Business Improvement Districts (BIDs) are business led partnerships which are created through a ballot process to deliver additional services to the area they operate within.
Within the defined area of a BID, a levy is charged on all business rate payers in addition to the business rates bill. This levy is used to develop projects and service which will benefit businesses and the neighbourhood.
There is no limit on what projects or services can be provided through a BID . The only requirement is that it should be something that is in addition to services provided by local authorities. Find out more on the government website.
Better Bankside was one of the first Business Improvement Districts in the country, established in 2005.
We are an independent, not-for-profit company, limited by guarantee. Our services are additional to those delivered by the local authority and other providers.
Every five years, businesses have the opportunity to vote on whether they want Better Bankside to continue. This ensures our programme of projects and services remains relevant to the membership. In April 2025, we started our fifth 5 year term, after 91% of the business community voted to support our renewal.
During our 2025 ballot campaign, the Better Bankside team met with 880 Bankside businesses. Their feedback helped shape our 2025-2030 Strategy and our vision for a Stronger, Greener, Happier Bankside.
The BID stretches from London Bridge to Blackfriars Bridge, from the Thames in the north to Borough Station in the south.
Businesses with a rateable value of £26,000 and above automatically become members and contribute a levy of 1.7% of their rateable value, which is processed through the local authority. This generates around £1,957,000 each year, all of which is invested back into your priorities, here in Bankside. For more information please see our BID levy FAQs.
We are committed to growing our neighbourhood to create a more diverse business network, a stronger unified voice and new opportunities for all.
