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. 

About the fund 

  • This fund is available via The UK Shared Prosperity Fund. 
  • This fund will be open to applications during the financial year 2024/25 until the full amount of funds is awarded. 
  • Only businesses based and/or headquartered in Midlothian can apply. 
  • All funding is retrospective on satisfactory completion of project. 

Capital expenditure

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. 

Revenue expenditure 

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. 

Available Funding for 2024/25

1. Community Wealth Building Grants 

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 £9,592 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 £15,080.75 are available for capital expenditure projects under this intervention. 

Outcomes to be met with the S19 Grant Funding 

  • Number of enterprises with improved productivity. 
  • Number of enterprises engaged in new markets. 

Outcomes to be met with the S22 Grant Funding 

  • Jobs created. 
  • Number of new enterprises created as a result of support. 
  • Number of enterprises engaged in new markets. 

2. Exporting Grants 

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 £6,000 for exporting revenue are available for export projects under the S24 intervention. 

Outcomes to be met with the S24 Grant Funding 

  • Number of enterprises increasing their export capability. 

3. Tourism, Culture & Heritage Grants 

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 £12,499.83 for revenue expenditure are available for Tourism, Culture & Heritage projects eligible under the S14 intervention. 

Outcomes to be met with the S14 Grant Funding 

  • Jobs created. 
  • Number of new businesses created. 

What SPF funding will not support 

Funding will not support: 

  • General running costs and overheads 
  • Stock 
  • Routine repairs and maintenance 
  • Work undertaken to meet statutory requirements 
  • Vehicles 
  • VAT element of the cost of goods/services. 

Next Steps

Information Sessions for potential applicants 

Two information sessions will be held during April with Business Gateway Midlothian. These sessions will outline each fund, give an overview of the eligibility and application process for the funds and answer your questions.,  

First session – Thursday 18th April 2024, 10.30am - 11.30am 

Second Session – Monday 22nd April 2024, 2pm – 3pm 

You will be able to Register your Interest in the SPF funding after the Information Sessions.  

 

Shared Prosperity Funding 2024/25 Information Sessions - Book your place