What is a BID?

The EC Partnership is currently a business led voluntary organisation, funded by its founding members. We are working to become a Business Improvement District (BID) in the coming years.

Business Partnerships and Business Improvement Districts give a voice to business communities – championing local priorities and ensuring the right people are at the decision table. Businesses understand that together they can be stronger; lobbying on big, strategic issues that impact on their commercial performance and ability to grow. This is not a case of the private sector plugging public sector funding gaps, but genuine collaboration and collective action.

BIDs are established via a ballot of eligible businesses and if successful a small levy is charged and the money raised is then invested into local projects and programmes developed through collaboration with the business community. There are now more than 60 BIDs across London, and already two in the City: the Cheapside Business Alliance and the Aldgate Connect BID.

Should a BID be created in the EC Partnership area this would be one of the biggest BIDs in the UK, able to have a transformational impact in the area and be a powerful force for good in the Square Mile.