The concept of a BID ( Business Improvement District) is to allow local businesses within a specified geographical area to provide a percentage of the rateable value of their trading unit to be paid to an independent, not-for-profit organisation, which then spends the money on behalf of the businesses, delivering additional benefits to those already required to be provided by statutory authorities to improve the trading environment for their members.

For a BID to be introduced, there is a requirement of a ballot whereby all businesses above a stated rateable value and within a geographical area are invited to vote on whether a BID should be introduced.

There is also a requirement to set a rateable value threshold for those businesses entitled to vote in a ballot and who will become BID members should the outcome of the vote be in favour of the BID.

Since the first ballot in 2009, this threshold has been set at £10,000 in Bury St Edmunds…

The Our Bury St Edmunds BID was created on 1st April 2010 and was successfully returned for its third 5-year term, which commenced on 1st April 2020.

Every existing BID must hold a ballot every five years when all BID members are allowed to vote and indicate whether they want the BID to continue. Our next ballot will be held in 2024.

Of those businesses who voted in the most recent ballot, 84% asked that the BID continue, the highest level of support we have received at the three ballots over the past ten years.

The exact number of BID members can fluctuate due to businesses opening and closing, but as of 1/4/23, there are over 400 mandatory BID members. We also have over 30 members who choose to be a BID member even though they may have a rateable value below our £10,000 threshold or be located outside of the BID area (the designated BID area is on pages 24&25 of our current Business Plan which you can download below).