A Business Improvement District is created when businesses in the BID area vote on a business plan which is tailored to respond to the needs of the businesses. This can typically include a safe and clean agenda, marketing, and business support. The formal ballot is open for 28 days and every business is given the opportunity to vote via a ballot paper. The council will issue voting papers that are posted to the business premises. BIDs operate under The Business Improvement Districts (England) Regulations 2004.
For a BID ballot to be successful it must be won on two counts:
- A straight majority by the number of those voting.
- A majority in the Rateable Value of those voting.
The businesses, whether they voted yes or not will have an annual mandatory levy payment based on their rateable value. A BID term is usually for a five year term and then the BID can go back to ballot for a new term if appropriate.
In November 2021, 396 businesses within Putney town centre were balloted, and 204 ballot papers returned. 85% of businesses by number, 93% of businesses by aggregate rateable value with a 52% turn out voted for Positively Putney to continue for a second term. The BID2 term started on 1st April 2022.
In November 2016, 407 businesses within Putney town centre were balloted, and 147 ballot papers returned. 75% of businesses by number, 74% of businesses by aggregate rateable value with a 39% turn out voted for Putney to become a Business Improvement District. Positively Putney Business Improvement District became operational in April 2017.