BUTE BID INFO
WHAT IS A BID?
BID stands for Business Improvement District which enables businesses within a town or district to work together, and positively impact upon the local community. The Steering Group decided that our application to become a BID should be an island BID, not just its town centre of Rothesay. We want to ensure this BID is fully inclusive, and benefits as many areas as possible, working together to address our prioritised areas for improvement..
Owners or managers of levy paying businesses on Bute were able to nominate themselves or be nominated to join the volunteer board as a Director of Isle of Bute BID via the Isle of Bute BID website before 28 September.
A seat on the BID Board is by no means an honorary position; it involves active participation and involvement in all aspects of delivering the BID Business Plan. It requires attendance at numerous meetings and a willingness to work closely with the both the levy payers and the various statutory and non statutory organisations and bodies that expect their input to be used for the best outcome for the island of Bute.
HOW DID THE BID BEGIN?
Currently there are 37 BIDs effective in Scotland and 320 across the UK. Many are now into their second and even 3rd terms. Many are town BIDs but all aim to make a difference to their local community and economy by actioning what they believe is essential for their area. The first stage of our Isle of Bute BID has already been successfully led by our Steering Group. The official BID work was on hold over the Covid period. It was restarted when covid allowed, and the information as set by the Scottish government for BID's was disseminated. The vote was set out via a business plan, a ballot paper and information on the website. In September 2021 the vote came back positive to have the BID on Bute. 188 Bute businesses returned their ballot giving a turnout of 79%. The results were 115 in favour and 73 voting against. The aggregate total of the rateable value who voted was £1,451,585 with £1,026,500 in favour of the BID. Therefore, the vote was successful on all counts required by law and the BID Company became operational on 1st October 2021. All businesses located within the BID area will now be required to pay the levy on the rateable value of their business premises as detailed in the BID Business Plan.