Wight BID - Business Improvement District
Wight BID is a Business Improvement District (or BID). A BID is a defined area within which specific classes of business are required to jointly fund a programme of activities. It is agreed through a ballot of the levy payers, designed to deliver business growth and improve the trading environment in which they operate. BIDS were first introduced in the UK over a decade ago. There are now over 240 programmes operating across the UK the focus is on supporting programmes that have been developed in collaboration with local businesses that address the specific needs and priorities of each locality.
Whilst every BID is different and tailored to the needs of the local business community, all BIDS are regulated by the Business Improvement Districts (England) Regulations 2004 which set out the legal framework within which BIDS must operate.
Contact Visit Isle of Wight
You can also find further information on the Wight BID website.
Wight BID ballot results
|the total number of valid votes cast||578|
|the total aggregate rateable value of valid votes cast
|the total number of valid votes cast in favour of the BID
|the total aggregate rateable value of valid votes in favour of the BID
the total number of ballot papers rejected
As a result:
- a majority in favour of the BID in the number of those voting; and
- a majority in favour of the BID in the proportion of rateable value of those voting.
The BID is therefore successful.