BIDs

On 17th March 2006 the Scottish Executive announce that Inverness City Centre was one of six locations that will be granted £50,000 for a BID Pathfinder Project. The aim was to have six locations that are ready to vote on BID proposals once the legislative framework is in place.

On its announcement, Tom McCabe (Finance Minister) said “This is not about what we can do for business but what businesses can do for themselves and I am delighted that the business community has thrown its weight behind the initiative. Each of the six pilot areas is being given up to £50,000 and an opportunity to change their economic outlook for the better – with the prospect of further funding as they move forward."

“It is now up to businesses, working in partnership, and engaging with their local council, to develop proposals to improve their local economies.  They will choose what improvements or services they need with the proviso that any such services should be in addition to what is already being provided in the area."

What is a BID?

"A Business Improvement District (BID) is a partnership arrangement through which local authorities and the local business community can take forward schemes will benefit the local community, subject to the agreement of the ratepayers." (The Office of the Deputy Prime Minister (ODPM), January 2003)

Download "What is a BID?" article

Where has BIDs worked before?

BIDs originates from Canada where it started in the late 70's. The phenomenom caught on in the USA and there are now 800 BIDs operating in North America in total.

Click here for information on USA's BIDs. 

UK's first BID started in Coventry - click here for more information

THE INVERNESS BID

Inverness has a pioneering spirit and a history of leadership and innovation. The BID concept delivers a real opportunity for the town's businesses today. BIDs give businesses the vehicle to make the most of this new opportunity by initiating activities additional to those provided by the public purse. Businesses will be able to take control of their own future trading environment, shape things that affect them and also have a positive impact on the wider community.

For more information on the progress of the Inverness BID visit www.invernessbid.co.uk