Falkirk BIDS

Project information

Index: 1348R4
Acronym:Young SMEs
Priority:1: Innovation and the knowledge economy
Sub Theme:Entrepreneurship and SMEs
Location UNITED KINGDOM SCOTLAND South Western Scotland Start/End date of the practice
Start: 2008
End: 20016

Topic of the practice

Falkirk Business Improvement District

Good Practice Information

A Business Improvement District (BID) is a defined area of a city, or commercial district, where businesses come together and agree to invest collectively in local projects and services. They are often a partnership arrangement through which the local business community and the statutory authorities can take forward projects, which will benefit the local economy. Annual cost of the BID is €1.2m
Falkirk BID offers matched funding grants in property enhancement, townscaping, heritage initiatives, co-operative approaches to electricity and waste.
All eligible businesses pay a set levy of 1% of their rateable value. This money pays for the services that the BID provides. Falkirk Delivers benefits from additional funding through its partnership with Falkirk Council andother sources.

Evidence of success

Positive engagement between statutory authorities & local businesses
Over €1.2 m spent on targeted projects & services to improve town centre
Falkirk’s 3 year BID pilot resulted local businesses voting to repeat the BID process for another 5 years.
Group procurement opportunities in business payment services, telecomms & insurance prods.
Sourced significant addit. project funding worth circa £180K

Contact details to obtain further information on the practice

Alistair Mitchell

Falkirk BID

info@falkirkdelivers.com

www.falkirkdelivers.com/

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