Melton Borough Council has launched the next tranche of funding from the UK Shared Prosperity Fund (UKSPF) and Rural England Prosperity Fund (REPF) for local businesses.
The council have announced that £170,000 is available for capital projects, with two categories of grants available: Pre-Start/Startup Businesses and Supporting Business Growth.
Businesses can apply for amounts of £2,000-£10,000, which depending on their project may need to be supported by a Business Plan for pre-startups, and a Business Case (if applying for over £7,500).
Leader of the Council, Cllr Pip Allnatt said: “I am pleased that once again the award of grants will be by a panel with independent and impartial assessment of all applications. We want to ensure that taxpayers’ money is used fairly.
“Our Council is not a big ‘mover and shaker’ in the world of private enterprise, but it is important we do our bit to support local initiative and business enterprise. In the long run, thriving small businesses benefits everyone.”
The application window for this tranche of business grants opened on 12 July 2024 and closes at midnight on 09 August 2024.
During the past financial year, the council had a total fund of £152,806.60 allocated for capital business grants from the UKSPF and REPF. They received a total of 65 applications, a clear indication of the high demand for financial support among local businesses, of these 13 businesses were successful.
Businesses that were unsuccessful in the initial funding round, as well as others seeking grants and support, were offered free assistance from the Leicestershire Business Advice Service. They were also encouraged to participate in workshops aimed at enhancing their applications for the upcoming round.
Between May and July, four workshops were held to guide potential applicants on the grant application process and the necessary information and evidence for a successful submission.
