Cathedral Quarter BID Achieves Quality Kitemark
Derby Cathedral Quarter Business Improvement District (BID) has become one of the first in the UK to be awarded a BID industry kitemark for the quality of its work.
The Cathedral Quarter BID, which was first established in 2008, is one of more than 300 business-led partnerships operating in the UK.
Its governance and quality have been scrutinised against 11 new standards which have been developed by The BID Foundation alongside governments and BIDs to encourage transparency and responsible governance in the sector.
The set of industry standards cover the key aspects of a BID’s structure and operations which will help to inform levy payers and stakeholders. These standards also include the BID business plan, governance reporting, Directors and personal interests as well as details on ballot results.
The BID Foundation, a group of 95 Business Improvement Districts, has developed the Industry Standards for all BIDs, highlighting information and documentation that should be made publicly accessible and easily identifiable by every BID.
The introduction of industry standards for BIDs was a recommendation of recent research into the BID sector and its development in the UK, published last year by the Institute of Place Management (IPM).
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 the last year to provide support to thousands of local businesses.”
Ashley Lewis, Senior BID Project Manager for the Cathedral Quarter Business Improvement District is also a member of the BID Foundation Council which sets the direction for the BID Foundation.
He said: “Business Improvement Districts operate for the benefit of the levy payers they serve, and these new Industry Standards set by The BID Foundation, give reassurance to levy payers that BIDs are transparent, open and professionally operated.
“These 11 standards were achieved by the Cathedral Quarter BID and we have been pleased to have been part of this initiative.”
For more information about the work of Derby Cathedral Quarter and the businesses included in the area, visit https://www.derbycathedralquarter.co.uk/