4pm
Tuesday 5th May, 10am (fully booked)
Tuesday 5th May, 11am
Wednesday 6th May, 2pm
Wednesday 6th May 3pm (fully booked)
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