TBF launches industry minimum standards

A key objective of The BID Foundation is to increase transparency and accountability of the industry. In consultation with BIDs, levy payer groups and policy makers, including the Ministry for Housing, Communities and Local Government and the Welsh Assembly, The BID Foundation have developed some recommended minimum standards, which aim to do just that.

Introducing minimum standards for BIDs was one of the 13 recommendations suggested in research findings from the Institute of Place Management in a state-of-the-art study, launched at The BID Foundation’s spring conference on 30th April.

Catherine Mitton, Executive Director of The BID Foundation said, “We felt it was important to respond to the Institute’s recommendation rapidly. We are therefore pleased to be in a position to launch the standards concurrently to the research.”

The BID Foundation already hosts a live map, which lists all BIDs in the UK and Ireland, including details of those going to ballot but its Council, 22 practitioners who govern the organisation, believe that transparency should go further and suggest that all BIDs should make public basic information in an easily identifiable place on their BID website.

Bill Addy, Chair of The BID Foundation Council and Chief Executive of the Liverpool BID Company added “This is a crucial piece of work and as the custodian and industry for BIDs, The BID Foundation is best placed to lead driving quality and practices of BIDs. On behalf of the Council, we welcome the introduction of minimum standards

Nine simple standards are suggested, including publishing contact details of the Chief Executive or BID Manager, the current BID business plan and most recent ballot result, which should include turnout percentage. Click here to download a copy of the standards.

From 1st May 2019 and upon membership renewal, The BID Foundation will conduct an evaluation of a member’s website and provide feedback. The standards will be reviewed annually by The BID Foundation Council.