Report On The Role Of Business Improvement Districts |Tourism Industry
14 Pages5041 Words223 Views
Added on 2020-02-03
Report On The Role Of Business Improvement Districts |Tourism Industry
Added on 2020-02-03
ShareRelated Documents
E-Tourism
TABLE OF CONTENTINTRODUCTION ..........................................................................................................................3PART 1............................................................................................................................................3(A) The concept of a BID............................................................................................................3(B) The role of BID's in the strategic planning and leisure.........................................................5PART 2............................................................................................................................................8(A) Historical building used for tourism.....................................................................................8Current functions of the churchill war rooms.............................................................................9(B) Reuse of historic buildings in strategic tourism developments..........................................10CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTION Business improvement districts (BID's) are systematic organization build and formed byprivate property owners and businesses within bounded by legally constituted districts. Thereport has its focus on the role which the Business improvement districts (BID's) are playing inthe area of tourism and leisure industry. The Business improvement districts (BID's) applyvarious concept for strategic planning to increase the level of businesses within the locality. The concept of the Business improvement districts (BID's) try to explain its origin andthe need of BID's for the society. Discussion on the various factors will make an easyunderstanding on the positive and negative influences arised because of the Businessimprovement districts (BID's). Historical the Churchill war rooms is explained with its currentfunctions and the benefits which it giving to local, social and economical environment.PART 1(A) The concept of a BIDThe concept of business improvement district (BID) refers as a defined area where levy ischarged on businesses or where all the businesses need to pay additional tax or levy. Thisadditional tax or levy is charged for development of the projects in order to fund them around thedistrict boundaries. The legalities, rules and regulation use in forming BID is varies state to state.The BID is not funded only by tax or levy but also other public and private funding streams areused in BID for the development purpose (Lee, 2016). Around 250 business improvement district already established around the UK over adecade. The guiding principles produced by BID provides industries a 'voluntary code ofconduct' which works for setting the parameters so that equal importance of new location refer aBID well for the sack of establishing a BID companies. Generally bid consider as a body whichlead and funded by the various business to developing and improving a defined commercial area.BID's also consider by various name such as Business improvement area (BIA), Businessrevitalization zone (BRZ), Community improvement district (CID), Special services area (SSA)and Special improvement district (SID). The districts fall under BID are typically funded bybusinesses and performed in an unorganized manner by the government with its existing taxrevenues, these services are cleaning street, providing the security, making capitalimprovements, construction of pedestrian and enhancing the streetscape.(Houstoun, 2003)
Some of the BID's are independently performed without the support of local governmentthese have almost complete autonomy in financing, managing and constructing the specificproject, whereas others are dependent on the local government created only for the sake ofgenerating revenues for the specific project.In the context of business improvement district there is no limit on what or which projectand service provided by a business improvement district the only mandatory and essentialrequirement is that something should add some value in the services which are offered by thelocal authorities. Improvement as a value addition can be additional safety/security, hygienicenvironmental measures. Previously Business improvement district fall within a local authorityboundaries but after 2013 government initiate 'Cross boundary business improvement districts'which facilitates business improvement districts to start operating out of the local authority area. The first ever bid is presented in the Canada in the year 1970, after that they outspread allacross the globe administrating the public and private conglomeration that increase the return ofthe profit in the mode of marketing, enhancement and space for the trading activity. Governmentof UK took a very big step in October 2013 for helping those who want to develop the businessimprovement district by providing 500,000 pound fund for loan.(Ward, 2006) Business improvement district has its own capabilities such as arranging services andextra security for public spaces and private businesses, enhancing the down-town businesses,genrate funding for capital adequacy, alteration or renovation of the infrastructure so thatbusiness can be enhanced. Researching, collecting and analysing the economic and demographicdata so that promotion activities can be increase in the area of business. Launching andassimilate planning efforts, Permitting BID to testing with innovative practices, Increase the paceof the system so that strategies can be implemented at a faster rate. In UK BID first came into the existence in England and Wales a put into the system bylegislation in 2004. The first pilot BID set up by five year schemes financed by the Londondevelopment agency. The augmentation of the BID's regulation took place by the systematic co-ordinated pilot talking shops in 22 locations of England and Wales. The development pace washigh in London as of 2007 there were 36 planned and ready to work BID's are there, till February2017 there were 270 BID's are there which considered as operational.There are some regulations which are used in the legislation of Business improvementdistrict. 5 years is the maximum period for the charging of levy and tax on the BID's. Once the 5
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Strategic Planning for Tourism and Leisure- Doclg...
|17
|5908
|286
Strategic Planning for Tourism and Leisure: Role of BIDs and Historic Buildingslg...
|18
|4643
|68
Assignment Strategic Planning for Tourism and Leisurelg...
|16
|5866
|237
Relationship between event and tourismlg...
|22
|5704
|32
Strategic Planning for Tourism and Leisure Assignmentlg...
|15
|5324
|248
Report On Strategic Planning Of Charlton Houselg...
|14
|5928
|65