FAQs

What is a BID?
Constituted in UK Law in 2004, a Business Improvement District is a defined area where businesses have voted to invest collectively in local improvements to enhance their trading environment. BIDs provide extra services within their areas, funded via a BID levy charge, which is payable by non-domestic ratepayers. BID services are additional to the services provided by the public services and local authority.

How is a BID funded and who pays the BID levy?
All businesses within the BID area will pay a set levy. These funds are brought together and regenerated to provide additional activities and services which benefit businesses within the BID area(s). These added value services are aimed at improving the area for its businesses, employees and visitors – from street cleaning, recycling and crime reduction, through to Christmas lighting and green initiatives. Find out more about what we do at Reading BID.

How do I know if I’m a BID levy payer?
Reading Central BID – if your business is based in Reading Central BID area and your rateable value (RV) is £10,000 or more, you are a levy payer.
Abbey Quarter BID – if your business is based in Abbey Quarter BID area and your rateable value (RV) is £10,000 or more, you are a levy payer.

How much is my BID levy?
BID levy payers in Reading Central and Abbey Quarter BIDs 2024-29 pay 1.4% of their rateable value (RV) per annum. For example, if your RV is £10,000, you will pay £140 per annum.

Who collects the BID levy?
The BID levy will be collected by Reading Borough Council on an annual basis and the funds transferred to REDA (management company of Reading BID), net of collection costs. Final yearly accounts will be produced and submitted to Companies House by REDA.

When will I need to pay the levy?
The levy will be due in full on 1 April each year that Reading Central and Abbey Quarter BIDs are in operation and will be invoiced on a separate bill from the business rates. The BID levy invoice is administered through the business rates department within Reading Borough Council.

How many BIDs are there in Reading?
Reading BID is currently made up of two BID areas, Reading Central BID and the Abbey Quarter BID. Each BID has its own business plan, committee and priorities.

Who manages the BID?
Reading’s Economy & Destination Agency (REDA) is the overall management company of Reading Central and Abbey Quarter BID. REDA acts as the ‘BID Body’ but delegates operational control to a committee of the Company’s Board of Directors – the BID Committee. The Board appoints the committee chair and delegates authority to the BID committee to deliver the business plan.

How were the BID business plans devised?

Both BIDs held consultation exercises during 2023 to ascertain what services businesses would require in a future potential BID 2024-29. You can see the consultation document for Central BID here and the consultation document for the Abbey Quarter here.

Who forms the BID Committees?
BID committee members are stakeholders and volunteers appointed on an annual basis from representative business, local agency sectors from appropriate geographical areas within the BID. There is Committee for Reading Central BID and a separate BID Committee for Abbey Quarter BID. The BID Committees are ‘managed’ by the BID Manager, who is a staff member of REDA. Variations can be made by the BID Committee(s) where alterations represent less than a 25% variation of budget. For larger variations, an EGM or AGM will be held.

Can anyone join the BID?
BID members are formed of BID levy payers, which requires you to be a rateable business within a defined geographical boundary. Find out more about Reading Central BID area and Abbey Quarter BID area.

Who do I contact in an emergency?
Please download our emergency contact list for helpful contact information for town centre services. 

Can I promote or hold an event in Reading town centre?
REDA (the management company for Reading BID) manages promotional sites throughout Reading town centre, including Broad Street, Market Place, Town Hall Square and Reading Station. If you’d like to enquire about hosting an event or using promotional space in these areas, please get in touch.
Reading BID also holds a number of seasonal events throughout Reading town centre during the year, which may present opportunities for business. To find out more and stay up to date with all the latest in the BID, please sign up to our newsletter.