Lincoln BIG receives national accreditation for Business Improvement Districts.
Lincoln BIG has been recognised for its high standards and received a national accreditation for Business Improvement Districts.
The BID Foundation’s Industry Standards was awarded to Lincoln BIG in recognition of its standards of transparency and responsible governance, following an independent review process.
The BID Foundation, a group of over 75 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.
Lincoln BIG 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.
Lee Roberts, Head of Operations, Lincoln BIG said “I am delighted to share that we have been awarded this national accreditation, recognising our commitment to high standards and our dedication to enhancing our city centre. This accreditation affirms that Lincoln BIG is operating in an open and transparent way that aligns with national standards.
The accreditation confirms our commitment to openness and transparency, and we continually strive to ensure that we operate in an open and transparent way and that this is applied in all projects that the BID delivers
It is important to have this accreditation as a formal, independently-assessed recognition of the work we do on behalf of our members, especially as we begin the ballot process leading to vote of our city centre businesses in November that will determine whether we receive support for a fifth BID term of five years covering the period 2025 to 2030, we felt it was important to demonstrate to member businesses that we follow recommended best practices and 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.
Michele Wilby, Co-Chair of 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 to provide support to thousands of local businesses since their inception over 20 years ago
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.
Find out more about The BID Foundation
https://placemanagement.org/the-bid-foundation/
Find out more about the Industry Standards
https://placemanagement.org/the-bid-foundation/industry-standards/
The BID Foundation is the professional body for Business Improvement Districts (BIDs) in the UK, setup to lead the evolution of the industry.
