BID Response

It has been brought to our attention that there has been a document circulated to local businesses that is raising concerns and worries about the proposed BID research and potential project.

We have tried to provide some information in relation to the document which is quite lengthy. Please click here to see our response: bids-response-f

What is a BID? and why should I care?

A business improvement district (BID) is a defined area within which businesses are required to pay an additional tax (or levy) in order to fund projects. The BID is often funded primarily through the levy but can also draw on other public and private funding streams.

It is important that all business ratepayers are engaged in the discussion about a potential BID for Sevenoaks.  Firstly to help shape the projects and Business Plan so that it delivers what your business needs and secondly that if it reaches a vote and is then implemented it will have a financial impact for your business e.g. 1% of rateable value.