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What is a BID?
A BID (Business Improvement District) is a not-for-profit organisation funded by and working for levy paying businesses within a defined area of a town or city centre, and/or industrial estate. There are now over 320 BIDs operating in the UK. The BID is an independent organisation, working for the collective benefit of businesses in the area. BID’s provide additional services to the area and aren’t to be confused with local authorities who provide statutory services.
Who funds Oswestry BID?
The BID is funded by businesses occupying a property with a rateable value of £12,000 or more in the BID’s defined operating area. Businesses pay into the BID through an annual levy and these funds are spent on delivering improvements to the town in line with the BID’s business plan.
How much do I have to pay?
The BID is proposing to keep the levy multiplier at 1.75% of rateable value on businesses occupying a property with a rateable value of £12,000 or higher.
Is my business in the BID area?
You can view Oswestry BID’s operating area here (BID Area Map).
Can I opt out of the BID?
No. The BID arrangements are legally binding for non-domestic ratepayers in the BID area who meet the criteria set out in the Oswestry BID Business Plan.
Can businesses below the levy threshold or outside the BID area join?
Oswestry BID offers a Voluntary BID Membership which allows businesses that fall under threshold of £12,000.00 Rateable value.
Business members receive:
Who governs the BID?
Oswestry BID is governed by a Board of voluntary Directors representing levy paying businesses or organisations within the town. The Board is responsible for the strategic and financial management of the BID. You can view the BID Board here.
Who delivers the BID’s initiatives?
The BID employs a team who are responsible for the day-to-day management of the BID and delivery of projects, services and events. View the BID team here.