ONE of the inner west west’s most popular community events, which attracts more than 100,000 visitors, has been cancelled.

Glebe Chamber of Commerce has confirmed it will no longer run the annual Glebe Street Fair because it costs too much and is not benefiting its member businesses.

Dubbed Australia’s longest street fair, a one-kilometre section of busy Glebe Point Rd was blocked off on the third Sunday of November to allow live music performances, more than 230 street stalls, food outlets and talks.

It has been running for 33 years and even though more than 100,000 people visited the Fair last year, it still made a loss.

media_camera The Glebe Street Fair was one of the inner west’s most popular community events.

In 2015, the City of Sydney provided $35,000 to the Chamber for the Fair, but it still ended up $10,000 in the red due to bad weather.

Last year former Chamber president Kris Spann (pictured) asked the City to increase support because of concerns the event would operate at a loss.

In June the council voted to provide up to a maximum of $19,500 to the Chamber to help protect it against financial loss for the 2016 fair.

media_camera The Glebe Street Fair. Picture: Craig Wilson

Mr Spann said it ended up losing about $19,000.

He said the Chamber was not able to apply for the usual Festivals and Events grant for the fair due to a condition on the 2016 underwriting by Council which required a “review of the event” be conducted before receiving any further funding.

A City of Sydney spokesman said it has provided $10,000 to the Chamber to help it undertake the independent review of the festival to assess its financial viability.

“The City expects to receive a copy of the report in the coming months,” the spokesman said.

Current Chamber president Jenny Burn said the cost of running a street fair was “not viable in today’s climate” and the Chamber has not applied for any more funding from the Council.

“It’s not that we don’t like the event and don’t think it’s a wonderful thing, but one has to ask the question, if you’re supposed to be representing businesses, why are you undertaking a completely unprofitable business venture on their behalf,” Ms Burn said.

Organisers had to cover fixed costs of close to $100,000 to run the Fair including public liability insurance premiums, diverting bus services and waste collection.

Revenue came from charging stall holders a fee and a range of other commercial arrangements.

“Still we weren’t able to do it without the substantial sponsorship from the City and other sponsors,” Ms Burn said.

Last year private sponsors included Sydney City Toyota and Airbnb.

Ms Burn said the Chamber would support others who wanted to run the event in a different format.

“But it’s a poison chalice unless you completely cut it down and don’t close the street.

“The reason the Glebe Chamber of Commerce elected not to continue doing it was feedback from the businesses on Glebe Point Rd who weren’t getting enough out of it.

“Those small businesses are struggling enough as it is and they are not about to kick in for something for which they see little return.

“There were a lot of volunteers putting in a lot of effort for our flagship event each year that wasn’t actually generating the benefits to members for which the Chamber exists.”