The Business Improvement District: companies that collectively invest in their shopping district or industrial estate. All businesses pay an additional tax or levy to fund collective improvements in the area, such as better street lighting, graffiti removal, or more greenery.
The process of establishing a BID varies from one country to the next. However, all BIDs have one thing in common: they are there to improve the area. To achieve this aim, all the stakeholders have to work together and keep each other informed about the process. The more businesses involved, the greater the chance of success.
It can sometimes be a challenge to coordinate the communication between all the BID partners: local businesses and property owners, the local council, the police, marketing companies, and so on. Making practical agreements about the implementation of the improvement plans is perhaps an even greater challenge. This is where the online platform of Chainels can help. Shopping streets, city centers and business parks can benefit from all the communication tools and the up-to-date database that the online platform offers.
Would you like to know more about what Chainels can do for your BID project? Contact us now!