What is a Business Improvement District (BID)?

A Business Improvement District (BID) is a not-for-profit, private, business-led organisation delivering a range of projects and services that support local businesses, their employees and visitors.

A BID is established following a formal ballot of eligible businesses and is renewed every term (usually every 5 years) subject to a successful re-ballot.

How is the Eastern City BID funded?

The Eastern City BID is funded through an annual BID Levy paid by eligible businesses within the district.

For the 2026/27 financial year (April–March):

The levy applies to properties with a rateable value of £500,000 or more
The levy is set at 1.077% of rateable value
Contributions are capped at £40,000 per hereditament per year
The levy generates approximately £4 million per year, which is reinvested directly into the district. This income is supplemented by voluntary landlord contributions and grant or match funding secured on a project-by-project basis.

For full levy details, please see the 2022–27 BID Proposal.

What area does the Eastern City BID cover?

The Eastern City BID covers a key part of the eastern Square Mile within the City of London, representing London’s central business district, and bringing together major commercial streets, landmark tall buildings, cultural destinations and historic areas.

The Eastern City BID is one of five BIDs operating in the City of London and works closely with neighbouring BIDs to ensure a coordinated approach to place management and business support. A detailed map of the BID boundary is available here.

What does the Eastern City BID do?

The BID delivers a targeted programme of activity across five core themes:

• Public Space Enhancements
• Community Safety
• Events & Cultural Activations
• Social Responsibility
• Area Promotion

These projects and services are designed to enhance the everyday experience of working in, visiting and investing in the Eastern City.

Am I still part of the BID if I voted ‘no’, abstained, or moved into the area after the ballot?

Yes. Once a BID is approved through a successful ballot, the levy becomes mandatory for all eligible businesses within the district.

As BID services benefit the area as a whole, it is fair that all eligible businesses contribute. If you are a levy payer, we are keen to ensure you understand how your levy is spent, benefit directly from BID services and clearly see the value delivered.

What governance structures are in place?

The Eastern City BID operates in accordance with the Business Improvement Districts (England) Regulations 2004.

The BID is run by an Executive Team overseen by a voluntary Board of Directors representing the local business community. The Board meets quarterly and is supported by Steering Groups aligned to the BID’s main project themes. These groups provide guidance, oversight and budget approval.

If you are interested in joining a Steering Group, please email info@easterncity.co.uk.

The BID publishes annual Delivery Plans outlining priorities and budgets, alongside detailed annual reports and audited accounts. All governance documents are publicly available here.

An Annual General Meeting is held each year, typically in September or October, to review performance, approve accounts and ratify Board appointments.

Is the BID part of the council?

No. A BID is entirely independent from the local authority and exists to deliver projects and services above and beyond those ordinarily provided.

The Eastern City BID works closely in partnership with the City of London Corporation and other public bodies, including Transport for London and the Greater London Authority.

How can I find out more or get involved?

To find out more or discuss how the BID can support your organisation, please contact Henry Johnstone, Chief Operating Officer, at henry@easterncity.co.uk. The team is always happy to arrange a Teams call or an in-person meeting.

You can also sign up to the Eastern City BID newsletter below.

How do I know if I’m a levy payer?

If you are unsure whether your business is liable for the BID Levy, please email henry@easterncity.co.uk and the team will be happy to confirm.