Hackney Central businesses boosted by £360,000 fund to help shape fair recovery
Supporting Hackney Central businesses in recovering from the coronavirus pandemic is at the heart of a £360,000 grant announced by Hackney Council today (Tuesday, 18 January).
The Hackney Central Impact and Ideas Fund has now opened, with businesses encouraged to apply for innovative small or large-scale projects which will enable them to build their economic and environmental resilience, as well as making a positive contribution to the town centre.
The fund has been developed to support the Council's work with local residents and businesses in Hackney Central to develop the Hackney Central plan - a blueprint which formed in 2019 when more than 2,000 people took part in the Hackney Central Conversation.
This funding is being delivered with PRD, a small socio-economic consultancy firm that specialises in town centre regeneration, who have been working with Hackney Council over the course of 2021 on the development of a town centre strategy for Hackney Central.
The Town Centre Strategy will set out a 10 year vision for Hackney Central including how the Council intends to work with the local community and partners to deliver on the priorities identified by Hackney Central’s residents, community groups and businesses. The strategy aims to ensure that local people are the first to benefit from the physical, social and cultural changes in Hackney Central over the next decade, and that economic development is inclusive.
We’re committed to supporting local businesses in recovering and rebuilding following the impact of the coronavirus pandemic. We need to support our businesses in dealing with a range of challenges, from attracting customers back, to meeting the issues created by struggling supply chains.
To support our micro and small businesses in being inclusive, innovative and resilient, while furthering the vital work being carried out in Hackney Central, we have developed the Hackney Central Impact and Ideas Fund.
This fund will help local businesses and organisations play an enhanced role in Hackney Central’s future and its recovery. It forms the first part of our Hackney Central plan, and we are looking to invest in the best local ideas to support a better and fairer recovery.
Businesses can apply to either the ‘ideas grant’ for projects up to £5,000 or the ‘impact grant’ for projects up to £50,000. The ‘ideas grant’ is for smaller-scale projects such as running one-off events, becoming more eco-friendly or making shop front improvements. While the ‘impact grant’ is for larger-scale projects such as creating a programme of events or launching a training scheme for disadvantaged groups.
Applications open on Tuesday, 18 January 2022 and must be made before the closing date of 9am on 14 February 2022 (with applicants notified of the outcome by early March 2022). Projects must start on or after 1 April 2022 and be completed no later than 31 December 2022.
The full details and application criteria for the fund can be found on our website.
- Using the Additional Restrictions Grant (ARG), funding that the Council received from the Government, £360,000 has been made available to support the development of the Hackney Central Plan.
- On 21 December 2021 the Chancellor of the Exchequer Rishi Sunak announced new business grant funding available in the coming weeks to support businesses in the hospitality, leisure and accommodation sectors as the UK tackles rising cases of the Omicron variant. In addition the Government announced a funding boost to the Additional Restrictions Grant (ARG) fund to support other businesses impacted by Omicron, such as businesses who supply the hospitality, leisure or accommodation sectors. Local Authorities will have discretion to allocate the ARG funding to businesses most in need in their local areas. More information is available here and the Council will be opening these grant funds as soon as possible.
- Further business support funding will also be made available, including borough-wide support for small or micro businesses in Hackney making changes or adaptations to their business to enable them to develop and thrive. This will be called the Adapt Your Business Programme.
- In December 2021 Hackney Council launched the High Streets and Town Centres fund. This £500,000 fund has been made available for eligible businesses to deliver projects that increase engagement, encourage spending and bolster recovery in our high streets and town centres. More information is available here.
- Earlier this year the Council launched Hello again, Hackney - a £400,000 fund to help the borough’s cultural institutions welcome back customers safely with special offers, discounted tickets and pop-up events.
- Further information on grants issued by Hackney Council during the coronavirus pandemic can be found on our website.