Business Improvement Districts on the increase
According to the latest British BIDs report, Business Improvement Districts in the British Isles 2018, the UK has seen a jump of almost 8% in active BIDs in the year to July 2018, the majority in urban centres. This increase indicates that local business communities are continuing to see the benefit to both town and city centres.
London is currently home to more than 20% of the active and developing BIDs in the UK, followed by Scotland and the South East with 12.8% and 12.1 % respectively. In contrast, Bristol and the North East have the least with just 2%, whilst Yorkshire & Humber fare only slightly better with 3.6%.
Paul Clement, head of place shaping at Savills, said: “The fact that we are seeing an increase in both active BIDs and those under development proves that local businesses are willing to put in crucial funding to help improve Britain’s high streets. This follows the announcement by Chancellor Philip Hammond last month, which set out plans to create a £675m fund to pay for local projects. Combined, this will help to create places where people want, rather than need to be.”
