£2M high street investment fund relaunched

Press release by Sheffield City Council


The £2m Economic Recovery Fund is back and now accepting more applications from local businesses and community leaders to help improve local high streets and encourage residents to spend their time there.

The Economic Recovery Fund is a grant fund supporting local projects that meet the needs of the business community – such as events, marketing, promotion, physical improvements, creating new business and trader forms – or anything else applicants feel will benefit their high street.

The Fund was first launched in 2021 and has been brought back again this year following the project’s success.

Applicants have a choice of two funding pots to apply for:

  1. The District Centre Fund – for projects focused 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. 
  2. The Flexible Fund – for projects that may be city-wide, focused on lots of high street areas, or a whole sector. It is aimed at bringing forward new and innovative ideas that benefit local businesses. This fund offers grants of up to £50,000.

Applicants can request support with their application from an Application Development Worker. They will support prospective applicants to convene a project team, develop ideas and write and submit an application. It is hoped the assistance of the Application Development Worker will ensure businesses in the city’s more deprived neighbourhoods, who may face additional barriers to putting forward an application, have a fair chance to attract funding.

Cllr Martin Smith, 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. If you are interested in applying please contact the Economic Recovery Team as soon as possible. They will help you to develop your project, work out a budget and support you through the application process”.

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 is encouraged to contact the Economic Recovery Fund team for an early conversation about their ideas. The team can be reached on 0114 224 5000 or at recoveryfund@sheffield.gov.uk