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BID Schemes on the rise

11 March 2011

Despite the controversy behind their creation, the majority of BID Schemes (Business Improvement Development) appear to be successful.

Bid Schemes are set in place by a non profit steering group with an aim to improve trading conditions for local businesses.

These businesses pay a levy on top of their existing rates into a ‘pot' that can be used for regeneration of the local area.

In Dorchester, a free parking scheme to boost town centre trade has been warmly received by traders and shoppers alike. Any shopper spending £10 or more in local shops was given two hours of free parking. Many businesses that are signed up to the scheme have reported an increase in sales since the scheme began in November 2010.

Traders in the Boston BID Scheme have appointed three wardens to deter shoplifters and other minor criminal offences. The Wardens cover from 7am to 7pm, seven days a week and although traders would like to see the success of this scheme extended, they are limited by cost.

Employees of businesses in the Worcester BID Scheme are being given loyalty cards. The card entitles them to a permanent range of discounts in stores within the city centre who are members of the BID Scheme. The aim is to encourage the people who work in the centre to spend their money locally in the lunch hour or after work, aiding the survival of independent stores.

These are only a few examples of innovative stories concerning BID Schemes which are growing in popularity.

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