Your Local Authority will need to assist you with setting up a Business Improvement District. Money is collected through a levy on business rates in the area. A BID is only valid for 5 years. It can take up to 2 years to set up a BID and has high initial costs (£100,000 to £500,000).
The levy funding can be used to lever further funding, for example, from public bodies. Funding could potentially be put towards a flood scheme to decrease risk to businesses and so improve trading conditions.