LeedsBID one of the first to be awarded an industry standards kitemark

The new standards, developed by The BID Foundation alongside governments and BIDs, encourage transparency and responsible governance in the sector.

Helping to inform levy payers and other stakeholders, the set of 11 industry standards cover key aspects of a BID’s structure and operations including its business plan, governance mechanisms and reporting, Directors and personal interests, and detail on ballot results.

LeedsBID Chief Executive Andrew Cooper, who is also Co-Vice Chair of The BID Foundation, 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 LeedsBID, and we have been pleased to have been part of this initiative.”

The BID Foundation, a group of 95 Business Improvement Districts including LeedsBID, has developed the Industry Standards for all BIDs, highlighting information and documentation that should be made publicly accessible and easily identifiable by every BID.

Meanwhile, LeedsBID has also announced that it has retained its Living Wage Accreditation for another year, which it was first awarded in 2016.

The real Living Wage rate for the UK is an hourly rate set independently and updated annually, calculated according to the basic cost of living in Britain. It currently stands at £9.50 across the UK (£10.85 London rate). It is different and higher than the ‘national living wage’ introduced by the government.

Employers choose to pay this wage on a voluntary basis and it encourages those employers that can afford to do so to ensure their employees earn a wage which meets the cost of living, and not just the government minimum.

LeedsBID is among 7,000 Living wage employers across the country including 2/5 of the FTSE 100 and many well-known household names.

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