About Oxted BID
The Oxted Business Improvement District (BID), also known as Love Oxted, was initiated in 2016.
WHAT IS A BID
A Business Improvement District (BID) is a business-led and business funded body formed to improve a defined commercial area.
The benefits of BIDs are wide-ranging…
- Businesses decide and direct what they want in their area
- Businesses are represented and have a voice in issues affecting their trading area
- BID levy money is ring-fenced for use only in the BID area
- Assist with increased footfall and spend
- Better work environment can help with staff retention
- Enhanced marketing and promotion
- Help in looking at infrastructure, pollution and movement in a BID area
- Guidance for businesses in place shaping vision activities
- Facilitated networking opportunities with neighbouring businesses
- Assistance in dealing with the Council, Police and other public bodies
Key Bid Facts
In the UK, the majority of BIDs exist in town and city centres.
The BID mechanism allows for a large degree of flexibility and as a result BIDs can vary in shape and size.
The average size of a BID is 300-400 hereditaments, with some of the smallest having fewer than 50 hereditaments and the largest at over 1,000. The Oxted BID is fairly small, with around 160-170 levy paying members.
The OXTED BID
- The OXTED BID incorporates all units in the town centre that have a rateable value and are in the defined area (the majority of Station Road East and Station Road West plus Ellice Road).
- The BID is funded by businesses in the BID area that pay the equivalent of 2% of their Business Rates in the form of a levy.
- The levy pays for the projects and ongoing activities as defined in the Business Plan and will be delivered over a five year period. See the Business Plan.
- The current period, as voted in by a majority in 2021 will end or renew in 2026.
For an update on current activities being undertaken by the BID, download the latest newsletter HERE:
