What is a BID?
Business Improvement Districts allow businesses in a defined area and business sector(s) to vote on what additional services they want to invest in to improve their trading environment and to provide local solutions.
Business rate payers are balloted - if a majority, both by number and by rateable value, approve the scheme, all ratepayers will contribute through their business rates.
BIDs give local businesses the power to make changes that will benefit them and their local community. These may include extra safety/security, cleaning and environmental improvements, better marketing and a bigger say on key issues. A BID can cover almost any improvement identified by the business community.
Businesses have the chance to agree on the scheme for which they are voting and how much they will contribute.
BIDs are usually operated by not-for-profit partnership organisations.
The interests of large and small businesses are protected through a system which requires a successful vote to have a simple majority in both votes and rateable value of votes cast.
Once voted for, the levy becomes mandatory on all business rate payers in the BID area.
The BID scheme can only last for a maximum of 5 years after which there has to be a renewal vote.
Local authorities play an important role. They are responsible for various legal matters including: preparing the rates data; the collection and enforcement of the BID levy that is then passed straight to the BID company; the organisation of the BID ballot; and the preparation and commitment to the baseline service agreements which are legally binding on the authority.
Over 70 Business Improvement Districts have now been established across the UK. The South West already has BID companies in Bristol, Dorchester, Plymouth, Taunton and Truro. Many other towns are now going through the BID process
Torquay town centre is now in its second year and Paignton town had a positive vote to bring in their own BID from April 2011.
Such is the success of the existing BIDs work is also undergoing for a Babbacombe and St Marychurch BID.
The BID schemes are managed by Torbay Town Centres Company Ltd and the council works alongside them providing administrative support. The contact details for Torbay Town Centres Co Ltd are Unit B, The Market Forum, Market Street, Torquay, TQ1 3AE, and their telephone number is 01803 212270. You can find more information on the existing and planned BIDs for Torbay from the Torbay Town Centres Company
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.How is it paid for?
If the BID vote is positive, all businesses within the designated BID area, retail and others, pay a levy based on their rateable value. The rate of the levy is determined during the BID consultation period.and has been agreed at 1.5% Once established, the BID company may provide services to the local authority and generate income through events.
Why pay more? I already pay my business rates
The BID will not in any way affect the quality or level of service you receive through your business rates. BIDs allow businesses to choose to have a level of service which goes beyond the baseline services offered by the council, and they also allow the businesses to choose how they want to see their money invested in that area.
What if I want a BID but the other businesses in my area don’t?
It is necessary that over 50% of businesses in a specific area support a BID in order for it to be implemented. If you feel strongly that a BID could benefit your area, perhaps you could become a Champion for the BID and seek to convince other businesses to vote in favour.
How do I go about expressing my support or reservations for BIDs?
When your business is subject to a proposed BID there will be a series of open meetings held to encourage local businesses to ask questions and to engage with the process. This is to ensure they have the knowledge to make an informed choice when they are asked to participate in the ballot. Alternatively you can obtain further information or copies of business plans directly from Torbay Town Centres Company Ltd at Unit B, The Market Forum, Market Street, Torquay, TQ1 3AE. Their telephone number is 01803 212270 or alternatively you can visit their website from the link below.
Ways to pay your BID levy
There are several ways to pay your BID levy - these are similar to payment of Business Rates.
Direct Debit
By far the most cost effective and efficient way for the Council to collect your money. It's also the easiest way for you to pay as payments will be made on time, there is no need to complete new mandate if you change address and there is no need to cancel your direct debit at the end of the year. A Direct Debit Mandate is included on the reverse of your invoice.
Debit card
You can pay using your debit card in the following ways:
- In person at our cash offices, or by telephone during office hours
- By calling our 24 hour automated telephone payment line on 01803 207495
- Pay Online
(Please note that you cannot pay the levy with a credit card)
Cash and Cheque Payments
- Cash payments can only be made at the Post Office by taking your bill with you.
- Cheques are also accepted at the Post Office, and should be made payable to Post Office Ltd. Please allow five working days for your payment to reach the Council.
- Cheques can also be posted in the boxes at any of our 3 Connections Offices, or posted with your account details to Torbay Council, Town Hall, Castle Circus, Torquay, TQ1 3DR. Please enclose an SAE if you require a receipt.
Standing Order
You will need to make arrangements with your bank, and if your circumstances change. Please remember to quote your BID reference number, as well as the Council's own bank details which are as follows:- National Westminster Bank, Castle Circus, Torquay; Sort Code - 55-70-01; Account 06040411; Name Torbay Council.
Unable to pay your BID levy?
If you are experiencing payment problems please contact the Business Rates office on 01803 207197 as soon as possible for help and advice.
Failure to pay your BID levy by the dates required, may result in a Summons being issued to appear before the local Magistrates' Court. If full payment is then not received before the Court Date, the Ratepayer will incur a further £75.00 court costs.
Contact Business Rates
- Tel: 01803 207201
- Email: business.rates@torbay.gov.uk
- Fax: 01803 207234
