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UKSPF Business Growth and Productivity Grants to Open in Newark and Sherwood

Posted on: Monday, June 16, 2025

Further funding from the UK Shared Prosperity Fund (UKSPF) will open for applications by Newark and Sherwood District Council on Wednesday 18 June 2025.

The Business Growth and Productivity Scheme will provide grants of between £2,500 and £10,000 to support a select number of successful local micro- and small-sized enterprises (SMEs), with a total of £100,000 funding available.

Eligible projects must demonstrate the achievement of UKSPF funding outcomes and alignment to the Council’s local Sustainable Economic Growth Strategy, including the creation of local jobs, increased productivity and improved environmental sustainability metrics.

The scheme is open to eligible businesses located anywhere in the Newark and Sherwood district that have been trading for at least 12 months and employ no more than 50 full-time equivalent staff.  

Funding is available for projects that align with one or more of the following themes:

  • Innovation, Productivity and Growth – including the introduction of new products, services or processes to create jobs or increase productivity.
  • Environmental Sustainability – including small-scale improvements or equipment to reduce carbon emissions or improve energy efficiency.

Councillor Claire Penny, Portfolio Holder for Sustainable Economic Development at Newark and Sherwood District Council, said: “This £100,000 funding round is a fantastic opportunity for our local businesses to take meaningful steps toward growth and sustainability. Whether it’s investing in new technology, improving operational efficiency, or reducing environmental impact, this scheme is designed to help businesses thrive.”

Applicants must provide a minimum of 40% match funding towards the total project costs and all funding must be spent by 31 January 2026.

Applications will be assessed against eligibility criteria and scored on factors such as strategic fit, deliverability of UKSPF outcomes, environmental impact, and justification for funding. Due to limited funds, and competitive funding nature, a select number of applicants will be successful in securing funding.

The application window closes on Wednesday 16 July 2025. Businesses must submit a completed application form, at least one quote for proposed costs, and evidence of financial standing.

For full guidance and to apply from 18 June, visit the District Council’s website or contact the UKSPF team by emailing UKSPF@newark-sherwooddc.gov.uk.

The UK Shared Prosperity Fund aims to improve pride in place and increase life chances across the UK investing in communities and place, supporting local business, and people and skills. For more information, visit https://www.gov.uk/government/publications/uk-shared-prosperity-fund-prospectus.

The District Council will also this week launch the Rural England Prosperity Fund (REPF) Grant Programme for a third round, offering capital grants between £10,000 and £40,000 to eligible organisations located in designated rural areas.