Governance
Led by businesses. Accountable to businesses.
The proposed Swindon BID would invest money contributed by local businesses. Clear oversight, responsible financial management and transparent reporting are central to the proposed approach.
If approved at ballot, the BID would be delivered by Swindon BID Limited, company number 17017311, in accordance with its Articles of Association, the approved business plan and the operating agreement with Swindon Borough Council.
Business Leadership
The proposal is currently being taken forward by a Shadow Board chaired by Laura James.
The proposed BID board would be drawn primarily from businesses across the Town Centre, Old Town, Railway Quarter and North Star, reflecting different sectors, business sizes and local priorities.
The board would oversee strategy, budgets, performance and risk, with day-to-day delivery managed within agreed responsibilities and spending limits.
Board membership, roles and relevant business affiliations would be published so businesses can see who represents them.
Responsible use of Bid Funds
BID income would fund the agreed business plan and the resources needed to deliver it.
The proposed governance framework includes approved budgets, regular financial reporting, clear spending authorisations and documented procurement procedures. Significant purchasing decisions would be recorded, with suppliers assessed for value for money and their ability to deliver.
Directors would be required to declare relevant interests, with conflicts recorded and managed through the company’s decision-making procedures.
Additional services and effective partnerships
The BID would work with Swindon Borough Council, the Police, businesses, landowners and other partners.
Agreed Council baseline services would be documented so that BID-funded activity can be identified and monitored as additional provision.
The Council would collect the BID levy on behalf of the BID company. The BID board would oversee the programme and spending in line with the approved business plan.
Clear reporting on delivery
Businesses should be able to understand what the BID has promised, how funds are being used and what is being achieved.
The proposed approach includes reporting on:
Levy income and expenditure.
Progress against the business plan and annual delivery priorities.
Project results and performance measures.
Priorities for the year ahead.
Appropriate governance documents, financial information and summaries of board decisions would be made available, subject to confidentiality and data protection requirements.