Oadby and Wigston Borough Council is undergoing a feasibility study to introduce a Business Improvement District (a BID) across the borough.
A Business Improvement District (BID) is an organisation which delivers a range of projects and activities in consultation with businesses within a defined geographic area. Businesses within that area vote, via ballot, on whether they want a BID. Assuming that a BID receives a majority vote at ballot, the businesses within the area then pay a levy based on their rateable value, with that money spent on services that they believe will benefit their businesses and the area. BIDs are not for profit organisations.
A BID has a maximum term of five years before businesses are balloted again to ask if they would like the BID to continue.
