Businesses and community organisations in Norfolk and Suffolk are being invited to apply for funding made available via two Government initiatives.
The UK Shared Prosperity Fund (UKSPF) is a central pillar of the Government’s ambitious Levelling Up agenda and a key component of its support for places across the UK, providing £2.6bn of new funding for local investment by March 2025.
Its primary goal is to build pride in place and increase life chances across the country, focusing on communities and place, supporting local business, people and skills.
In Norfolk, councils are using their Fund allocation to deliver specific projects and/or contribute to the business support delivered by New Anglia Growth Hub as part of New Anglia Local Enterprise Partnership’s Business Growth Programme.
In total, local councils in Norfolk have been allocated about £15m over the next three years and Suffolk about £12m under UKSPF.
Meanwhile, businesses and community organisations in North Norfolk and West Norfolk are being invited to apply for support for capital projects via the Rural England Prosperity Fund (REPF).
This Fund is a top-up to the UKSPF and is available to eligible local authorities in England where communities and businesses face specific rural challenges. North Norfolk District Council has been allocated £1.457m REPF and the Borough Council of King’s Lynn and West Norfolk has been allocated £1.836m.
Both the capital and community grants in North Norfolk are being distributed via the Growth Hub. This will be in the form of the Rural Business and Communities Grant. The scheme will run for two years and require some level of match funding.
For rural West Norfolk, part of this funding is being delivered via the Growth Hub through the West Norfolk Rural Businesses Capital Grant scheme, which is worth £896,455 over two years (2023-2025).
The Borough Council of King’s Lynn and West Norfolk is also delivering a West Norfolk Rural Community Capital Grant scheme through Norfolk Community Foundation and has an allocation for Active Travel Enhancements which it is delivering in partnership with Norfolk County Council.
A package of grant schemes and other programmes totalling £4m has been announced by the LEP, and this will benefit 2,500 businesses and supply 4,400 hours of bespoke support in 2023-24.
Jason Middleton, the LEP’s Programmes Manager, said: “Along with the LEP’s own grant schemes and programmes, this funding will help to deliver projects across Norfolk and Suffolk that will have a real impact – from individual businesses to entire communities.
“I would advise business owners and those involved in local organisations to find out about the support that is being made available from their local authority.”
To find out what support is available via your local council, visit www.newangliagrowthhub.co.uk/business-support/funding-opportunities/