Shropshire businesses urged to apply for support backed by Stuart Anderson MP
Small and medium sized business across South Shropshire are being urged to apply for a support scheme backed by Stuart Anderson MP. Funding is available from the UK Shared Prosperity Fund (UKSPF), which the last government introduced following the UK’s departure from the European Union (EU). Under the UKSPF Small Business Grant Scheme, grants are available to help small businesses with the costs of new equipment or to undertake improvements to their business premises.
Having launched on 9th September, a new round of grants are available of between £2,000 and £10,000 for up to 50% of total costs. According to Shropshire Council, £250,000 has already been awarded this year to help small businesses grow and expand. To be eligible, the business must have between 1 and 49 employees.
With current funding due to end in March 2025, Stuart last month called on the new government to continue the schemes. It includes Rural England Prosperity Fund (REPF), a rural top up to the UK Shared Prosperity Fund (UKSPF). This provided allocations for Local Authorities in England to help address the needs and challenges facing rural areas such as Shropshire. It has funded capital projects for small businesses and community infrastructure, helping to improve productivity and growth in rural areas and strengthening the rural economy by supporting local jobs.
Under the last government, over £12 million was allocated to Shropshire from the Shared Prosperity Fund. In addition, £2.6 million was provided via the rural top-up to support local businesses, farms, and community infrastructure in Shropshire.
Stuart Anderson said:
“Small businesses are the backbone of our rural economy in South Shropshire. They are the lifeblood of the economy and the beating heart of local communities. My aspiration is for South Shropshire to become one of the best places in the country to start and grow a business. With 5.5 million of them, almost every business in the country is a small business. They support 27 million jobs and account for £4.5 trillion of annual turnover. Under the last government, Shropshire Council was equipped with almost £15 million to help small and medium sized business across South Shropshire. Having called on the government to continue the schemes, I would urge businesses to apply for the existing funds. Capital grants are available of between £2,000 and £10,000 for up to 50% of the costs of new equipment or to undertake improvements to the premises.”
