Shared Prosperity Fund
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.
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. Can include expenses to meet operational costs of doing business. This can include 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 and staffing costs should include gross salary plus employer National Insurance and pension costs.
This is to support the local social economy, including community businesses, cooperatives and social enterprises, as Midlothian transitions to a wellbeing economy.
Projects should support and strengthen local entrepreneurial ecosystems and plural economy enterprises to start, sustain, grow and innovate, including through local enterprise networks.
Grants of up to £11,148 for capital expenditure and up to £13,633.30 for revenue expenditure are available for Community Wealth Building projects.
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 £6,455.67 for exporting revenue are available for export projects.
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 £8,039.09 for capital expenditure and £11,637.05 for revenue expenditure are available for Tourism, Culture & Heritage projects.
Funding will not support:
Applications are open for the Midlothian Shared Prosperity Fund and can be completed online.
The grant will be paid after the funds have been spent, and evidence of the spend submitted to Midlothian Council.