Greater Manchester Unveils £20m Fund to Transform High Streets

Available later this year, a £20million Good Growth High Street Fund will be made available to local businesses, business groups, and voluntary and community organisations across Greater Manchester to take forward ideas for improving their high street. It presents a significant opportunity to create more inclusive, resilient and community-led high streets across the city-region. To maximise its impact, we hope to see the Fund invest significantly in VCFSE organisations that deliver economic, social and health outcomes alongside commercial activity.

Why high streets matter

High streets play a significant role in reducing inequality. The Institute of Health Equity notes that effective interventions on highstreets have the potential to make communities more resilient and to deliver significant quality of life and health benefits to local populations, in particular those who are vulnerable and marginalised. But how is this the case?

The high street is a place where a diverse range of people can meet, come together and interact. This alone results in increased wellbeing, especially among older people and those experiencing loneliness or social isolation. By providing such a place within towns and neighbourhoods, barriers can be broken down, and cultural exchange can take place.

Thriving high streets with a diverse range of shops, business types and services means that public health services, for example, can become more accessible to a wider population, contributing to a reduction in health inequalities.  

Economically, more vibrant high streets provide local employment opportunities, often for people furthest from the labour market. This improves wellbeing, financial sustainability, and keeps job and wealth local.

The Role of VCFSE Organisations

We know that VCFSE organisations are key to building a more inclusive economy. Part of this is through supporting community ownership and social enterprise activity, where organisations reinvest their profits to further a social mission. Both have an important role to play in creating more resilient and community-led high streets. By resourcing VCFSE organisations, more community spaces can be brought into local ownership and used to meet local needs. This gives communities greater influence over the places where they live, spend time, work and connect.

Across Greater Manchester, social enterprises, the 'SE' in VCFSE, are already creating employment opportunities, supporting underserved communities, building community wealth and strengthening community resilience. Community ownership is a model where local people share control, decision-making and stakes in neighbourhood assets, resources and services. Its growth contributes to a more inclusive economy by giving power to local people and ensuring that the benefits of investment remain within communities.

The Fund is a great opportunity to unlock community-led regeneration and transform Greater Manchester's high streets. We hope to seethe new Fund support community ownership and social enterprises as approaches to delivering long-term economic, social and health benefits for local people and places.

The Good Growth High Street Fund

While full details of the Fund have yet to be announced, we understand that it will support ideas that contribute to good economic growh and help restore local pride.

We hope to see community ownership and social enterprise at the heart of the Fund's design, with success measured through social, economic and health outcomes rather than footfall alone.

Get involved in shaping Greater Manchester’s high streets

We also welcome plans for a new High Street Taskforce which aims to bring together local businesses and groups to help design these ambitious plans to bring empty shops back to life, to putting on vibrant events and boosting footfall. 

The Taskforce is now accepting expressions of interest. For more information and to get involved, visit Our High Streets - Greater Manchester Combined Authority or email GMCAEconomy@greatermanchester-ca.gov.uk