Mayor’s market fund to breathe new life into high streets
Mayor Richard Parker today unveiled plans to revitalise the region’s street markets with a £300,000 support package to expand the variety of stalls on offer and draw in more shoppers.
Action to help town and city centre high streets recapture their centuries old role as the beating heart of the local community has been set out in the mayor’s Growth Plan, a blueprint for reigniting the regional economy and raising living standards.
The mayor visited Wolverhampton’s historic city centre market to announce the new investment as a first step towards putting the buzz back into market days in towns and cities across the West Midlands.
The funding will be used to develop initiatives that breathe new life into marketplaces and support new and existing traders.
The Mayor said: “For centuries, street markets have been at the heart of our towns and cities. They’re hubs of local enterprise and I want more people to see them as launchpads for exciting careers and businesses.
“But it’s not just about the traders, it’s about the shoppers too. Visiting your local market means discovering fresh produce, unique products, and supporting homegrown local talent.
“I promised to back our markets and regenerate our high streets when I was elected, and this is just the start. My Growth Plan will keep driving the major investment local councils need to make our town and city centres vibrant and attractive places to visit. That means thriving markets, new shops, more homes, and better transport links.”
There are around 20 regular council-managed markets across the region.
As part of the mayor’s Street Markets Catapult, councils will be able to offer new entrepreneurs free or discounted stalls on a short-term trial basis, helping the next generation of local businesses get a foothold.
The funding will back vital improvements to market facilities, from modernised stalls and additional power points to advertising campaigns and special events that will attract new waves of customers.
A pilot scheme will also see well-established traders given specialist business growth advice and a mentoring programme specifically for new street food sellers.
The direct investment into street markets is part of a wider support package set out in the Growth Plan for the everyday economy which employs more than 750,000 people – that’s nearly two-thirds (63%) of all jobs in the region.
Historical records show that a market has been held in Wolverhampton for more than 800 years.
Today’s market includes 20 cabins and 48 stalls selling a wide variety of produce, including fruit and vegetables, meat, fish, clothing, haberdashery, shoes, sportswear and jewellery.
It is one of three markets run by the City of Wolverhampton Council, the others are in Bilston and Wednesbury.
Cllr Stephen Simkins, leader of the City of Wolverhampton Council, said: “Our markets are the lifeblood of our city and town centres and we very much welcome this announcement.
“We will use the funding to bolster our existing package of support for new traders, and on a series of events and activities to further increase footfall across our three markets.”
The West Midlands Street Markets Catapult is funded with money secured by the mayor and the West Midlands Combined Authority (WMCA) from the UK Shared Prosperity Fund.
The scheme will be delivered in partnership with Business Growth West Midlands (BGWM) and councils in Birmingham, Coventry, Dudley, Sandwell, Solihull, Walsall, Wolverhampton.