Economic Recovery Fund

About the Fund

The Economic Recovery Fund (ERF) ran between February 2021 and April 2025. It was a unique, innovative grant fund that aimed to support local economic recovery in local high streets by empowering local groups of businesses to implement changes themselves. The Fund’s objectives were:

• To help build the foundations for economic renewal across Sheffield by investing in communities and high streets, helping to build resilience to the cost-of-living crisis and future economic challenges.
• To make high streets and local centres feel safe and welcoming, so that residents want to spend time and shop there.
• To encourage businesses and groups to work together on ideas to improve their high streets, and bring new energy to those that already are.
• To support high street businesses to work with their communities and leave a lasting legacy of community infrastructure that can continue to thrive once projects are complete.

These were purposely broad so that applicants could develop their own ideas to fit local circumstances and needs. The Economic Recovery Fund aimed to empower local communities to identify and deliver the solutions that were right for their neighbourhood. As a result of this approach, the programme saw local businesses take on new roles in their communities, forge new connections and make changes that their communities welcomed.

What ERF achieved

Partnerships of businesses and local organisations could apply for funding for up to £50k for a small project or £50k - £200k for a larger project. The first round of funding was launched in March 2021 and 26 projects were given funding.  A second round was launched in February 2023 which supported 23 projects.  The Fund closed in April 2025.  The 49 projects were supported across the city were:

Follow each link to read a short summary of each project in ERF1 and ERF2.  Explore the types of activity delivered across ERF on this site’s other pages.

The ERF had a positive impact on the city.  The programme made tangible improvements to high streets and stimulated a wide variety of well received community actions and activities.  It empowered community and business groups and helped local people see their high street in a different light.  Its bottom-up, collaborative community led approach was a key strength and has laid a foundation for future partnership working.

Evaluations of each round showed the positive impact the Fund had:

• Round 1 - £4m impact and £2.20 social return on investment
• Round 2 - £7.4m impact and £3.60 social return on investment
• Across both rounds hundreds of outputs have been delivered across the city, including:
  • 170 new pieces of street art, adding vibrancy and colour to high streets
  • Nearly 100 events to give people a reason to visit their local high street and see it in a positive light
  • Branding and marketing across 20 areas to raise the profile of the high street and encourage people to spend in local independent businesses
  • Over 700 items of street furniture installed and green spaces improved to improve perceptions and make high streets feel more welcoming
  • Over 100 shop fronts improved
  • 8 new business forums created
  • 25 ‘other’ unique and ambitious ideas including: a green wall (Broomhill), 8 new orienteering routes (Chapeltown), a digital skills project focused on female sole traders (Spital Hill), a new parking scheme (Mosborough), the creation of borrow banks for business and community groups (Spital Hill and London Road).

You can read the evaluation from ERF1 here and for ERF2 here.