What is a BID?

A Business Improvement District (BID) scheme is a business led initiative supported by government legislation in which businesses in a defined BID area have voted to invest collectively to improve their own, local trading environment.

Barnstaple is one of several BID towns in the southwest of which Torquay, Paignton, Plymouth, Taunton, Truro and Falmouth also have BID status. Other towns and cities in the county either going for or currently considering the possibility of gaining BID status are Exeter, Newton Abbot, Exmouth, Tavistock, Okehampton, Honiton and Sidmouth.

In Barnstaple, the levy was set at its lowest possible denominator of 1% on all non domestic properties within the BID area with a rateable value of £3,000 or more. The levy for existing businesses was based on the 2005 rate value, with new businesses charged at the newest rates.

A BID does not affect the quality or level of baseline services provided by the local authority. A BID is initiated, financed and led by the private sector with the aim of providing extra or improved services to the BID area as identified within the BidBarnstaple business plan.