LB Hackney commissioned PRD to develop and administer a new business grant fund for Hackney Central using Additional Restrictions Grant (ARG) funding that the council had received from central government. PRD had been working closely with Hackney Council on the development of the Hackney Central town centre strategy and we used our extensive research on the area’s communities and economy to shape the scope of the new grant fund. The aim of the fund was to support local businesses with Covid-19 recovery and to deliver exciting new projects for the town centre.

In January 2022, the Hackney Central Impact and Ideas Fund opened for applications, receiving almost 200 applications and over £3.5 million of funding requests. PRD led the assessment process and decided, in partnership with the council, on the projects that would be funded. The council awarded almost £600,000 to 23 local independent businesses.

Successful projects include free retail space for emerging fashion designers, a festival celebrating Caribbean culture, a 3D printing process using waste plastics and a walking map showcasing the borough’s history. PRD are now working with successful applicants to evaluate the impact of their projects.