Bracknell BID FAQs

A BID is a Business Improvement District BIDs are part of the Government’s long-term strategy to encourage partnership working between a local authority and the business community. A BID is a defined area within which rate-paying businesses decide on new improvements to help transform their area – and then vote to agree the investment. This money is then ring-fenced to provide the improvements agreed through the BID strategy. BIDs see improvements to business profitability and turnover which would not have happened otherwise. Essentially a BID is designed to be for the businesses, controlled by the businesses.

A BID normally lasts for five years but can last for less time. A BID can be renewed for future periods, but needs to go through a renewal process.

A new private limited company, which is limited by guarantee and has its own management board, would be responsible for administering the BID. This is a not-forprofit company; board members would be made up of volunteer individuals who represent the cross section of businesses and organisations across the area. BID boards normally appoint a project manager and support staff to implement the projects identified in the plan. These can be employed directly by the BID or via a specialist project management company which will also then offer strategic support.

Businesses from across the southern and western business districts have come together to create a representative body of people to develop this project. Called, ‘Bracknell Investment Group’ it represents businesses from all business sectors, sizes and types and it has appointed BID specialists, Partnerships for Better Business Ltd (pfbb UK), to help test the feasibility of a BID and potentially develop a BID in this area.

It is essential that the businesses in the area determine the activities and objectives of the BID Business Plan. A series of business interviews, workshops, surveys and other research will be carried out to determine what improvements businesses in Bracknell would like to make.

Using all the input from the businesses across the area, and working with the Bracknell Investment Group, pfbb UK will develop a business plan and lead local representatives and the local authority through the legal requirements to create the framework for the BID.

Improvements are made if the majority of ratepayers in a designated area approve them through a vote. This enables businesses to have a direct role in deciding what improvements should be made in their area. After five years, the businesses will vote again on whether they want the BID to continue

The BID boundary will be determined by you, the businesses, as part of the consultation process. The final decision will take into account natural and discernible boundaries and synergies between the different aspects of the area and the potential levy to be raised.

Current proposed BID Boundary

Bracknell BID Area

The vision and objectives of the BID will be determined by you, the businesses, as part of the consultation process. They will be outlined in the business plan that you vote upon. The action plans drawn up during the BID’s lifetime will all relate back to these objectives.

The BID will deliver the changes and improvements that you and the other businesses in Bracknell identify. These might include improved signage, support for businesses in recruitment of skilled people, addressing access issues and parking, representing the interests of the businesses on more strategic initiatives in the area, such as the attractiveness of Bracknell to set up a business and operate here.

However it is important to remember that the BID will not replace the existing services provided by the local authority. These will be bench-marked and monitored by the BID Company to ensure that the money generated through the BID is used for the improvements voted for by the businesses in the BID.

Download the BID Prospectus

Download the Full BID Proposal & Business Plan

You and the other businesses will identify the issues that will be tackled by the BID in the area. You can also be certain that the BID will:

  • Deliver a pragmatic and business driven agenda
  • Be business led
  • Benefit from effective partnership with the public sector
  • Deliver sustained investment to improve the area over a five-year period
  • Focus on achieving positive and measurable outcomes of benefit to all businesses

The development of the BID is being funded by businesses in the area and supported by Bracknell Forest Council. If the vote is successful, the BID itself is funded by the businesses in the BID and aims to be both fair and transparent. If the majority of businesses vote for the BID, all businesses in the area which meet the levy criteria will be subject to an additional levy to their rates. This overcomes the problem of a few businesses paying for improvements that benefit many. It is also hoped that the BID will serve as a catalyst for change and bring in more investment to the area.

You will vote on how much money you want to pay towards the BID. A levy is charged to all businesses. This levy is based on the rateable value of your premises. On average this levy is usually set at between 1 and 2% of the rateable value. Typically a 1% levy in a BID could possibly generate around £300,000 per annum which will be ring-fenced to make and manage the improvements that businesses have voted for.

A BID can decide on the structure and criteria of its levies and may wish to consider a flat rate, a tiered charging system or capped rates. This will be outlined in the business plan.

You will – once the BID strategy has been drawn up, you will be asked to vote on whether you would like it to go ahead. For the BID to proceed, those who vote in favour must represent a majority of the vote by number of votes and aggregate rateable value.

Contact us to register your details to receive regular e-bulletins and updates about the BID’s progress and activities and participate in the consultation interviews and workshops. A member of the project team is happy to talk with you and discuss the ways that you can get involved. Please email enquiries@bracknellbid.co.uk.

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Need more information? Contact enquiries@bracknellbid.co.uk