Business Improvement Districts
Meeting Business Criteria
During the past three years criteria has been adopted by individual businesses and representative organisations such as the British Retail Consortium for evaluating Business Improvement District initiatives. We have sought to summarise this criteria and confirm that New West End Company fulfils each requirement set down for our second term.
- Increasing footfall and sales and reducing business costs are our core objectives
- New West End Company activities are wholly additional to those provided by the statutory authorities and other agencies
- £5 million matched funding will be invested by the Property Sector
- £17 million matched funding will be invested by the Mayor of London
- Our Crime Intelligence Partnership is a core programme
- New West End Company is wholly business led
- Retail investment (the BID levy) is set at 1% of rateable value
- Our business plan illustrates how the BID intends to achieve its objectives and deliver a return on investment and sets out a clear geography based upon the retail offer in London’s West End
BIDS
A Business Improvement District (BID) is a business led partnership working with relevant public agencies and associations to improve the trading performance in a specific area and to make it a more pleasant place in which to shop, visit, work and live. BIDs are designed and led by the business to drive business performance.
Links
www.londonbids.info
www.retailbids.org
www.britishbids.info