The second round of applications is now open for the ReNew Sheffield business grant scheme. The scheme offers grants of up to £35,000 to independent businesses who want to transform empty shops and underused spaces in the ReNew Sheffield Zone.
The ReNew project is part of Sheffield City Council’s successful bid for £15.8m of funding from the Future High Street Fund (FHSF). This national government fund was set up to revitalise and reshape UK high streets.
Supported by the South Yorkshire Mayoral Combined Authority (SYMCA), the University of Sheffield, and other partners, the Sheffield Future High Street Fund Team is delivering a programme of transformational projects across Fargate and Chapel Walk to regenerate and reinvent the area as a thriving social hub.
ReNew contributes to this vision by awarding grants directly to businesses looking to occupy empty units in and around Fargate.
Complementing the larger-scale FHSF masterplan, the successful ReNew funded projects will help to lower vacancy rates, increase footfall and improve the vibrancy of the area. They will also create opportunities and jobs for the people of Sheffield.
Its the second round of ReNew Sheffield funding. Topped up by a contribution from Sheffield BID and the full £250,000 grant pot is set to be awarded to successful businesses.
The programme is a capital grant scheme and businesses can apply for funding of up to £35,000 towards agreed fit-out costs such as:
- architectural/design fees
- preparing the site for construction works
- checks and surveys
- labour costs
- materials
- renovation and/or conversion costs, eg plumbing, heating, electrical work, joinery, glazing
- fit out costs, eg flooring, security, decorating, signage, installation of fixtures and fittings such as kitchens, WCs, display units etc.
Eligible businesses will receive the grant once project costs are paid and valid proof is provided of that payment in the form of invoices and bank statements. Business must be able to pay project costs in full before receiving the agreed grant contribution, whether using your own funds, finance from a bank, or other commercial finance.
Eligibility
For your business to be able to qualify for support, all of the statements below must be true:
- You have an independent business in the retail, leisure, entertainment, recreation, creative, hospitality or food and drink sectors
- Your business is not in financial difficulty
- You can show that your project is financially viable and that grant support is needed to make it happen
- Your business has received less than £315,000 of state aid/subsidy (minus the grant amount applied for) over the current and previous two consecutive fiscal years
- You are able to secure a commercial lease on a vacant unit in the ReNew Sheffield Zone and intend to occupy it continuously for at least one year
- Your proposed schedule of works will be completed, and all expenditure incurred, before the end of March 2025
You should read these statements together with the full eligibility guidance and terms and conditions. Businesses are to be aware that they won’t be eligible for this grant if they have recieved previous funding from this scheme.
How to apply
If your business or organisation would like to be part of this transformation then please request an expression of interest (EOI) form and full guidance pack from renewsheffield@sheffield.gov.uk.
You can also contact us to discuss your project and enquire whether you’re eligible.
EOI forms must be submitted by email before midnight on 14 August 2024. Anything received after this date will not be accepted.
What happens next
Submissions will be evaluated against fixed criteria to determine which have the greatest potential to deliver a viable, sustainable project that will contribute to the wider aspirations for the Fargate area. The highest scoring applicants will then be asked to complete a full application form for submission on or before 22 September 2024.
For more information visit Regeneration of Fargate and High Street (welcometosheffield.co.uk.
