Business Improvement Districts (BIDs) should not be used to fill in the gaps left by local councils in London, according to a new report published today.
Business Improvement Districts: The role of BIDs in London’s regeneration, published by the London Assembly Regeneration Committee, found that while BIDs are making improvements to high streets, they do need stronger governance and accountability.
It also says they should be instigated by the business community rather than local councils.
Gareth Bacon AM, chairman of the Regeneration Committee, said: ‘Business Improvement Districts will continue to grow their influence, but there are important questions about their role and accountability and how they engage with businesses, local boroughs and residents.’
The report calls on the next mayor of London to establish a London Standard for BIDs and set minimum turnout thresholds for all new BIDs.