Shrewsbury BID has been recognised for its high standards and received a national accreditation for Business Improvement Districts.
The BID Foundation’s Industry Standards was awarded to Shrewsbury BID in recognition of its standards of transparency and responsible governance, following an independent review process.
The BID Foundation, a group of 95 Business Improvement Districts including Shrewsbury BID, has developed the Industry Standards for all BIDs with input from UK government and other national bodies. The standards highlight information and documentation that should be made publicly accessible and easily identifiable by every BID.
Shrewsbury BID has passed the Industry Standards accreditation by demonstrating the high standards of aspects including its business plan, governance mechanisms and reporting, Directors and personal interests, and detail on ballot results.
Mike Matthews, Chair of Shrewsbury BID, said: “We are delighted to have been recognised for meeting these high standards, and the accreditation is testament to the hard work and professionalism of our team.
“I would also like to thank our voluntary board of directors who are integral to our work promoting and supporting businesses here in Shrewsbury.”
Introducing industry standards for BIDs was a recommendation of research into the BID sector and its development in the UK, published in 2020 by the Institute of Place Management.
Bill Addy, Chair of The BID Foundation Council and Chief Executive of the Liverpool BID Company, said:
“This is a crucial piece of work to support BIDs. The Industry Standards further demonstrate the professionalism of BIDs that adopt them, and of the wider sector, which has stepped forward through the pandemic and now during recovery to provide support to thousands of local businesses.”
The Industry Standards are awarded following a review process conducted by The BID Foundation, which is delivered with the support of the Institute of Place Management, the professional body for place managers and leaders, based at Manchester Metropolitan University.
The BID Foundation members have begun adoption of the standards, which award a kite mark to display to levy payers and other stakeholders.
