About

A BID is a business-led initiative where local businesses are invited to come together, in partnership, to make decisions and take action to improve their trading environment.

Through consultation, a range of projects and services are agreed and these are then voted upon by all the businesses in the proposed area. It is important to note that this in no way affects services already in place and funded by local Government. Any funds raised by the BID are in addition to those services already in place.

How will it work?

The income required to deliver a 5 year programme of investments within Otley’s BID area will be almost entirely drawn from the BID levy, collected on behalf of Otley BID by Leeds City Council.

A 1% levy will be charged to each business within the proposed Business Improvement District. For example: if your rateable value is £10,000 you will pay just £100 per year or £1.92 per week. That £1.92 per week will be contributing to a yearly BID income of over £75,000.

Who Decides?

YOU! If you have a business within the proposed BID area you will be invited to vote on whether or not to renew our Business Improvement District in Otley. The renewal ballot will be held from 13th October to 10th November 2023 and, for the proposal to be approved, to tests must be met:

• More than 50% of those voting must vote YES.
• Those YES votes have to represent more than 50% of the total rateable Value of all cast.

Who Will Manage The Funds?

Once a second YES vote is secured the management and operation of the Otley BID will once again be undertaken by a company limited by Guarantee – Otley BID Ltd.

All members of Otley BID are eligible to join the board of Directors (subject to a member vote of approval). The Otley BID board completely controls the funding and activities in the BID area.

To read more visit The Business Improvement Districts (England) Regulations 2004.

Looking to the future, towns and cities close by such as Ilkley, Harrogate, Ripon and Bradford are also looking at implementing BIDs.

BIDs succeed because they are focused, entrepreneurial and cost efficient – providing a fast and powerful response to business needs.

Increasingly BIDs are becoming a means to move ahead of other locations, and businesses and consumers are choosing BID towns over their competitors.

Otley BID is proud to have been the first Business Improvement District established in the whole of West Yorkshire. Since April 2018 there have been 300 BIDs successfully setup in the UK and Ireland. These include neighbouring towns and cities such as Leeds, Bradford, Ilkley, Skipton, Wakefield, York and Keighley.

Successful BIDs have engaged with, and listened to, local businesses. This has left to a sense of ownership so when results are delivered everyone feels proud and benefits from the town’s achievements. The town is drawn closer together and the doors are flung open to new visitors.