News: Portas pot to provide financial support for Rotherham retailers
Retailers in Rotherham town centre who show the potential to grow and develop look set to access new financial support through the "Portas pilot" scheme.
Further details have been agreed that will see the £200,000 pot used to support current retailers with grants of up to £7,500 to help them undertake significant business development projects.
The council hope that this will enable eligible businesses to increase sales through expanding or improving their product offer, help with expansion or relocation plans that will be sustainable for the business in the longer term and allow for investments that will maintain sales to sustain businesses in profit.
It is hoped that 70 existing retailers will benefit from the new investment.
The project adds to the successful business vitality grants scheme that provides financial support to encourage new independent niche retail businesses to open up in the town centre.
The vitality grants also aim to reduce the number of vacant shops and grant support has been provided to 12 new businesses, with another approved by the council's cabinet member for regeneration and development last week.
The new Portas Pilot project, which combines funding secured in a competition from the government with match funding from British Land, is also set to be used to subsidise the cost of customer service training and bespoke, specialist advice on marketing strategies for eligible retailers.
In addition, grants of up to £1,000 are made available to retailers to carry out marketing activity.
Leading retail marketing consultant, Mary Portas, was impressed by Rotherham on a visit last year as she compiled her review of the High Street on behalf of the government. At the time she said: "I have seen a lot of new traders and they have been grateful to Rotherham Council for actually getting behind them. To bring new retailers back into town requires financial support, management support and business support, which I found quite inspiring."
Tim O'Connell, head of business and retail investment, said: "The Portas Pilot bid aimed to complement the support to new independents with a package of assistance targeted at existing retailers.
"The bid built on the "shop local" concept and emphasised the opportunity to build on an offer that was distinct - niche independent retailers with strength in personalised service, the "social experience and interaction" of shopping and value for money."
Mr O'Connell spoke positively about the project and the different retail offer that is being created in Rotherham town centre at a recent property forum organised by Rotherham Investment & Development Office (RiDO) and held at the New York Stadium.
He also discussed the regeneration possibilities in the town centre created by the new 110,000 sq ft Tesco Extra store that is set to open in 2014. Key projects will include ensuring that the adjacent markets benefit from the Tesco development, potentially through a redevelopment programme and the potential cinema-led redevelopment on Forge Island after Tesco move across town.
It was also revealed that Rotherham is the only town centre with a positive year on year increase in footfall for the last 15 months, from June 2011 to August 2012.
Rotherham Town Centre website
Images: RMBC
Further details have been agreed that will see the £200,000 pot used to support current retailers with grants of up to £7,500 to help them undertake significant business development projects.
The council hope that this will enable eligible businesses to increase sales through expanding or improving their product offer, help with expansion or relocation plans that will be sustainable for the business in the longer term and allow for investments that will maintain sales to sustain businesses in profit.
It is hoped that 70 existing retailers will benefit from the new investment.
The project adds to the successful business vitality grants scheme that provides financial support to encourage new independent niche retail businesses to open up in the town centre.
The vitality grants also aim to reduce the number of vacant shops and grant support has been provided to 12 new businesses, with another approved by the council's cabinet member for regeneration and development last week.
The new Portas Pilot project, which combines funding secured in a competition from the government with match funding from British Land, is also set to be used to subsidise the cost of customer service training and bespoke, specialist advice on marketing strategies for eligible retailers.
In addition, grants of up to £1,000 are made available to retailers to carry out marketing activity.
Leading retail marketing consultant, Mary Portas, was impressed by Rotherham on a visit last year as she compiled her review of the High Street on behalf of the government. At the time she said: "I have seen a lot of new traders and they have been grateful to Rotherham Council for actually getting behind them. To bring new retailers back into town requires financial support, management support and business support, which I found quite inspiring."
Tim O'Connell, head of business and retail investment, said: "The Portas Pilot bid aimed to complement the support to new independents with a package of assistance targeted at existing retailers.
"The bid built on the "shop local" concept and emphasised the opportunity to build on an offer that was distinct - niche independent retailers with strength in personalised service, the "social experience and interaction" of shopping and value for money."
Mr O'Connell spoke positively about the project and the different retail offer that is being created in Rotherham town centre at a recent property forum organised by Rotherham Investment & Development Office (RiDO) and held at the New York Stadium.
He also discussed the regeneration possibilities in the town centre created by the new 110,000 sq ft Tesco Extra store that is set to open in 2014. Key projects will include ensuring that the adjacent markets benefit from the Tesco development, potentially through a redevelopment programme and the potential cinema-led redevelopment on Forge Island after Tesco move across town.
It was also revealed that Rotherham is the only town centre with a positive year on year increase in footfall for the last 15 months, from June 2011 to August 2012.
Rotherham Town Centre website
Images: RMBC
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