The BID levy is 1.25% of the rateable value of your business premises, and payment began from September 2015, when the first requests for payment were sent out. They are separate from your normal business rate demand. It is estimated that the BID levy will raise almost £100,000 each year over five years.
In common with the business rate demand it is a compulsory payment, whether or not you voted in favour of the Ulverston BID proposal.
However, unlike the business rate, you as an Ulverston business owner have the opportunity to control how that money is spent.
All payments go into a dedicated fund which can be accessed only by the Ulverston BID company. A small proportion of the fund is used to finance collection by South Lakeland District Council on behalf of the BID board. But the rest is used to benefit the town, and is controlled by the management board of the Ulverston Business Improvement District limited company.
You can be part of the Ulverston BID board.
On Thursday October 19th, 2017, a public meeting at the Coronation Hall elected 2 new board members. The meeting reported back on how Ulverston BID has been spending almost £100,000 it collects from businesses in the town each year, and answered questions about the operation of the BID. There are vacancies for 3 new board members to represent large business, retail, charities & schools. If you would like to be part of the BID board please contact one of the board members listed on this website or email us.