Monday January 20th 2025
Written by Local Democracy Reporter, Paul Kelly
Businesses in the Tweed Valley have voted to work together – and pay a little extra – in a bid to offer a brighter future for the area.
Following the results of a ballot count the Tweed Valley Business Improvement District (BID), knwon publicly as Go Tweed Valley, has been approved again.
Seventy-nine businesses were eligible to vote on whether the area should become renew its BID having first been successful in 2019.
Now the votes are in with a total of 45 businesses supporting the move and only six voting against. The announcement means businesses in Tweed Valley have voted to once again boost the town’s economy by paying an additional levy on top of their normal business rates which will go towards improvement projects.
The additional income raised will be invested into the local area in line with priorities outlined in an agreed business plan.
Four key priorities have been identified in the BID – Marketing & Promotion; Business Support; Tourism Infrastructure; Events and Festivals and Business Support & Advocacy.
You can read more about the Tweed Valley BID here Go Tweed Valley
What is a BID?
A Business Improvement District (BID) in Scotland is a defined geographical area where businesses come together to invest collectively in projects and services that aim to improve the local trading environment. It is a partnership arrangement funded by the businesses within the BID area, which pay a mandatory levy to support the agreed-upon initiatives.
Key Features of a BID in Scotland:
– Defined Area: A BID is limited to a specific geographic area, such as a town centre, industrial estate, or business park.
– Local Business Investment: Businesses within the BID area pay a levy, typically based on the rateable value of their premises. The funds are used to deliver projects and services identified by the businesses.
– Time-Limited: A BID operates for a fixed term, usually five years. At the end of this term, businesses vote on whether to renew the BID for another term.
– Ballot Process: A BID is established only if a majority of businesses in the area vote in favour, both in terms of the number of votes and the rateable value represented by the votes.
– Improvement Projects: Common projects include improving public spaces, marketing and promoting the area, organising events, enhancing safety and security, or offering training and support for businesses.
– Additional Services: A BID delivers additional services beyond those provided by local authorities, ensuring they address specific needs and priorities of the business community.
There are numerous BIDs across Scotland, such as:
Essential Edinburgh: Focused on the city centre.
Go Forth Stirling: Supporting businesses in Stirling city centre.
Inverness City Centre BID: Enhancing the environment and attractiveness of Inverness.
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