Business improvement districts: an opportunity for SME retailing

This article considers the implications of the introduction of legislation enabling the creation of the US concept of business improvement districts (BIDs) into the UK. Based on the US experience, it can be argued that local networks of small and medium‐sized retailers can benefit from establishing a BID in their immediate locale. A number of critical success factors for such BIDs are identified. These include strong leadership, a genuine desire for change, clarity of objectives and support from the local authority. The article concludes with a discussion of the advantages (and potential problem areas) of such localised SME retailer‐led BIDs.