Changing the landscape of UK BIDs

The United Kingdom’s only programme that gives every place the opportunity to establish the feasibility of a BID without risk and maybe even without a fee

Revive & Thrive Ltd is the only UK organisation to offer the United Kingdom BID Feasibility Programme (UK BFP) enabling risk-free research into the feasibility of a Business Improvement District (BID) for your locality. Your place won’t pay a penny until the BID goes forward into the development phase and even then, there may not be any fee at all. 

The new UK BFP provides, with no upfront fee, the opportunity to receive a full BID feasibility study giving you:

  • Confidence that a BID will work
  • Quality, data driven business consultation
  • BID boundary and levy options
  • A full Revive & Thrive feasibility report on a BID in your area, including approximate levy income and representative data on the business landscape in your area.

We specialise in BIDs for towns, cities and industrial estates, giving you the benefit of an expert and experienced team, passionate about places.

The best part of this programme is that if the study finds that the BID is not feasible for your area, or if you choose to work with Revive & Thrive to develop your BID, then you won’t have to pay for the feasibility study at all. The feasibility study could be absolutely free. If you decide to proceed with developing a BID and choose to partner with a different company the full cost of the feasibility will be payable.

Who is it for?

The UKBFP is ideal for any group that thinks a BID would benefit their area. It could be a city, town centre, industrial estate or region. If you’re unsure, just get in touch and tell us about your ideas.

Groups that can apply include:

  • Business groups
  • Chambers of Trade
  • Local authorities
  • Town Centre Partnerships

BIDs are business-led. We will want to see that you have some interest from the business community and understand the process of BID development. If you would like to talk this through with one of our team, please email bids@reviveandthrive.co.uk or call 03330 124285 and choose option 2 for BIDs.

What is involved in a feasibility study?

The purpose of the feasibility study is to discover if a BID is financially viable in your area, and if there is business support to establish a BID.

Alongside a consultation with businesses, Revive & Thrive will analyse the BID boundary and levy options to ascertain the likely outcome of a BID ballot, how much levy a BID could potentially raise in your area, and what projects could be included in the business plan. By the end of the process, you will have a great head start on the development phase, including:

  • Business consultation
  • Initiating relationships with your local authority
  • Indicative data about levy income and project themes
  • An active BID steering group ready to take the BID forward.
How much is the UK BFP worth?

A typical Revive & Thrive comprehensive feasibility study usually costs from £5,000 plus VAT.

When do I have to pay for the feasibility?

The payment is due  when the upon completion of the feasibility report. However, if the study finds that the BID is not feasible, or if you choose Revive & Thrive to develop your BID, we will write off the loan, giving you a risk-free insight into whether a BID would work in your area.

See terms and conditions for full details.

When is the loan application open?

The first round of applications will open on 1st August 2019 and applications will close for 2019 on 31st October 2019 Work of feasibility reports, through the UK BFP can start any time from 14th August to 30th November 2019.

How do I apply?

Register your interest by filling in the form below providing some context and background to why now is the right time for your place. You may also upload attachments to support your application.

Once we have received your application, Revive & Thrive will contact you requesting additional information and clarification if and as required.

The application process may be sped up by early submission of evidence of serious intent as requested in the terms and conditions.

When will I know if my application has been successful?

We will let you know within 4 weeks of acknowledging your completed application if you have been successful . Following this we would look to agree a date for the inception meeting as soon as possible to begin the feasibility.

When will the feasibility study be completed?

Feasibility studies normally take around three months to complete. If you’re successful, the first thing we will do is visit you to find out more about the area, and discuss appropriate timelines based on the unique needs of the area.

Who will be carrying out the feasibility study?

The Revive & Thrive team will be delivering the study in-house.  The team has over 40 years’ collective experience in place management and additionally offers you access to the best event management, design and membership services in the industry.

Can I get the programme as a financial payment?

The programme is not available as a financial payment. We are providing you with all the resource required for an industry leading quality feasibility study.

You won’t be under any obligation to use our consultancy services to develop your BID, but we are confident that after working with us, the quality of our work will speak for itself and make us the obvious partner to take your BID to ballot. If you do choose Revive & Thrive, the loan will be written off and you will only pay for the development consultancy.  The development phase will be priced at competitive rates and offered for consideration with the same comprehensive level of service that clients have come to expect of Revive & Thrive.

 

Don’t forget that if a BID is not feasible you will not have to pay anything to Revive & Thrive.

For any more information please contact bids@reviveandthrive.co.uk. Otherwise, please register your interest by filling in the below form.

 

Numbers are limited so please ensure that your place is at the front of the queue by applying now or registering your potential interest below.

Apply for the UK BFP

Please Upload Supporting Documents Here



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