Published on: October 12, 2023
The lead authorities for the UK Shared Prosperity Fund (UKSPF) across the country continue to deliver local initiatives in the second year of the programme, which aims to support areas historically underrepresented in terms of economic growth.
The UKSPF’s approach of granting local authorities and communities greater control over funding decisions recognises that what works in one region may not be suitable for another, and that local input is crucial to tailoring investment to local needs.
There are currently more than 170 UKSPF-backed funding opportunities to support projects across the UK including initiatives such as the regeneration of high streets, improving community infrastructure, or helping more people into employment.
As an example, North Warwickshire Borough Council is inviting applications for projects to build pride in place, support high quality skills training, support pay, employment and productivity growth, and increase life chances.
Elsewhere, other councils have also issued calls for projects seeking funding through the UKSPF. Hull City Council has been allocated £9 million to spend on local investment, and there are opportunities through Neath Port Talbot Council, which is utilising its £27.3 million allocation to deliver a number of grant schemes to support businesses and voluntary and community groups.
The second-year rollout of the UKSPF represents a key moment in the UK Government’s plan to strengthen local economies and create opportunities for businesses, individuals and communities alike. Local authorities will be able to deploy their UKSPF allocations into a third and final year of the programme, with supported projects required to conclude by March 2025.
Prospective UKSPF applicants are reminded that funding applications are time consuming, require significant research and preparation, and of course come with no guarantee of success. Before deciding to complete a UKSPF application, those interested in making a submission should read the guidance notes carefully to confirm that any proposed project can meet the programme objectives.
Interested parties should consult the website of their local authority for information about UKSPF delivery in their area.