BIDS use the collective power of retailers in a precinct to drive the needs of each area. A benefit area is defined and all businesses in that area are surveyed and asked what services and projects (over and above Council services) would have a positive impact on their businesses.
The survey results are collated and the projects identified by the business community are integrated into a Business Plan Proposal and presented back to all businesses for their feedback. Meetings, workshops and interviews are also conducted to engage businesses.
The businesses are then asked to vote for or against adopting the Business Plan Proposal as their roadmap for the next five years. If the businesses vote in favour of the Proposal it becomes the official and legally binding Business Plan and Budget for their area.
The businesses share the costs of delivering the Plan and receive the business benefits derived from the program. In five years time the process is repeated and businesses must vote again. Over 90% of the 3000 programs worldwide have been renewed for two – three terms.
The benefits include * better business engagement, * programs that benefit customers and businesses, * healthy mainstreets, * benefits for Council and property owners, * funding is guaranteed, * programs are delivered for the short term and long term.