The BID organizational structure is set up as a trade association, with its objectives, representatives and operational methods being decided upon by periodic elections and meetings.
All BID initiatives are first promoted by the businesses themselves. Business owners vote on the matter of joint investment in projects and other local services, in order to improve their commercial performance and their business environment.
There are two main areas of joint investment:
- Preservation and maintenance of the business areas.
- Proactive actions designed to expose the businesses to target audiences.
The BID Model
- The model is designed to create a new area of action and not to replace existing actions taken thus far by the individual businesses or the Municipality. This area offers a "new toolbox for businesses" – a sophisticated toolbox which is not plausible or worthwhile for single businesses.
• Unites businesses in working towards
for common goals
Allows the business area to compete more efficiently with market forces and to enjoy a larger market segment by creating more significant local marketing plans.
- Creates a powerful and focused "collective voice" that presents the interests of the businesses to the Municipality and government bodies.
- Finances focused projects and special events, in order to preserve the mutual customer base.
Helps leverage public and private resources in order to plan activities, develop projects and other commercial initiatives aimed at breathing life into the businesses.
- Creates "controlled" visibility in the design language of the businesses on the street, and allows for consolidation of additional advertising elements.