WHAT IS KENDAL BID?
A Business Improvement District (BID) is a business-led initiative where businesses and organisations, within a defined area, work together to make decisions and to take action which will benefit the members of the area.
A BID is a not for profit organisation where local businesses and organisations have the power to raise funds collectively through a BID levy. If a BID is established a levy is charged to all premises with a rateable value of over £3000 and is equivalent to 1% of the premises rateable value. These funds are used for local initiatives with the aim of improving the town, supporting local businesses and boosting the local economy.
For a BID to be established a ballot has to be taken and all eligible business ratepayers within the defined area are be entitled to vote. In order for a BID to be established:
More than 50% of the number of voters must be in favour of the BID proposal; and
More than 50% of the combined Rateable Value of voters must be in favour.
If the vote is successful then the BID will be established and funded by a BID Levy that is charged in addition to standard business rates.
The day to day operations of the BID are ran by a board of unpaid volunteer directors from local businesses in the BID zone area alongside a project manager and an admin manager.
WHAT HAVE WE DONE SO FAR?
INVESTED IN KENDAL
BID has invested £1.2 million of funding into our local economy and local businesses
SUPPORTED 700 LOCAL BUSINESSES
BID supports over 700 local businesses and organisations in our town
BROUGHT MONEY INTO OUR ECONOMY
Through festivals, events, marketing and coaches BID is bringing money directly into local businesses
BID has ran dozens of projects to support local businesses and local jobs from trails to training