Newark and Sherwood District Council outline funding options for small and micro businesses in Nottinghamshire including the UK Shared Prosperity Fund and the Rural England Prosperity Fund

Small and micro businesses across Newark and Sherwood can now apply for two grant funding schemes.

Specialist advice is also on offer to support the rural economy and help improve environmental sustainability.

Matthew Spoors, portfolio holder for sustainable economic development, said: “I am pleased to announce that we have launched further funding opportunities for businesses across Newark and Sherwood thanks to our allocation of UKSPF and REPF.

"These schemes will enable us to continue investing in our local areas by supporting businesses at the heart of our communities.

“We are committed to helping businesses through what continues to be a challenging time and through our various programmes and schemes.

"These grant schemes are another way we have helped through UKSPF, including the Newark and Sherwood Accelerator, business support clinics and surgeries, Business Growth and Resilience Programme, and previous grant funding opportunities.

“If you are a local business that meets the funding criteria for these grant schemes, please consider applying or getting in touch to discuss.”

Businesses operating in rural areas of the district can now apply for between £10k and £50k as part of the Rural Business Grant Scheme, to help support the strength of the rural economy.

The grants are funded by the Rural England Prosperity Fund (REPF), and can be used to help create and safeguard jobs and increase productivity and business sustainability.

Eligible businesses will need to match fund 40% of the total project cost.

In addition, businesses across the district can also now apply for grants of up to £5k as part of the Business Decarbonisation Grant Scheme, funded by UK Shared Prosperity Fund (UKSPF).

Funding must be used to help improve the sustainability of business operations or reduce energy usage.

A 10% match contribution towards total costs is required from businesses who apply for this grant.

Eligible businesses must operate in the Newark and Sherwood area, have up to 50 full-time equivalent employees, and have been trading for a minimum of 12 months.

The latest de-carbonisation grant funding compliments the wider offer of business support, including the recent launch of the Accelerator programme, delivered by the East Midlands Chamber and funded by the district council through an allocation of UK Shared Prosperity Fund.

The Accelerator programme provides specialist one-to-one advice, workshops, and energy audits for businesses in Newark and Sherwood looking to improve the sustainability of their operations and introduce innovation solutions.

More information can be found here: https://www.emc-dnl.co.uk/accelerator/

Businesses are encouraged to engage with specialist advisors before submitting a grant application for either scheme, to seek advice on appropriate solutions for their business needs.

More information on business support can be found here: https://www.newark-sherwooddc.gov.uk/your-business/business-information/business-growth-and-support/

Keith Melton, portfolio holder for climate change at Newark and Sherwood District Council added: "It is fantastic that through our allocation of the UK Shared Prosperity Fund, we can offer businesses the chance to apply for grant funding that will create a significant impact to help improve the sustainability of their day-to-day operations and reduce their fossil fuel energy usage.

"The money businesses could receive from our Business Decarbonisation Grant Scheme will make such a difference for our local small businesses wanting to make those effective changes towards moving to a greener way of doing business.

"I am thrilled we can offer them this chance.

"Please do consider applying if you are an eligible business."