Shared Prosperity Fund
Local Business Support
Local Business Support
The Shared Prosperity Fund (SPF) provides capital and revenue expenditure grants to businesses and third sector organisations in Midlothian and is being allocated to support 3 programmes – Community Wealth Building, Exporting and Tourism, Culture and Heritage.
PLEASE NOTE: All grants are subject to the Subsidy Control Act 2022
This typically relates to funding for the purchase, refurbishment, or renovation of fixed assets such as buildings or land to include fixtures and fittings. Capital expenditure items includes computers, software systems and other forms of equipment that are required to operate the business.
This covers short term business expenses that are usually used immediately or within a year, this can include expenses to meet the operational costs of doing business such as consultancy and staffing.
Revenue projects usually have an element of staffing costs, where this is the case, the costs must be specific to the project described in the application form and the staffing costs should include gross salary, plus employer National Insurance contributions and pension costs.
Applications must be completed and submitted by Friday 27th September to be considered.
The Community Wealth Building fund is divided between two interventions, S22 and S19.
S19: Support and strengthen local entrepreneurial ecosystems and plural economy enterprises to start, sustain, grow, and innovate, including through local enterprise networks.
Grants of up £12,000 for revenue expenditure are available for eligible projects under this intervention.
S22: Support the local social economy, including community businesses, cooperatives and social enterprises, as Midlothian transitions to a wellbeing economy.
Grants of up to £18,338.14 for revenue expenditure and up to £15,121.13 for capital expenditure are available for projects under this intervention.
Outcomes to be met with the S19 Grant Funding
Outcomes to be met with the S22 Grant Funding
The Exporting fund has one intervention, S24.
Exporting Grants are intended to provide funding to design and develop new products and services to meet the needs of new or existing international markets.
Applications should clearly demonstrate how the grant fund will support new product development.
Projects can include early-stage prototyping, modelling or beta testing that will accelerate the journey to commercialisation, with the potential to create higher value jobs.
Grants of up to £6,334.25 for exporting revenue are available for export projects under the S24 intervention.
Outcomes to be met with the S24 Grant Funding
The Tourism, Culture and Heritage fund has one intervention, S14.
These funds are to encourage and support enterprises to get involved in tourism projects, cognisant of net zero and 20 minute neighbourhoods, to create local employment, training and volunteering opportunities while generating revenues that can be reinvested in communities.
Applications are invited from new and existing tourism businesses and community enterprises for projects that will develop new products, local attractions, trails etc, enhancing community wellbeing and the visitor economy.
Grants of up to £10,008.66 for revenue expenditure and up to £10,008.66 for capital expenditure are available for Tourism, Culture & Heritage projects eligible under the S14 intervention.
Outcomes to be met with the S14 Grant Funding
Funding will not support:
To apply for this round of UK Shared Prosperity Funding, please complete the expression of interest form below and a member of the team will get in touch with you directly.
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