Stamford Chamber of Trade and Commerce put on Art on Friday exhibitions in the town's Red Lion Square to attract more people to the area.
The group has been delighted to see so many milling around the square to admire the paintings and listening to the music throughout the summer.
Chairman Tim Lee says the initiative could be run into September and will be returning next year.
He said: "We think the people of Stamford and visitors have found it entertaining and the artists have also been very supportive."
One artist who has enjoyed being part of the event is Vanda Richards, 51, of Creeton Road, Little Bytham.
She said: "It has been very good and I have thoroughly enjoyed it, everyone is really friendly. It has been a nice atmosphere."
Fellow artist Judith Stafford, 65, of Creeton Road, Little Bytham, says this scheme is a great facility for artists.
She said: "The square has a bit of a buzz now. They spent all this money and it seemed rather quiet now it has livened up."
Manager of clothing store George Alan, Carol Auciello has noticed more people coming into the shop on a Friday but could not say if it has improved trade.
She said: "It is nice to see it being used and life being brought back into the square."
Jeweller John Dawson, a town councillor, has nothing against Art on a Friday but would prefer the square was returned to its original use as a car park.
He said: "I have nothing against it and think it's wonderful and I commend the people that have done it."
Red Lion Square and the Sheep Market were revamped as part of a £1.4m Gateway project. The chamber is also looking at plans to encourage peregrine falcons to nest in the area.