A one-off Scottish Government grant of up to £20,000 will be available as 'seedcorn' funding for each new Business Improvement District project that comes forward (subject to qualification criteria). These modest but useful sums act as a catalyst to enable partnership working and the development of realistic BID Proposals that are likely to be attractive to local private and public sector stakeholders.
BIDs can help grow the local economy, stimulate investment, deliver on the wider regeneration aspirations of the public sector and create strong local partnerships with direction and vision. BIDs Scotland Director, Ian Davison Porter, commented: "The BID mechanism has huge potential to leverage significant additional investment, secure supporting revenue streams, and deliver local services."
The use of BIDs is not restricted to towns and cities. A BID can also focus on a particular sector rather than a district, such as tourism, agriculture, rural areas and single business sectors such as golf and whisky.
Grant funding is still available. Contact Ian Davison Porter to discuss the potential of the BIDs mechanism in your area.