About Letchworth BID
Letchworth Garden City BID represents businesses in Letchworth Garden City town centre. Its aim is to support the trading environment of the world’s first Garden City and attract new customers and investment.
What is a Business Improvement District – and why Letchworth Garden City?
A Business Improvement District or BID is a formal partnership between local authorities and local businesses, who come together to make and deliver plans to improve trade and footfall within their town centre. BIDs have developed nationally over the last 12 years and have a fine track record in delivering positive change to a business area. A BID must be agreed by ballot and is funded in whole or in part by a levy additional to the non-domestic rates.
Through a BID, local businesses identify projects or services that will add value to their business and agree how to fund and manage it. A BID and its projects complement the services statutorily provided by public agencies such as North Hertfordshire District Council.
Letchworth Garden City BID began life in March 2014 and will run until 2019 when a further vote will be held to decide whether to extend its term. It is the result of a feasibility study commissioned by the Letchworth Town Centre Partnership, which took the form of a series of surveys, forums, communications and consultations of town centre businesses. The initiative is intended to combat the effects of economic recession, competition from neighbouring towns and the growth of online retail.
The Letchworth Garden City BID Company is acting as both a driving force for improvement and a voice for local businesses. The company is working actively with local stakeholders to create, co-ordinate and deliver an action plan to increase footfall and grow and promote Letchworth Garden City’s offer.