MANSFIELD BID / What is a BID?
What is a BID?
Here at the Mansfield BID we are committed to ensuring locals and visitors are able to easily navigate to, from and around our town centre to enable as many people to utilise services and businesses within our area.
ABOUT OUR, AND OTHER BIDS
The Mansfield BID is a local, private sector-led organisation whose role is purely to deliver the improvements that businesses have highlighted in a defined area. Across the UK BIDs have invested in their areas, delivered physical improvements to towns and cities, increased footfall by promotions, marketing and events, reduced business costs through collectively procuring trade waste collections, and business maintenance services that benefit the trading environment through bringing added value services to the businesses and the town.
THRIVING FOR CHANGE
Mansfield BID is the lobbying voice for businesses to deliver change. This allows businesses and local authorities to work together as equal partners working toward common goals which support the local economy by ensuring the town evolves with the continual changes to ensure Mansfield continues to thrive. The BID Identifies what issues and drivers are important to various stakeholders done through consultation, engagement and securing their participation in the BID lobbying change.
ISN’T THIS JUST ANOTHER COUNCIL INITIATIVE?
Not at all, a BID is controlled and managed by local businesses that are paying the levy. The majority of successful BIDs are delivered through a not for profit Company Limited by Guarantee. The BID Company will deliver the BID projects and services and is directly responsible to all businesses through a Board elected from those businesses that pay the BID levy.
WHO PAYS FOR A BID?
Non-domestic ratepayers within a BID area pay for the BID through a supplement in their rates bill. A BID proposal will state whether all ratepayers will be charged or if the charge only applies to a particular group.
ISN’T THIS WHAT I PAY BUSINESS RATES FOR?
No, Business Rates are collected by Mansfield District Council and are then re-distributed nationally. Mansfield District Council spends the allocated funding on services that are both statutory and discretionary. Businesses have very little control over what services these funds cover but do include street lighting, street cleansing, highway maintenance and policing. BIDs are completely different.
WHERE DOES THE MONEY GO?
The money is collected locally; it can only be spent within the defined BID area and is managed and controlled by you. The money collected by the BID can only be spent on projects that businesses have identified as their priorities that are contained within this Business Plan. The levy does not pay for anything that is covered by Business Rates. The services and projects a BID provides are always additional.
ARE BIDS JUST A WAY OF COUNCIL’S SAVING MONEY?
BID money can only be used to carry out projects/services ADDITIONAL to those that public services have to provide. Prior to the BID Business Plan being produced the current services being delivered by all public agencies including the Local Authority and Police are baselined / benchmarked. The Local Authority has to continue to deliver that level of service for the period of the BID.
CAN I BE SURE THE BID DELIVERS THE PROJECTS AND SERVICES SET OUT IN THE BUSINESS PLAN?
The BID will be focused on delivering the four priority objectives set out in the BID Business Plan. We will report progress regularly via newsletters, e-bulletins and will prepare an Annual review. The Business Plan is binding and any significant changes would have to result in an alteration ballot through a vote of the levy payers.
DO BID'S WORK?
The BID is a local, private sector led organisation whose role is purely to deliver the improvements that businesses in a defined area. Across the UK BIDs have invested in their areas, delivered physical improvements to towns and cities, increased footfall by promotions, marketing and events, reduced business costs through collectively procuring trade waste collections.
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Mansfield BID Company Ltd. Registered in England, Scotland & Wales. Company Reg No. 07075136. VAT Registration No. GB 994765940