Bankside businesses back Better Bankside BID renewal with overwhelming support

Better Bankside, one of the UK’s pioneering Business Improvement Districts (BIDs), has secured an emphatic mandate for its 2025-2030 term. In a recent ballot, 91% of participating Bankside businesses voted in favour of continuing the BID, securing £14 million in investment for the vibrant London area.

Prominent local institutions, including the Tate Modern, Borough Market, and Shakespeare’s Globe, were among the businesses participating in the vote. The result underscores growing confidence in the BID's transformative impact since its inception in 2004, with each successive term seeing increased support.

The ‘Say YES to Better’ BID manifesto which Bankside businesses voted for focused on three key pillars:

• Stronger: Enhancing Bankside’s economic resilience and the area’s appeal to a growing workforce.

• Greener: Implementing innovative initiatives to cut carbon emissions, reduce waste, improve air quality, and increase biodiversity.

• Happier: Supporting businesses’ Environmental, Social, and Governance (ESG) goals while fostering a sense of belonging and opportunity for the local community.

Specific projects will be co-designed with member businesses in early 2025.

Nicole Gordon, CEO of Better Bankside, expressed enthusiasm for the renewed term:

“We are thrilled to have such a strong backing from Bankside’s business community. The ballot has been an incredibly affirmative process, and the rich and meaningful conversations we’ve had with our diverse mix of businesses, will shape the programme for the next five years.”

Donald Hyslop, Chair of Better Bankside, highlighted the area’s evolution:

Over the last twenty years Bankside has seen huge change and growth and is one of London’s most vibrant districts. It has also remained true to its heritage as “London’s other side” continuing to attract a diverse range of businesses, communities and visitors. Partnerships, connections and conversations have been central to this success and we look forward to continuing our work, and making a difference, as we move forward in these challenging times.”

With 20 major developments in the pipeline and significant workforce growth projected by 2030, Better Bankside is poised to guide the area through a period of dynamic transformation. The BID’s focus on collaboration and local identity will help preserve Bankside’s cultural heritage while embracing change.

The new term, starting 1st April 2025, will be funded through a levy of 1.13% on businesses with a rateable value of £26,000 or more. This investment ensures continued progress in making Bankside an economically strong, environmentally sustainable, and socially vibrant destination.

Find out more at betterbankside.co.uk