The BID Foundation's Industry Standards has been awarded to Ripon BID in recognition of its standards of transparency and responsible governance, following an independent review process.
The BID Foundation, a group of over 70 Business Improvement Districts, has developed the Industry Standards for all BIDs with input from UK government and other national bodies.
The Standards highlight information and documentation that should be made publicly accessible and easily identifiable by every BID, and are independently accredited by the Institute of Place Management.
Ripon BID has passed the Industry Standards accreditation by demonstrating the high standards of aspects including its business plan, governance mechanisms and reporting, Directors and personal interests, and detail on ballot results.
Lilla Bathurst, Manager at Ripon BID said:
“We are delighted that the BID has been awarded this prestigious accreditation.
"The BID team and the BID Board continually strive to ensure that we operate in an open and transparent way and that this transparency is applied in all projects that the BID delivers.
"Information including project evaluations, governance details and our Annual Review documents can be found on our website www.riponbid.co.uk.
"Feedback on the BID is always welcomed and can be given via email or in person at our offices. We will continue to work with the BID Foundation to ensure our procedures always meet national standards”.
Introducing industry standards for BIDs was a recommendation of research into the BID sector and its development in the UK, published in 2020 by the Institute of Place Management.
Matthew Davis, Director at the Institute of Place Management and The BID Foundation, 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 through the pandemic and now during recovery to provide support to thousands of local businesses.”
The Industry Standards are awarded following a review process conducted by The BID Foundation, which is delivered with the support of the Institute of Place Management, the professional body for place managers and leaders, based at Manchester Metropolitan University.
The BID Foundation members have begun adoption of the standards, which award a kite mark to display to levy payers and other stakeholders.
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