The Sleaford Business Improvement District (BID) is a five-year project. In 2007 the rate paying businesses in the town had the opportunity to vote on whether Sleaford should set up a BID. The YES vote was made in the autumn of 2007 and the Sleaford BID became operational in October 2007. At the end of the project, in 2012, local businesses will vote again on whether they wish to enter into another five-year period. The BID is funded by a mandatory annual levy of 1% of the rateable value on each business property in the BID area.

The BID is run by a Board made up of eight local business people who were elected by the levy payers and are levy payers themselves. The Chairman is one of these business people. In addition, on the Board there is a member and officer nominated by each of the Town Council, District Council, Lincolnshire County Council and Lincolnshire Chamber of Commerce (Sleaford area). The BID employs a Manager who manages the projects day to day and works with partners to deliver initiatives. The Board may also co-opt others with special knowledge or skills to assist them.

The Sleaford BID is committed to working towards three main priorities agreed by the businesses themselves and set out in the business plan, and include improvements to; Security, Marketing and Promotion, and Parking and Traffic Management.