Dear BID Businesses,
We're delighted that Bognor Regis BID has been recognised for its high standards and received a national accreditation for Business Improvement Districts.
The BID Foundation’s Industry Standards was awarded to Bognor Regis BID in recognition of its standards of transparency and responsible governance, following an independent review process.
The BID Foundation, a group of over 70 Business Improvement Districts, has developed the Industry Standards for all BIDs with input from UK government and other national bodies. The Standards highlight information and documentation that should be made publicly accessible and easily identifiable by every BID, and are independently accredited by the Institute of Place Management.
Bognor Regis BID has passed the Industry Standards accreditation by demonstrating the high standards of aspects including its business plan, governance mechanisms and reporting, Directors and personal interests, and detail on ballot results.
Being accredited by an independent, professional body on our first attempt demonstrates BR BID’s commitment to openness and transparency, and gives our levy paying businesses and partners confidence in the way BID activity is governed and managed. We’ve redesigned the “Resources” section of our website so the commitments in our five-year Business Plan, finance and governance information – including how decisions are made - is really clear and easy to access. We’ve also re-emphasised the many ways businesses can engage with BR BID, and share ideas and feedback. Outside of the accreditation standards, and on top of our existing updates, we’re now developing a new section on BID delivery activity. This will include detailed project papers – the background research shared with Directors to support their decision making.
Introducing industry standards for BIDs was a recommendation of research into the BID sector and its development in the UK, published in 2020 by the Institute of Place Management.
The Industry Standards are awarded following a review process conducted by The BID Foundation, which is delivered with the support of the Institute of Place Management, the professional body for place managers and leaders, based at Manchester Metropolitan University.
The BID Foundation members have begun adoption of the standards, which award a kite mark to display to levy payers and other stakeholders.
With kind regards,
The BID Team