The Winchester BID Annual Review 2024-25 is now available to download and hard copies were sent to BID member businesses earlier this month and are also available to collect from Winchester Business Hub in St Thomas Street.
Winchester Business Improvement District (BID) is a not-for-profit organisation led by the businesses of Winchester. The BID delivers a range of projects and services to help ensure that the city is well promoted, safe and secure, aesthetically pleasing and a thriving location to do business, for customers, clients, shoppers, staff, visitors and residents.
BIDs have now been operating in the UK for 20 years and there are more than 340 established across the country. BIDs are also a global phenomenon and can be found in countries such as the USA, Canada, Germany, the Nordics, Singapore and many more.
Winchester BID has been in operation since 1 April 2008 and operates within a defined geographical area. Over the last 17 years, the BID has raised around £500,000 per year through the collection of an annual levy, paid by over 700 businesses falling within the boundaries of the BID area. Additional funding of around 10% or more has also been raised each year through sponsorship and project generated income.
In November 2022, businesses in the BID area (BID members) voted in favour of Winchester BID continuing its service for a fourth term of five years. The fourth term commenced on 1 April 2023 and will continue until 31 March 2028.
You can read about the second year of the fourth term as well as plans for the future in the Winchester BID Annual Review 2024-25.
