High Street Revive and Thrive Fund
A new fund has been created by Telford & Wrekin Council as part of its on-going commitment to work with local people to tackle the problems facing high streets everywhere.
The High Street Revive and Thrive Fund reflects the new pressures facing high street businesses following COVID and some of the lessons learned about how businesses can adapt and thrive even in the face of great challenges. It also offers new opportunities for people wanting to take their first steps into self-employment in the high street without taking on large risks.
There are different grants available which will be administered by the Pride in Our High Streets team. We ask that businesses discuss their personal circumstance with the team before making an application.
Application forms for all three grant funds are available directly from the team by emailing firstname.lastname@example.org.
There are three grants available and more details are below. Applicants may only make one application and this must be to a single fund.
This grant provides viability gap funding to businesses looking to open in a currently empty retail unit in the high streets of Dawley, Oakengates, Wellington and Newport. The aim of the grant is to bring empty retail premises back into use and the grant range is £2,500 to a maximum of £10,000.
Please note: In order to be eligible for this grant you must be aware of the following criteria and restrictions.
- Applicants must demonstrate a clear viability gap through their application form, business plan and cash flow forecast. Your application will also need to explain how you have established a need and demand for your business and how it will increase footfall to the high street.
- The grant will only fund franchise businesses in exceptional circumstances and will not fund franchises in the food and drink hospitality or beauty/hair sectors.
- The grant will not fund businesses that are located on the upper floors of buildings with no high street frontage unless they will be creating job numbers that will bring wider benefit to the high street.
- The grant will not fund any business that might duplicate or displace already established businesses. Please note: that any applications for businesses in the food and drink hospitality or beauty/hair sectors will be closely scrutinised as these are already well represented in most high streets. Businesses in these sectors will only be considered if the business owner can demonstrate a significantly different offer to existing businesses.
- No lease or licence should have been entered into prior to the awarding of grant. A lease or licence for a minimum of 3 years is required and evidence of the lease will be required before grant is released.
- Grant cannot be used to pay for rent, business rates or staff costs.
- Grant can be spent on set up costs including building refurbishment, fixtures and fittings, utility connection costs and business marketing/branding.
The recent crisis has demonstrated how important it is for a high street business to be able to adapt and diversify to survive. This grant is to help businesses to diversify in the future both to react to difficult times but also to capitalise on new opportunities.
It is available to high street businesses in Wellington, Oakengates, Dawley, Ironbridge, Newport and Madeley and will provide a range of funding from £500 to £4,000. It is available to high street businesses of all types and applicants will need to set out a clear proposal in a simple application form, describing the activity they want to undertake, what they require funding for and evidence that they have sought to establish best value through quotes.
Where applicable they will need to demonstrate that they have considered the marketplace for their new business activity and how they might develop it in the future. However bids will also be considered from businesses that have the potential to increase resilience by increasing operating efficiency or to expand their business through more effective marketing.
Because of the nature of this fund we cannot capture all eligible activity, but broadly the grant will pay for:
- training in a new practical or technical skill that will either diversify or make a business more resilient
- new equipment required for new product lines or for the operation of the business; this could include ICT hardware/software to allow for more effective operation or business marketing
- marketing collateral including improved signage, packaging or advertising and promotion costs.
The COVID crisis has resulted in many job losses and it may also have prompted people to think about a change in career direction and the option of self-employment in the form of a high street business.
A move into self-employment can be exciting but also challenging and this grant offers you the opportunity to test out your business idea with a high street pop up. This could be in the form of a pop up stall in one of the town’s historic markets such as Wellington or Newport or even in the form of a pop up in an empty retail unit. The grant is available in Wellington, Newport, Oakengates, Madeley, Dawley and Ironbridge.
The Council’s Business Support team will be able to provide you with plenty of training and advice about self-employment, and this grant will enable you to dip your toe in the water and establish if self-employment is for you and if your business idea is viable in the longer term.
The grant will provide a range of funding from £500 to £2,500. It is available to support business ideas of all types and applicants will need to set out a clear proposal in a simple application form, describing the activity they want to undertake, what they require funding for and evidence that they have sought to establish best value through quotes.
The grant will pay for rent for the period of the pop up trial, fixtures and fittings, a percentage of initial trading stock and marketing costs.
Please note: that the grant is not available to businesses that are already trading through markets or other outlets such as car boot sales.
The Pride in Our High Street team will be able to help with lists of empty units in Telford’s borough town high streets but may also be able to assist in locating pop up space, so it is worth discussing your pop up idea before submitting your grant application.
You will need to discuss your eligibility with the Pride in Our High Streets Project Team for the grants before you submit an application.
You can do this by submitting an online enquiry form.
Telephone: Joy McGeown 01952 383784
Last updated: 27/04/2021 14:31