Background

In 2008 British BIDs launched an Industry Accreditation system aimed at formal BIDs to measure their quality management systems. The system focuses on ensuring that the BID’s stakeholders are satisfied that the BID is well managed, with strong governance arrangements in place and that it complies with the legislation and regulations that govern it.

The Impact Standard follows on from the success of the Accreditation system and concentrates on outputs and the way in which the work of the BID is recorded, analysed and reported to stakeholders. It is designed as a robust system to ensure the proper measurement of the impact that a BID may be having on its locality.

The Impact Standard

The Standard enables BIDs to ensure that they are properly analysing the services that they offer and then reporting outcomes to stakeholders in a format that is both meaningful and constructive.

A BID obtaining the Standard is able to display the Bb Impact Standard logo.

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Why is it important?

1. BIDs will be certain that, when providing and reporting on the impact of additional services, they are doing so in line with an industry standard
2. Stakeholders will be certain that any BID that has achieved the Standard is professionally assessing the delivery and impact of services, and reporting results in a meaningful way
3. Both BIDs and stakeholders will be assured that the BID is making a meaningful difference to businesses operating in the area

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Attaining the Standard

Only formal BIDs that have been trading for more than 12 months and have evidence of systems and reporting are eligible for certification.

The Certificate will need to be renewed every 3 years.

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The Standard

The Standard is split into four sections:

Theme 1: Financial

Budgeting principles
Budget setting procedures
Cost control measures
Monitoring of spend
‘Return on investment’ analysis

Theme 2: Operational Management

Contract monitoring and review processes
Supervision arrangements
Decision making processes

Theme 3: Performance Measurement

Targets and KPIs
Business/user surveys
360º scrutiny
Action planning processes

Theme 4: Reporting

Reporting of results
Annual Meetings
Annual Reports
General communications strategy

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The Process

The Standard is a four step process as follows:

Step 1: Application

An application form must be completed by the BID and submitted to British BIDs for approval to proceed with the Standard. It will set out certain essential components that any applicant must be able to satisfy.

Step 2: Self Assessment

Once the Application is approved, a questionnaire will need to be completed by the BID, including evidence of the systems and procedures as required.

Step 3: Assessment

An Assessor will be appointed by British BIDs to provide guidance and support throughout the process, including a review of the questionnaire and advice on any aspects that require further attention prior to progressing to Step 4.

Step 4: Certification

Following the Assessor’s recommendation on whether the recording methods, impact analyses and reporting systems comply with British BIDs standards it will be submitted to the Standards Board for certification.

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Fees

The fee will be a fixed price to include all aspects of the 4 step process. An invoice will be generated once an application form has been approved. Full payment is then required.

The fee will depend on the annual BID levy income as follows:

Annual BID Levy Income	Fee (Bb member)	Fee (Non-member)
Up to £200,000	£440 plus VAT	£550 plus VAT
£200,000 to £450,000	£480 plus VAT	£600 plus VAT
Over £450,000	£560 plus VAT	£700 plus VAT