UK Shared Prosperity Fund
The UK Shared Prosperity Fund (UKSPF or the Fund) is part of the Government’s Levelling Up agenda. It provides £2.6 billion of new funding for local investment by March 2025. All areas of the UK will receive an allocation from the Fund via a funding formula. The fund replaces the current EU structural funds, which will have finished by the end of 2023.
The primary goal of the Prosperity Fund is to help build pride in place and to help to increase life chances across the UK.
We are responsible for preparing an Investment Plan for the Fund. We have to submit this plan to the Government by 1 August, to secure a 3-year core funding allocation of £3.6m.
We want relevant organisations to submit proposals to become a delivery partner. Any organisation that has legal status can participate and receive funding, including arms-length bodies of government if appropriate.
These proposals will help to guide our Investment Plan and understand how we can work with partners to deliver in Pendle.
Funding available for projects in Pendle
We are getting an allocation of £3.6m from the government, to be invested over the next three years. The funding is allocated annually. The majority of funding will be available in the final year of the programme, as EU structural funds in the community come to an end. It is mainly a revenue based fund, with only a limited allocation for capital projects. Some of this allocation may be used for programmes which deliver across more than one local authority area, or by us for direct delivery of programmes.
To help direct where this funding should be made, we are developing an investment plan.
We are asking organisations across Pendle to submit proposals to us, for projects that deliver support in our communities. We are also looking for organisations who are interested in working with us to share their insight and knowledge and help us to shape our plan!
Wider economic opportunities
We will also consider proposals for projects that link with wider economic opportunities beyond Pendle, so that we can strengthen the delivery of local outcomes.
What types of projects are eligible?
We are looking for proposals from organisations in the community, charity, voluntary or business support sectors.
Projects must meet the requirements of the funding programme and support the growth and prosperity of Pendle. They should align with one or more of the three priorities of the UK Shared Prosperity Fund which are:
- Community and Place
- Supporting Local Business
- People and Skills
Think carefully about the capital and revenue requirements of your proposals before you complete the form.
We are encouraging proposals from organisations who have a track-record of delivery in their field and enough capacity.
What can I use the funding for?
Funding must be used for either:
- provision that is in addition to what is already available, or;
- to replace key spending that may not be available in future years
Projects do not have to be fully costed at this stage of the process.
Deadline for proposals
Given the level of interest and the limited funding available, we think there will be a high demand for funding. Any proposals we receive will be considered against prioritised needs.
Submit a proposal
Expressions of interest were accepted up to 17 June 2022.
You can email email@example.com with any questions.