A Business Improvement District (BID) is a flexible funding mechanism to improve and manage a clearly defined commercial area. It is based on the principle of an additional levy on all defined ratepayers, following a majority vote. Following a successful vote, the levy becomes mandatory for all defined ratepayers.

The Truro BID is delivering a range of additional services and initiatives all designed to raise the profile of the city, attract more visitors and encourage them to explore all its facilities.

The BID is funded primarily through a nominal levy equivalent to 1% of rateable value on all properties that are within the District and have a rateable value of over £10,000. Truro’s BID became operational in October 2007 and over its five year lifespan is expected to generate £1.5 million of additional funding. There are over 400 businesses in Truro that are included in the scheme.


‘The BID scheme is undoubtedly the most significant boost that Truro business has received in decades'
Simon Hendra, Independent Retailer and owner of Lemon Street Market

‘I believe that the BID has breathed new life into Truro and encouraged more people to come into the City, especially true during Christmas when the City Centre was buzzing. The extra floral displays have made it a much better environment to work in and enjoy in the summer. I am sure that the majority of businesses are extremely happy with Truro BID's achievements which have helped trading throughout the year, important in the current economic climate'
Keith Parsons, Partner, KML Financial Services, Lemon Street

 

‘The Truro BID unites the 'small voice' and creates a business community with teeth. The BID is about delivery rather than debate and is therefore a good use of my time and money. The BID has also enabled me to get actively involved in events and activities that have a direct impact on my business. As an independent trader, the BID gives you a lot back for your money and really helps to promote your business. Having a single comprehensive website all about Truro is brilliant and a great opportunity for independent retailers to get noticed and raise their profile.'
Sam Parker, owner, The Artisan Cookshop, Truro

 

‘Truro's Business Improvement District has transformed the atmosphere in our city. We now have beautiful Christmas lights, a buzzing events programme and fantastic website, enjoytruro.co.uk. Two years into the life of the BID and Totally Truro has delivered so much, yet we've only just started unlocking Truro's potential. Totally Truro is the leading the positive changes taking place in our city and we're proud to be part of that'
Rachel Picken, mpad: marketing, public relations, advertising, design, Cathedral Lane

 

‘There is no doubt that the BID process, with the democratic support of the levy payers, has enabled Truro to do many things it would otherwise not have been able to stage; a website, numerous events & festivals and a ‘shopmobility' scheme in tandem with the voluntary sector. All these initiatives are aimed at increasing footfall for Truro, particularly important in current economic times'
Tony Welford, Chairman of Totally Truro and Partner, Stephens & Scown, Malpas Road