Business grants launched in West Lindsey

Business grants launched in West Lindsey

During 2022, the Council developed and submitted its’ UK Shared Prosperity Fund (UKSPF) and Rural England Prosperity Fund (REPF) Investment Plan.

The Investment Plan made provision for the West Lindsey Business Grant Programme which comprises of three main schemes, including capital and revenue grant provision to support business sustainability (under UK Shared Prosperity Fund), capital grants for non-agricultural farm diversification and capital and revenue grants for agri-tech business development (under Rural England Prosperity Fund and WLDC local funding).

Councillor Trevor Young, Leader of West Lindsey District Council said: “I am delighted to confirm the launch (on Monday 22nd May 2023 at 12:00 Noon), of our UKSPF/REPF business grant programme. The programme will support West Lindsey businesses to take advantage of diversification opportunities, improve commercial sustainability and evolve green infrastructure. The transition to a low carbon economy and rural/green growth are reflected as key local priorities in the current West Lindsey Economic Recovery Plan and Sustainability, Climate Change and Environment Strategy”.

Sally Grindrod-Smith, Director of Planning, Regeneration and Communities commented: “We are working closely with our grant administration partner NBV Enterprise Solutions Ltd, to offer grants to eligible businesses ranging from £1,000 to £15,000.

“The grants – allocated on a first come, first served basis (on receipt of an eligible Expression of Interest) are intended to be flexible in order to respond to local business needs. The Council encourage all prospective applicants to fully review grant guidance, which can be found at: UK Shared Prosperity Fund and Rural England Prosperity Fund Business Grants | West Lindsey District Council (west-lindsey.gov.uk), prior to submitting an Expression of Interest to ensure their project is eligible for funding.”

The fund is due to close in December 2024 to new applications, but may close earlier if all of the Council’s funding allocation is awarded. For more details on the grants the Council are offering visit: UK Shared Prosperity Fund and Rural England Prosperity Fund Business Grants | West Lindsey District Council (west-lindsey.gov.uk)

The UK Shared Prosperity Fund (UKSPF) is a central pillar of the UK government’s Levelling Up agenda and a component of its support for places across the UK. It provides £2.6 billion of capital and revenue funding for investment in local projects to be spent by March 2025.

All areas of the UK will receive an allocation from the fund. The primary goal of UKSPF is to build pride in place and increase life chances across the UK. The Rural England Prosperity Fund (REPF) is a top-up to UKSPF, to be spent between April 2023 and March 2025.

The fund supports activities that specifically address the particular challenges rural areas face. It is capital funding only and is complementary to funding used to support rural areas under the UKSPF. For more details on the funds visit the Government’s websites: UK Shared Prosperity Fund: prospectus – GOV.UK (www.gov.uk) and (Rural England Prosperity Fund: prospectus – GOV.UK (www.gov.uk).

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