City Business Improvement Districts
What is a Business Improvement District (BID)?
A Business Improvement District (BID) is a business led, business funded organisation established through a formal ballot to deliver agreed improvements within a defined geographical area. These improvements are financed primarily through a levy on business ratepayers, calculated according to rateable value. While the levy forms the core funding, BIDs may also secure additional public and private investment to support projects that enhance the local environment and provide services beyond those delivered by the local authority.
The City BIDs deliver targeted projects and programmes that strengthen the local business environment. Their work is informed by local business insights, complements the services delivered by the City of London Corporation and is aligned to the City Corporation’s strategic priorities as set out in the Policy Baseline .
The Square Mile is currently home to five business improvement districts and the City River Partnership.
The Aldgate Connect BID has its roots in the Aldgate Partnership established in 2014 to improve the business environment in the Aldgate area. In April 2020 after a successful ballot, it began operating as a business improvement district and received a renewed mandate in 2025 after a positive renewal ballot. The BID has four areas of focus: making the district more appealing; shaping a safer Aldgate; creating a connected community; and welcoming people in. The Aldgate Connect is the City Corporation’s only cross-boundary BID, with approximately a third of the BID area located in the London Borough of Tower Hamlets.
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The Cheapside Business Alliance (CBA) was established in 2015 with the aim of making Cheapside one of London’s leading retail and business locations. It became a BID in 2020 and a successful renewal ballot for a second term was successfully concluded in 2025 with a fresh programme guided by the local business community that is focussed on supporting a better environment, creating social impact, building a stronger business community and promoting a welcoming Cheapside.
The Culture Mile BID was launched in April 2023 to strengthen the Culture Mile District as a vibrant, sustainable and creative district in the heart of the City of London. The Culture Mile BID is home to iconic London landmarks such as the Guildhall, the Barbican, Smithfield Market, St Bart’s Hospital and Finsbury Circus. Guided by local business, the BID is implementing a dynamic programme of activities focussed on delivering a sustainable environment; connecting the business community; creating an inspiring place; and developing the district’s reputation as a cultural destination.
The Fleet Street Quarter, established in February 2022, has Fleet Street at its heart but includes other historic central London area such as Chancery Lane, Holborn, Ludgate Hill and New Street Square. Building on the District’s historic reputation as a hotbed of literacy endeavour, the BID’s key priorities include enhancing the area’s retail and leisure offer, improving traffic congestion for pedestrians, developing a business community and developing a brand identity for Fleet Street.
The Eastern part of the Square Mile’s footprint is undergoing massive change with eight million square feet of new floor space planned for an estimated 70,000 additional office workers over the next ten years. To maximise the benefits of this rapid development, the Eastern City BID was established in March 2022. The BID is focussed on enhancing security and resilience, transportation and pedestrian movement, freight consolidation, identity and branding, as well as the diversification of the business base.
The City River Partnership was established in 2024 to support businesses located in the City Riverside area which stretches from the Bazalgette Embankment to the Tower of London. Over time this part of the City has become disconnected from the Square Mile. The City River Partnership has a vision to restore this connection and increase investment and footfall to a historic part of the City of London. The City River Partnership is currently working with its businesses to develop a proposal for the establishment of a business improvement district.