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A BID ( Business Improvement District) is a precisely defined geographical area of a town, city or Commercial district, where businesses have voted to invest collectively in local improvements in addition to those delivered by statutory authorities.
A BID is usually a partnership between the local business community and the Local Authority to take forward projects which will benefit the local community and economy.
The BID itself should be led by the private sector and reflect the wishes of those who will be paying the levy. Although public sector involvement is crucial to the success of the BID, given the expertise a local authority can bring. BID's are a private sector strategy which is intended to empower local businesses to improve the economic outlook of the area in which their business is located.
