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Home > Business > UK Shared Prosperity Fund

UK Shared Prosperity Fund

In April 2022, the Government launched the UK Shared Prosperity Fund (UKSPF) to support its Levelling Up agenda. The primary goal of the UKSPF is to build pride in place and increase life chances across the UK. Full details of the fund are available in the UK Shared Prosperity Fund prospectus.

East Suffolk Council has been allocated £2.75m to invest across two and a half years (2022/23 - 24/25) in initiatives that will address inequality and contribute to levelling up. This is in addition to the £3.75m Multiply element of the UKSPF, which Suffolk County Council can apply for to support adult numeracy across the county. The funding can only be unlocked upon submission of an Investment Plan which is signed off by both the council and the government.

The primary goal of the overall £2.6bn UK Fund is “to build pride in place and increase life chances across the UK” and is based around three investment priorities:

  • Communities and Place
  • Supporting Local Business
  • People and Skills

While there is a link between the former EU funding regime and the UKSPF, the funding is not a direct replacement for EU Structural Funds.

The funding can be spent on capital (physical assets) and revenue (operational) projects.

The funding amounts for each of the three years differ as follows:

Funding profile
Funding sources2022-232023-242024-25Total
UKSPF allocation £334,072 £668,144 £1,750,536 £2,752,752
Revenue split £300,664 £581,285 £1,400,428 £2,282,378
Capital split 10% / 13% / 20% (minimum) £33,407 £86,858 £350,107 £470,373

To develop the East Suffolk Investment Plan, the council gathered stakeholder input through a public survey to invite local stakeholders to give their views on what are the most pressing local challenges that need to be addressed, and the projects and initiatives that could best address them. This input was combined with data about the local area and existing funding, the Government criteria and wider strategic priorities to inform the development of the East Suffolk investment plan.

East Suffolk Council received official approval from the Department for Levelling Up, Housing and Communities for our UKSPF Investment Plan on 5 December 2022. Delivery will commence with immediate action.

Investment Plan

Our Investment Plan contains eight key programmes, based on new and existing schemes to be delivered either locally or collaboratively with other local authorities in Suffolk.

East Suffolk Council have launched a series of grant schemes as part of our eight key programmes. These grants schemes will change over the period of the investment plan so please check for regular updates. The following grant schemes are open for applications:

High Street Improvement Grant 
High Street Improvement Grant guidance High Street Improvement Grant application
The High Street Improvement Grant scheme round-4 is open from 29 August 2023 and closes for applications on 27 October 2023.
Events, Art and Culture Grant 
Events, Art and Culture Grant guidance Events, Art and Culture Grant application
Round 4 of the Events, Arts and Culture Grant scheme is now open for applications and will close on 27 October. Please note that all future funding for this scheme is now through East Suffolk Council and not part of the UKSPF programme due to being oversubscribed.
East Suffolk Pantries Grant
East Suffolk Pantries Grant guidance East Suffolk Pantries Grant application
Round-3 of the Food Pantries grant scheme is open for applications from 13 September 2023 and closes on 27 October 2023.
East Suffolk Energy Efficiency grant
East Suffolk Energy Efficiency grant guidance East Suffolk Energy Efficiency grant application
The Energy Efficiency grant scheme round 2 is open from 1 August 2023 and closes for applications on 29 September 2023.
Warm Welcomes grant scheme
Partly funded by funds from the UKSPF, this scheme aims to fund ‘Warm Welcomes’, which are to provide somewhere safe, warm and welcoming where people who may be struggling with the cost of heating their own homes can come to keep warm, socialise and connect with others and access additional information, advice and support from local partners. The Warm Welcomes seek to be warm not just in the temperature of the room, but also the spirit behind it. We are seeking to enable and facilitate groups and organisations to offer Warm Welcomes that offer something additional to communities this winter that will support around the cost of living and inequalities, reduce social isolation and provide a warm community welcome to address community concerns around wellbeing in light of the rising cost of living.
More information and how to apply.

Communities and Place

  • East Suffolk High Street Improvement Plan
  • Using place to strengthen our local social fabric to support the cost-of-living crisis: this will be a three-year programme which will take place through two key projects:
    • East Suffolk Community Food Network
    • East Suffolk Warm Rooms

Supporting Local Business:

  • Suffolk wide business support programme
  • Business start-up programme
  • East Suffolk Small Business Move to Net Zero grant scheme
  • East Suffolk capital business and workforce skills grant programme

People and Skills:

  • Suffolk wide skills programme
  • East Suffolk Local economy led skills and community skills programme
  • Voluntary skills provision

Outcomes

Through this Investment Plan, we hope to achieve a range of outcomes such as:

  • Rehabilitated premises and land in our high streets
  • Support community members through the cost-of-living crisis
  • Support businesses to start-up and grow
  • Modernise and upgrade training centres and hubs
  • Support decarbonisation whilst growing the local economy
  • Provide direct support to those that are economically inactive
  • Support people to engage with life skills or gain a vocational license through providing financial support

County collaboration

Suffolk Local Authorities have recognised the benefits and the economies of scale that can be achieved through a collaborative business support and skills programme. The county has significant experience of collaborating and delivering on EU skills and business programmes.

Lead local authorities and key partners have worked up proposals for pooling UKSPF funding in these priority areas, which have been supported in principle by the Suffolk Public Sector Leaders Group (Chief Executives of Suffolk Local Authorities).

Consultation

A Local Partnership Group of local stakeholders will be established to act as an advisory and oversight group on project development and delivery. To support the ongoing UKSPF activity an experienced and skilled team of East Suffolk Council officers has been established.

To learn more about this scheme and our Investment Plan, please contact our Economic Development Team.

Information about the Rural England Prosperity Fund and further grant opportunities

In this section

  • Rural England Prosperity Fund
  • Contact us

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