New West End Company is a company limited by guarantee. It has British BIDs and The BIDs Foundation recognition and compliance status.
Formal partnerships, and more specifically Business Improvement Districts (BIDs), can provide effective organisation models, which bring together the business community, both occupiers and owners, and the public authorities, to work together for the benefit of defined locations.
BIDs are business-led and business-funded; formed to improve a defined commercial area. They are statutorily established once voted for by the majority of businesses or owners in an area and have a maximum term of five years before returning to their electorate to ask to be renewed. Over 300 BIDs currently operate across the UK.
New West End Company is the BID proposer for both the Property and Occupier BIDs and is the legal entity that, assuming successful ballots, will run the activities of the Occupier and Property BIDs for the designated BID area. The BID will be governed by New West End Company and, in keeping with regulations, will hold separate budget accountability and reporting for both BIDs.