Frequently Asked Questions
What is a BID ?
A Business Improvement District (BID) is a defined geographical area which the local businesses have voted to invest in collectively to improve its trading environment. A BID organisation is then established to administer and achieve this which answers to a Board of local business people. BIDs provide additional or improved services as identified and requested by local businesses which is funded by a levy on local businesses. Services are specific to the needs of the area and range from public realm improvements, member benefits, extra safety, cleaning or environmental measures.
Who actually is Tooting Town BID ?
Tooting Town Business Improvement District is a not for profit company limited by guarantee. Tooting Town BID would be run by a BID Manager and have a Board of non-executive Directors made up of 12 representatives from the local business community, representing different business sizes, sectors and locations.
How do I know what it will cost me ?
A BID is funded through a BID levy, which is calculated as 1.75% of a business’s rateable value. A business with a rateable value of £20,000 would pay £350 per annum. Once a ballot is successful the BID levy is mandatory and payable annually for all eligible businesses for the 5 year term. BIDs can choose to not include certain businesses from paying the levy (and therefore from voting in the BID ballot). Tooting Town BID chooses not to include the smallest businesses – those with a rateable value under £12,500.
What is the levy used for?
The budget will be presented in the BID business 5 year plan. Audited accounts will be published each year with the annual report. Tooting Town BID is a not for profit organisation and all expenditure is focused on activities and initiatives in Tooting Town.
When do I get a vote and how does that work?
Every business receives one vote for each business premises they occupy. Each business will be asked to identify the nominated voter for their business and this will be confirmed through a mailout in October. From 6th November ballot papers will be sent out by Wandsworth Council to each voter. These must be returned to Wandsworth Council by 5pm on Thursday 5th December 2019.
What choices do I get on the ballot paper?
There are just 2 choices – vote Yes to support a BID in Tooting Town or No to not support a BID in Tooting Town. There are no third parties to vote for, it is a simple Yes/No vote.
What does the BID need to be successful in the ballot?
There are two simple measures that the ballot needs to meet; a simple majority of those that vote, voting Yes and a simple majority of the rateable value of the eligible businesses in the BID area voting yes.
What happens if the ballot is unsuccessful?
Tooting Town BID and the services and activities proposed from April 2020 for a period of 5 years would not operate.
From 24th October: A notice of ballot will be posted to businesses in the proposed BID area (who would pay the levy and are eligible to vote) by Wandsworth Council electoral services.
From 6th November: Ballot papers will be posted to Voters at BID businesses
By Thursday 5th December at 5pm: You need to have cast your vote and posted back your ballot paper to Wandsworth Council.
On Friday 6th December : The ballot result will be formally announced by the Returning Officer at Wandsworth Council.