Local businesses benefit from more than £375,000 in grant funding

Over 70 local businesses have collectively received more than £375,000 in grant funding from the UK Shared Prosperity Fund and the Rural England Prosperity Fund throughout 2023 and 2024 to help their businesses to take the next step, diversify or improve their environmental impact and sustainability.

In addition to the grant funding awarded, a further £1m is committed through UKSPF and REPF under the theme of supporting local businesses and the visitor economy, including providing local enterprises with fully funded specialised training, access to one-on-one advisory services, workshops, as well as investment in town centre regeneration and enterprise infrastructure.

Grants to businesses were awarded following various themed competitive rounds, including grants that specifically support rural economic growth through projects such as farm diversification and tourism creation, improving business sustainability and reducing carbon, and encouraging productivity and the scale up of small and micro businesses.

The funding has supported a variety of projects for businesses, such as capital grants for expansion of event venues, leisure and hospitality sites, funding to purchase key production and manufacturing equipment, solar panel and energy efficiency solutions, and purchases to help businesses improve processes or enhance productivity.

Some of the successful grant recipients include:

• The Sherwood Food and Drink Company, Hockerton, received funding through REPF towards the purchase of key manufacturing and production equipment to support the scale up of their local oat-based milkshake business, Devoated. The project safeguarded two jobs, supported the future recruitment of one job, introduced new products to market, and introduced new processes to the firm to help significantly grow the business.

 

The owner of Devoated, Oliver Christy, said: "The Rural England Prosperity grant funding has been instrumental and essential in enabling us scale up our operations and support our business plan...we have been able to fit out our unit and purchase equipment much quicker than we would have otherwise been able to do.”

 

Chief Executive of Norwood Park, Events Venue and Golf course, Tim Eatherington, said “The EV chargers are a great addition to our facilities, as they allow us to accommodate more customers and guests, and also encourage them to use greener modes of transport. The grant funding from UKSPF has been very helpful in making this project possible."

The UKSPF and REPF are Government funds available until March 2025. Businesses received funding through competitive rounds, and all current funds have now been distributed.

This is one among many initiatives the District Council has backed over the past year to assist local businesses in the area. Their Economic Growth team collaborates with local enterprises and partners providing advice, guidance, and support through a variety of initiatives and approaches. This includes a complimentary grant-finding service, a commercial property search service, and workshops covering topics such as cyber resilience, sustainability, and finances and access to dedicated business advisors.  

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