A recent article published by In-Cumbria has highlighted the growing role that Business Improvement Districts (BIDs) play in supporting local economies, championing businesses and helping towns adapt to changing economic challenges.
For Penrith BID, it’s a timely reminder of why the organisation exists, and the important role it continues to play in supporting businesses across Penrith’s industrial estates and business parks.
Business Improvement Districts are business-led organisations funded by levy-paying businesses within a defined area. Their purpose is to deliver projects, services and improvements that directly benefit the local business community and economy.
Since its launch in 2018, Penrith BID has worked collaboratively with businesses and local partners to strengthen the area as a place to work, invest and grow.
Supporting local businesses
Penrith BID’s work focuses on practical initiatives that help businesses thrive, including:
- Representing business interests at local and regional level
- Supporting investment and economic growth
- Promoting local opportunities, events and training
- Encouraging collaboration between businesses
- Raising the profile of Penrith as a business destination
The BID also plays an important advocacy role, helping ensure the voice of local businesses is heard on issues affecting the area, from infrastructure and transport to economic development and investment.
A stronger voice together
As Cumbria continues to evolve through new regional partnerships and economic growth strategies, collaboration between businesses is becoming increasingly important. Recent county-wide initiatives have focused heavily on attracting investment, supporting sustainable growth and strengthening Cumbria’s economic future.
BIDs help create a stronger collective voice for businesses and enable projects that may not otherwise happen through individual efforts alone.
For Penrith BID, the goal remains clear: supporting a thriving, resilient and connected business community that benefits both local companies and the wider area.
🔗 Read the original In-Cumbria article here