Businesses raising £2.1m weekly to transform UK high streets

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// 128,785 of pubs, shops, cinemas, cafes and offices in the UK are now part of a BID
// Businesses are raising £2.1m every week to help improve the high street

Many high street businesses in the UK are raising £2.1 million each week to increase shoppers and visitors.

The Canadian model of Business Improvement Districts (BIDs) has reached 300 UK towns and cities where businesses are gathering funds to re-invest back into the high street.

Meanwhile, industry experts from British BIDs – part of Savills – found that BIDs are continuing to grow across the UK with 128,785 of pubs, shops, cinemas, cafes and offices now part of one.

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The income raised will be reinvested back into high streets, town and city centres, and spent on schemes to help transform them, whether it’s by improving parking, safety, and recycling or arranging utility cost savings.

“We begin a new decade, with a new majority government, however our high streets still face the same challenges from the rise in internet shopping to heavy rents and rates,” British BIDs chief executive Chris Turner said.

“In 2020, we must redouble our efforts to reinvent our high streets, attract people to them, and help our businesses thrive in the process.

“Business Improvement Districts play a vital role – led by businesses for businesses, they are raising millions to improve their towns and cities, making them safer, cleaner, and more attractive to shoppers and visitors.

“We want to see this investment double in the next decade, and BIDs working with local authorities and other community organisations can make this happen.

“We look forward to playing our part by helping set them up, grow, succeed and transform our high streets.”

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