The starting pistol for Swansea BID was fired on 1st August 2006 when the 6th Business Improvement District in the UK and the first in Wales became a reality. We are a private sector not-for-profit company limited by guarantee that is elected by and funded by businesses/ organisations as a Business Improvement District, or BID, a model that exists in over 300 locations countrywide. Importantly, each BID is tailored to suit the local environment, needs and stakeholders and every business plan are different to reflect the challenges in each area.
Swansea Bid is one of the older BIDs in the UK. It was established on August 1st 2006, after being given a positive mandate by a ballot of businesses over £5k rateable value in the designated BID area. In 2011 and 2016 they voted to renew the Business Improvement District in Swansea City Centre. All ballots have been run by Electoral Services at The City & County of Swansea.
For a BID to go ahead the ballot must be won on two counts:
- Straight YES majority
- Majority of rateable value (the value of a commercial property unit)
This ensures that the interests of large and small businesses are protected.
Since we were founded in 2006, we have invested more than £6 million in the BID area. As the first BID in Wales, we are proud to have been a trailblazer for subsequent BIDs, leading the way on investment, ideas and results.
We work closely with the Safer Swansea Partnership, South Wales Police and the City and County of Swansea, to promote the interests of our 850-plus BID businesses and to improve and promote Swansea City Centre as a great place to shop, study, stay, visit and do business.
Of course, The regeneration of our City Centre is a key strand of the £1.3 billion City Deal, which was secured in March 2017, so it is fitting that Swansea BID is an active and vocal member of its delivery team. We are also members of the Swansea Bay City Regions board, we sit on The Federation of Small Businesses’ Swansea Bay Committee and we are a member of South Wales Chamber of Commerce Council.
Our Chief Executive is the Acting Wales Chair for the Association of Town Centre Management, the Revive & Thrive Welsh Ambassador, an Institute of Place Management Member. He has also been part of British BIDs National Advisory board and The BIDs Foundation Council Member.
Being in operation for circa thirteen years we have delivered a huge amount of projects, schemes and services that have made a difference and continue to do so day in day out. Like any business growth is important which is why we have a whole host of new projects, schemes and services in the pipeline for the 3rd year of our 3rd term at these exciting times in the BID area regeneration journey.
What is a Business Improvement District?
A BID is a business-led and funded partnership, seeing businesses within a defined trading area identify and prioritise potential improvements, then invest in those improvements.