New match funded grants available for busineses

BCP Council’s Economic Development Team has recently launched a new funding initiative for local businesses. The UK Shared Prosperity Fund (UKSPF) is a central pillar of the UK government’s Levelling Up agenda and provides £2.6 billion of funding for local investment by March 2025. The Fund aims to improve pride in place and increase life chances across the UK investing in communities and place, supporting local business, and people and skills.

A budget of £2.5 million has been set aside to support local businesses in the following areas:

• start-up and growth

• exporting

• research and development and innovation

• decarbonisation and improving the natural environment

• town and district centres

• development and promotion of the visitor economy.

Eligible businesses

The business’s sole or main place of business must be an address within Bournemouth, Christchurch and Poole in order to be eligible to apply for support from the UKSPF.

Register to access support

Get started by registering your business for the UKSPF support. You will then be invited to complete a free online diagnostic tool which will provide valuable insights in to perceived strengths and weaknesses.

Depending on the support you require, the Economic Development team may refer you to BCP Council’s UKSPF support partner Evolve to receive additional support and guidance at no cost. The option to apply for a grant will be made available to SMEs on completion of the diagnostic process.

Match-funded grants

The government has allocated £4.2 million for investment in communities across Bournemouth, Christchurch, and Poole.

Following the diagnostic stage, most businesses (primarily micro and SMEs), are eligible to submit an application for a match-funded grant to deliver a project in one of the following areas:

• start-ups (£500 up to £1,000)

• business growth (£1,000 up to £2,500)

• research and development for innovative product and service development (£1,000 up to £5,000)

• exporting to grow overseas trading (£1,000 up to £5,000).

Grant application submissions deadlines

Applications must be submitted by the dates shown above in order to be assessed by the next board assessment meeting. Businesses will be notified within two weeks of the board assessment.

To apply or find out more visit: https://www.bcpcouncil.gov.uk/ Business/UK-Shared-ProsperityFund/UK-Shared-ProsperityFund.aspx

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