Welcome to the Culture Mile BID – a district in the Square Mile brimming with cultural creativity, commercial vibrancy and a strong sense of community.
We are delighted that the local business community has voted in favour of a new Business Improvement District for the Culture Mile area in the City of London.
Local businesses have voted overwhelmingly in favour of creating a new Business Improvement District (BID) in the Culture Mile area of the City of London securing investment plans totalling more than £9m over the next five years. Driven by the private sector, the Culture Mile BID will go live in April for a first five-year term, delivering a range of ambitious projects including major public realm enhancements, agenda-setting green and climate resilience initiatives and high-profile destination marketing campaigns.
There are more than 300 BIDs across the UK, over 70 in London, and currently four in the City of London, as more areas recognise that BIDs can turn collective will into collective action.
A BID is a legally and geographically defined business-led partnership for area improvement and service delivery, funded by the levy-paying businesses within an agreed boundary.
Following a ballot of all the rate paying businesses above a proposed threshold in the area, in which at least half of these vote to create a BID, a BID is formed. All businesses that are eligible to vote then contribute a levy (based on a small percentage of their business rate contributions) to support the operational and delivery costs of the BID and its initiatives. BID levy money is ring-fenced for use only in the BID area, and businesses decide and direct what they want for the area.
Should businesses choose to establish a BID in the Culture Mile Quarter area then the five BIDs across the City will generate an aggregate BID levy income of around £9m per year.
A future Culture Mile BID will:
- Contribute to the Square Mile’s recovery from the pandemic through creating a place to which the talented workers on which business depend are attracted and retained.
- Create a cultural destination for workers, visitors and residents by showcasing outstanding creative experiences and which reflect and amplify the area’s remarkable heritage.
- Build a connected and inclusive sense of community and opportunity among businesses in this part of the City.
- Eligible businesses will be balloted on the proposal to establish a BID in early 2023 and pending a successful ballot outcome the new BID will ‘go live’ in April 2023.
- Between now and the ballot the partners driving the BID proposal will be engaging with the business community and articulating what a future BID would deliver for the area and how it will benefit businesses.
The Culture Mile Area
Listening to the community
Although by their nature BIDs are business led and business funded, many BIDs recognise the inherent value and importance of working closely with all parts of the local community. The Culture Mile area benefits from having a diverse mix of businesses and vibrant residential communities: the largest concentration in the whole of the Square Mile. Residents are important to us, and the proposed Culture Mile BID is committed to working with residents, community groups and other local stakeholders, with a view to embracing the collective drive and ambition this sort of partnership working can deliver.
The legislation that governs BIDs does not give residents a formal vote in the ballot, nor do they pay into the BID, however this does not mean residents won’t have a voice or benefit from the existence of the BID – quite the opposite. The Culture Mile Partnership has already started the dialogue with residents, ward members and other community groups and we will continue to develop new ways of working, which could be implemented once the new BID is established. If you have any feedback as to how this partnership working could develop please get in touch.
The BID proposal
The draft BID proposal has been developed based on the findings of the Perception Analysis and ongoing discussions with partners and community stakeholders. It can be downloaded here. It will be considered by the City of London Corporation, as BID Proposer, at Committee on 20th October 2022.
Download the proposal
BID Billing Leaflet
Find out what we’re up to next and read Culture Mile BID’s Billing Leaflet 2023/24 for an overview of our projects and expenditure.
Download billing leaflet
Perception Analysis
The proposed Culture Mile BID is shaped by the business community and engagement with wider stakeholders. In preparing the BID proposal, a Perception Analysis survey has been carried out to ask future levy payers what they would like the BID to focus on and to identify priority projects and themes. The results of this survey have fed into the BID proposal, which is currently being finalised.
Download perception analysis
Partners
A partnership board is driving the BID proposal. The board is made up of business leaders united in their belief that this new BID has the potential to transform this part of central London into an even better place to live, visit
and work. This Board includes:
What’s going on in the Culture Mile?
Click here for our latest events and offers, we’re certain to have something for you to enjoy!
Download events list
Culture Mile Community Fund
“Collaboration, Diversity and Community – the bedrock of our BID”
The Culture Mile BID – a district in the Square Mile brimming with cultural creativity, commercial vibrancy and a strong sense of community – is delighted to launch its first community fund with ActionFunder. Through this community fund, we seek to support a breadth of local projects that drive positive social impact in the local community.
The fund of £60,000 will provide individual grants of up to £5000 to Community Groups, Registered Charities and Social Enterprises for projects and schemes that will bring positive benefits to the community within the Culture Mile BID footprint.
Applications should be made through the ActionFunder platform, for more information or to apply click here.
Please note that applications for this year’s fund are now closed. Look out for news coming soon on the fantastic local projects the Culture Mile BID will be supporting.
A new Business Improvement District for the Culture Mile
We are delighted that the local business community has voted in favour of a new Business Improvement District for the Culture Mile area in the City of London.
Local businesses have voted overwhelmingly in favour of creating a new Business Improvement District (BID) in the Culture Mile area of the City of London securing investment plans totalling more than £9m over the next five years. Driven by the private sector, the Culture Mile BID will go live in April for a first five-year term, delivering a range of ambitious projects including major public realm enhancements, agenda-setting green and climate resilience initiatives and high-profile destination marketing campaigns. The Culture Mile BID will join the four BIDs already established in the City, Cheapside Business Alliance, EC BID, Fleet Street Quarter and Aldgate Connect BID. In the Culture Mile Partnership, of those businesses that voted, 85% voted ‘yes’ at the ballot (88% by rateable value). The ballot results are a strong endorsement of the work of BIDs across the Square Mile and London, where now there are more than 70. The City of London Corporation, as BID proposer across the Square Mile, is committed to supporting the development of BIDs and looks forward to working collaboratively with businesses to deliver on their aims and aspirations for a diverse, inclusive, and sustainable community, providing the platform for businesses to continue to evolve and flourish. The BID team will now work with the City Corporation and other partners to deliver the ambitious business plans which were published in advance of the ballots being held. Visit the website for more updates on the BID’s work.
Download the proposal