The BID Foundation launch is welcome news for the Business Improvement District industry
Revive & Thrive is very pleased to share the following announcement about the launch of the BID Foundation.
All involved in place management will know that national representation for Business Improvement Districts (BIDs) has been in a state of flux for at least two years now. Revive & Thrive is pleased that the BID Foundation will be addressing this.
Revive & Thrive and Place Magazine stands in a unique position in being open to BIDs and all towns or cities, irrespective of size, and all organisations representing place. Its membership and subscriptions complements and does not conflict or compete with the aims of the BID Foundation.
All at Revive & Thrive and Place Magazine fully support the BID Foundation and offer full support in making this new organisation, built on strong foundations, a great success.
Revive & Thrive and Place Magazine offers its resources and networks to help in anyway to ensure BID Foundation success.
BID Foundation Press Release 17th January 2017
The BID Foundation has launched today (Wednesday 17th January) to meet challenges facing commercial districts up and down the country. Against a back-drop of ever-more difficult trading conditions and local government cuts, the new industry-led body will help Business Improvement Districts (BIDs) manage town and city centre retail, leisure, and other commercial areas more effectively.
The new membership organisation is an alliance of leading BIDs and the Institute of Place Management at Manchester Metropolitan University, which has been appointed as its independent operator. The BID Foundation was set up in response to wide-scale consultation and is led by an elected council of 14 BID Chief Executives from across the country.
Commenting on the launch, Andrew Cooper, Chair of The BID Foundation and CEO of Leeds BID, said: “BIDs will now be able to work together more successfully to encourage change and investment in our town and city centres. We want BIDs to make an even more significant contribution locally and nationally and we need to engage more meaningfully with local and national governments and the wider business community to do that.”
The new industry body will provide strategic direction and practical support to BIDs. It will champion the revitalisation of the high street and commercial areas by raising standards, sharing knowledge and resources, and building a trusted and representative voice.
The BID concept started 15 years ago in the UK, with the operational priorities of making areas cleaner, safer and more attractive. This remit has matured, meaning BIDs are increasingly working with local partners to influence the economic development of the areas they manage and address big issues such as rough sleeping. Now there are nearly 300 UK BIDs and around 25 new ones are being elected each year. Annually, BIDs contribute a total £110 million investment to UK towns and cities.
Stefan Gurney, Vice Chair of The BID Foundation and Executive Director of Norwich BID, said: “It is great to be at the forefront of setting the vision and strategy for the future direction of the BIDs industry. The BID Foundation has been developed by the BID community and we aim to represent the industry with a clear, collaborative voice.”
The Institute of Place Management will provide specialist support and accreditation to members of The BID Foundation to ensure consistent high standards of operation, accountability, and transparency. BIDs will also draw on innovation and research insights from the Institute to inform their future business plans.
According to recent research from the Institute, the fundamental reason many commercial areas are struggling, is that decision makers and stakeholders do not adapt effectively to ongoing changes because they do not act collectively. BIDs provide this essential collaborative approach because they are business-led partnerships where retailers and other services pay an additional levy to fund a collective business plan aimed at improving a specific area.
Chair of the Institute of Place Management, Professor Cathy Parker, said: “We know how important BIDs are and The BID Foundation offers a way to increase both the local impact of each BID involved and further develop the model as a trusted form of urban management.”
The BID Foundation is open to membership from any operating BID. More details are available at www.thebidfoundation.com
The BID Foundation
The BID Foundation is the new industry-led body for Business Improvement Districts created in response to wide-scale consultation. The BID Foundation is an alliance of leading BIDs and the Institute of Place Management at Manchester Metropolitan University. The BID Foundation has been created to elevate standards, lobby and provide practical support to those within the Business Improvement District industry.
A council of BID senior practitioners govern The BID Foundation. Nominations for council election were held in 2017 and 14 BID CEOs have been elected to serve by their peers.
Contact: Andrew Cooper (Chair of The BID Foundation and CEO of Leeds BID)