A key objective of The BID Foundation (TBF) is to increase the transparency, accountability and professionalism of the industry. Developing a set of simple standards was one of 13 recommendations suggested by the Institute of Place Management (IPM) in a state-of-the-art review of the industry.
The IPM advised all BIDs to publish important information about their management and governance on their website, for levy payers and wider stakeholders to have confidence in their operations.
The Industry Standards have been developed through consultation with members of TBF Council, the British Retail Consortium, Ministry for Housing, Communities and Local Government, Scottish Towns Partnership and Welsh Government.
TBF Industry Standards state that the following information must be easily accessible through a BID's website:
These standards are freely available and we encourage all BIDs to meet them, however the assessment and accreditation of the standards are only available for paid members of The BID Foundation.
Members of the BID Foundation are also expected to meet these standards and their compliance is independently audited by The Institute of Place Management. The BID Foundation works with Member BIDs to support their adoption of the standards.
Download the checklist
The Industry Standards checklist enables any BID to evidence their work to meet each standard, by providing a web link and commentary. BIDs should complete this checklist and return to the The BID Foundation in order to be formally accredited.
Evidence Sheet IMS 2021