Sheffield’s attempts to support local businesses and high street recovery has been boosted by the relaunch of the £2m high street investment fund.
The Economic Recovery Fund is a grant fund that supports local projects that meet the needs of the business community, including events, marketing, promotion, physical improvements, business creation, trader forms, or anything that applicants feel will benefit their high street.
The fund returns after first being launched in 2021 and has decided to be relaunched after the initial success of the project.
Applicants can apply for two different types of grant:
- The District Centre Fund – for projects centred around one or several specific high street areas. This fund offers grants of up to £200,000 for a large project, or up to £50,000 for a small one.
- The Flexible Fund – for projects that are considered city-wide and focused on numerous high street areas, or a whole sector. It is aimed at bringing forward new and innovative ideas that can benefit local businesses. This fund offers grants of up to £50,000.
People can request support with their application from Development Workers. They will support applicants to convene a project team, develop ideas and then write and submit an application. The assistance of the Application Development Worker can ensure businesses in Sheffield’s more deprived areas have a fairer chance of attracting funding.
Councillor Martin Smith, the Chair of the Economic Policy and Skills Committee and Economic Recovery Fund Steering Group, said: “After the success of the Economic Recovery Fund’s first round, we’re delighted to open the Fund back up to new teams and help them bring new life into their neighbourhoods or sectors.”
Applications will close on 30 April, and the team expects to let applicants know if they’ve been successful at the start of June, with funded projects beginning in the summer.
Anyone interested in applying can call 0114 224 5000, or e-mail recoveryfund@sheffield.gov.uk