A councillor is calling on the government to continue a fund he says has helped nearly one in 10 businesses in South Holland.
The UK Shared Prosperity Fund (UKSPF) included the Grants for Growth scheme which saw businesses be able to apply for grants to improve their profitability.
It was distributed locally by South Holland District Council and its portfolio holder for finance, Coun Paul Redgate, used a recent meeting of the authority to push for it to continue ahead of the new government’s budget.
“Through our grants for growth we provided £343,000 to South Holland businesses and will have provided £1.9m in to the area’s economy by March 25,” he said.
“Two hundred and seventeen businesses received technology growth advice since autumn 2023, usually in the form of a business action plan led by a business advisor.
“There are 32 businesses across South Holland which have already reported immediate improvements to productivity as a result.
And 12 businesses across the district have reported UKSPF has immediately assisted them in accessing new export markets.
“By March we’re anticipating nine per cent of local businesses will have received a grant or taken advice from the UKSPF.
“Bearing in mind the programme started only 18 months ago, this is quite an achievement compared to the previous models of business support.
“The government are reviewing this funding and its important we highlight the continuing success of UKSPF right across the district and indeed the partnership.
“It’s one of the best performing funds in the UK.”
