Welcome to Eastleigh BID
We are a Business Improvement District (BID) that provides the businesses and organisations in Eastleigh Town Centre more control over their future, enhance the BID area to increase footfall and trade.
What is a BID?
A Business Improvement District (BID) is a business-led not-for-profit organisation that is funded through a levy collected from businesses within a defined area. With the money collected the BID then delivers additional services to the businesses within the BID area, making improvements to the town centre, benefiting those who pay into it as well as residents and visitors who live and visit Eastleigh. BIDs are created through a ballot process and there are currently more than 300 BIDs operating across the UK.
A Business Improvement District is a defined area in which a levy is charged on all business rate payers in addition to the business rates bill. This levy is used to develop projects which will benefit businesses in the local area.
There is no limit on what projects or services can be provided through a Business Improvement District. The only requirement is that it should be something that is in addition to services provided by local authorities. Improvements may include, but are not limited to, extra safety/security, cleansing and environmental measures.
How we are funded
Eastleigh BID levy is charged on all properties or hereditaments* located within the Eastleigh BID area that have a rateable value of £4,000 or over. For the 2024 / 2025 tax year the rate is a 1.8% levy fee. There is no upper cap. All must pay including charitable organisations as they benefit from being in the town centre that we serve. The levy is charged annually at the start of the tax year in one bill.
This allows us the opportunity to represent our levy payers in adding value and making a difference.
The BID levy is a mandatory charge, enforceable in the same way as non-domestic rates, following a successful ballot. There are no exemptions or discounts to the levy for charitable status, mandatory rate relief or businesses paying other service charges.
All premises with a rateable value of less than £4,000 within the BID area will be exempt from paying the levy and therefore will not be eligible to vote in the ballot. The levy is due on 1st April each year and will be payable in full in one single instalment.
There will be no refund if the BID levy payer vacates the premises during the year, therefore steps should be taken to apportion liability with incoming tenants, landlords or freeholders. Where new properties come into the ratings list, or mergers or splits occur, the hereditament or premises, will be charged as per the current ratings list at that time. Where a property is empty, the levy liability will transfer to the eligible ratepayer which may be the property owner.
*Rateable hereditaments can include land and buildings constructed on land, machinery, plant, and chattels e.g., Car parks and cash points.
Eastleigh BID:
The current BID term commenced on 1st April 2024 after a ballot of town centre businesses voted overwhelmingly in favour for the BID to continue for a further 5 years before being voted for again.
The BID is financed through a BID levy on the rate able value of over 300 town centre businesses, the proceeds have been invested into the town centre and on additional projects that businesses have identified and as set out in the:
Eastleigh BID Business Plan 2024 – 2029
The money has and will be used on a wide range of initiatives including marketing and promotion for activities and events. To add to this the town centre rangers and Crime-reduction co-ordinator, provide a vital link between businesses, organisations and the public together. Other initiatives include supporting cleaning problem areas and graffiti removal to help make Eastleigh more attractive. Pop-up shops providing ‘easy in, easy out’ access for businesses in the future will also be encouraged, there is a cardboard collection 3 times a week for recycling and grants have been available on a first come first served basis, to attract new businesses and help existing businesses improve.
Contact Details:
Eastleigh BID, Unit 2 Wells Place, The Swan Centre, Eastleigh, Hampshire. SO50 5SG
Tel: 023 8061 1100
email: info@eastleighbid.co.uk
