Frequently Asked Questions
A Business Improvement District (BID) is a geographically defined area, in this case the South Wimbledon Business Area (SWBA). The SWBA is made up of the following individual estates: Deer Park Estate, Lombard Business Park, Merton Industrial Estate, Riverside Business Park, Saxon Business Centre, The Tramlink Estate and Windsor Park Industrial Estate. A BID is a business-led and business funded body set up to improve a defined commercial area.
A BID is funded through the BID levy, which is calculated as 1% of a business’s rateable value. A business with a rateable value of £20,000 would pay £200 per annum. Once a BID ballot is successful, the BID levy is mandatory and payable annually for all eligible businesses for a 5 year term. BIDs can choose not to include certain businesses from paying the levy (and therefore voting in the BID ballot). SWBA has chosen not to include the smallest businesses on the estate – those with a rateable value under £8,000. Charities will also receive an 80% discount. The maximum businesses with a rateable value of over £300,000 will pay has been capped at £3000 per year.
Outline budgets are in our 5 year business plan and our accounts will be published annually. SWBA Ltd is a not for profit organisation and all expenditure is focused on activities and initiatives for the estate.
No. The money collected does not go to Central Government or Merton Council. Funds are only for the projects agreed and voted for by the BID levy payers.
We were successful in achieving Business Improvement District status for the South Wimbledon Business Area following a formal ballot undertaken by Merton Council in May 2017 in which the majority of businesses who voted were in favour of becoming a BID. The 5 year BID term began on 1 July 2017
Each year we will ask businesses through an annual survey what their key priorities are. Our Estate Co-ordinator will also be happy to meet you to discuss what you want as a business from the BID. Please contact her at: firstname.lastname@example.org to set up a meeting.
BIDs enter into a baseline agreement with the local authority and other service providers which guarantee the level of service provision in the area. These ensure that any services the BID provides are truly additional. This document enables SWBA Ltd to hold the Council to account for what they should be delivering on the estate in terms of cleansing etc. An Operating Agreement is also entered into between a BID and their local authority governing how the BID levy monies are collected, administered and passed over to the BID.
Each year we will publish an annual report detailing the activity we have undertaken in the last year as well as our audited financial report. Every business in the BID area will have access to this report. The SWBA Board of Directors will review progress against the Business Plan and Key Performance Indicators to ensure the plan is delivered as proposed.