Canterbury Business Improvement District
A BID is a business-led, business-funded partnership which carries out improvements and provides services in a specific area. They are funded by the businesses that benefit from them and the money can only be spent within the BID area on initiatives that have been agreed in a formal business plan.
They can be developed in any business location that has rate payers, and can be proposed by any rate payer, property owner, local authority or other key stakeholder with an interest in the area.
A BID is set for a maximum of five years. After five years there must be another vote, based on a new proposal.
The current BID scheme is in place until October 2024.