A BID can only last five years. The last ballot for the Langthwaite Business Association BID
took place in 2021. The results were as follows:
BID RENEWAL BALLOT RESULTS 2021 - 2026
The BID votes have been counted and the result is a ‘YES'
Turnout of voters by number of levy payers - 41.77%
Turnout of voters by rateable value - 52.24%
Of those eligible votes counted
98.48% voted in favour by number of levy payers
99.91% voted in favour by rateable value.
Business Improvement Districts (BIDs) are the fastest growing partnership framework seen in decades in the UK. A BID is a geographically defined area where firms pay into a ring-fenced pot that funds additional services that the businesses have decided upon and approved in a legal ballot and which will benefit themselves as well as the wider local community. The BID is a legal instrument within the Business Improvement Districts (England) Regulations 2004. Each business pays according to its size (by rateable value: R.V.) to fund the additional services approved by the businesses. The process is managed by the businesses themselves and lasts for up to five years. The current Langthwaite BID, which started in 2016, was renewed by a ballot in 2021.
The past four years of accounts of the Langthwaite Business Association BID