UK Shared Prosperity Fund – Local Business Support

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.

Types of Funding

• 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.
  • S22: Support the local social economy, including community businesses, cooperatives and social enterprises, as Midlothian transitions to a wellbeing economy.
• 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.
• 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.

Funding Information

• Community Wealth Building Grants
  • S19: Grants of up £9,592 for revenue expenditure are available for eligible projects under this intervention.
  • S22: Grants of up to £15,080.75 are available for capital expenditure projects under this intervention.
• Exporting Grants
  • Grants of up to £6,000 for exporting revenue are available for export projects under the S24 intervention.
• Tourism, Culture & Heritage Grants
  • Grants of up to £12,499.83 for revenue expenditure are available for Tourism, Culture & Heritage projects eligible under the S14 intervention.

Expected Outcomes

• Community Wealth Building Grants
  • 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.
• Exporting Grants 
  • Outcomes to be met with the S24 Grant Funding
    • Number of enterprises increasing their export capability.
• Tourism, Culture & Heritage Grants
  • Outcomes to be met with the S14 Grant Funding
    • Jobs created.
    • Number of new businesses created.

Eligibility Criteria

• Only businesses based and/or headquartered in Midlothian can apply.

Ineligible

• 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 (unless applicant is eligible for VAT relief e.g. Charitable Organisation)

For more information, visit Midlothian Council.