Small businesses across South Shropshire are being encouraged by Stuart Anderson MP to apply for support grants before a funding scheme closes to new applications on 10th January 2025. Grants of between £2,000 and £10,000 are available for small and medium sized businesses that have been trading for more than six months.
Over £12 million has been allocated to Shropshire from the UK Shared Prosperity Fund (UKSPF), which the last government created with £2.6 billion to invest in initiatives that improve pride in place and increase life chances across the UK. This includes the UKSPF Small Business Grant Scheme in Shropshire.
The scheme helps businesses employing between 1 and 49 workers with up to 50% towards the cost of purchasing new equipment or making improvements to their premises. Applicants will need to demonstrate how the grant will help them create new employment opportunities, or develop new products, processes, or services within their business.
The UKSPF Small Business Grant Scheme is one of the initiatives promoted on Stuart's Business Support Finder. This signposts a range of grants, tax reliefs, and competitions that local businesses may be eligible to apply for. 63 Shropshire businesses have already been approved - with nearly £100,000 funding awarded in the latest round of applications. With plenty of grant funding left to be allocated, Stuart is urging local businesses to explore the support available.
Stuart is promoting the scheme as part of his long-term campaign to unlock prosperity across South Shropshire. In September, he called for an extension to the Fund. At the Autumn Budget, the government announced it will continue the Fund until 2026, although at a reduced level of £900 million.
Stuart Anderson said:
“The UK Shared Prosperity Fund, created by the last government, has helped people across the country to access new opportunities. More than £12 million has so far been allocated to Shropshire for a range of initiatives, including the Small Business Grant Scheme. With funding still available, I would encourage businesses across South Shropshire to apply for the support with the purchase capital equipment or to undertake improvements to business premises before 10th January. My Business Support Finder showcases a wider range of support to help local businesses grow as the new year begins."
Businesses from one to 49 employees can apply for a grant if their business is physically located in the Shropshire Council local authority area. They will also be expected to match-fund the amount of grant applied for by at least 50% of the total investment.
Details about how to apply and the Expression of Interest (EOI) form can be found at https://next.shropshire.gov.uk/ukspf-capgranteoi. Anyone with any questions or queries about applying should email [email protected].
