FAQs
A SNAPSHOT OF BIDS IN THE UK
A BID can be set up anywhere there is a collection of business premises and owners that want to make a difference. These include: Industrial Centres, Trading Estates, Businesses Parks, City Centres, and town centres of all types.
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Introduced in England in 2004
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More than 300 in the UK – Minehead was number 301!
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In the UK BIDs include– towns, cities, coastal resorts, industrial parks, Tourism BIDs
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*Total, UK BID levy income - £110.5m
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*120,700 businesses are in UK BID schemes.
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*Value added - £12.5m (11.4% of total BID levy inclusive)
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*97% of ballots last year (2018) achieved a mandate.
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They have influence - 38% of BIDs are working with their local LEPs and many directly influence local town centre strategies, and Future High Street Fund.
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All Party Parliamentary Group for BIDs has been set up to influence Gov’t policy ,
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There are 30 BIDs in the SW region.
The great majority of BIDs are voted in for a first term. Of all the BIDs that have gone to ballot for a second term over 90% have been approved for a further term by an increased majority, and a handful have now entered a third term.
WHY DOES TAUNTON NEED A BID?
Taunton is the County Town of Somerset, served by 2 junctions off the M5. It sits at the heart of the Vale of Taunton and bounded to the North by the Quantock Hills and to the South by the Blackdown Hills, both are AONBs. Taunton is a significant urban and commercial centre for the SW. It has been designated a Garden Town to denote that the Government recognises that is growth hub for the region.
The town centre is architecturally attractive, relatively compact and easily navigable. It has a wide range of stores with most of the key nationals represented. In addition, it has a vibrant independent retail and hospitality offer. Taunton sits on the banks of the River Tone, it hosts the Somerset County Cricket Club, Somerset County Museum, the Brewhouse Theatre and the renowned Castle Hotel.
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