Love Wimbledon was recently awarded a kitemark, a newly developed standard by The BID Foundation, to represent the achievement of high standards of quality and governance.
The BID Foundation, a group of 89 Business Improvement Districts (BIDs) that lead the evolution of the industry, has launched new guidance to help demonstrate and raise standards of governance and transparency in the sector.
Members who demonstrate adoption of these industry standards are awarded a kitemark, which can be displayed to levy payers and other stakeholders. Seven BIDs, including Love Wimbledon, have received this accreditation thus far, with nine others working actively towards it.
The set of 11 industry standards has been developed in consultation with BIDs, levy payer groups and policy makers, based on recommendations of recent research into the BID sector and its development in the UK, published last year by the Institute of Place Management. Helping to inform levy payers and other stakeholders, the standards cover key aspects of a BID’s structure and operations including its business plan, governance and reporting, directors, personal interests, and detail on ballot results.
The Industry Standards are awarded following an independent review process conducted by the Institute of Place Management, the professional body for place managers and leaders, based at Manchester Metropolitan University.
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 in 2020 to provide support to thousands of local businesses. The BID Foundation commissioned the ‘State-of-the-Art’ report in 2019 which identified the need for standards, and to continue to drive high performance. On behalf of The BID Foundation and its Members, we welcome their introduction”.
For more details on the launch of these standards, click here.