New £30k business grant pot launched in Shrewsbury – but applicants need to be quick
A new grant scheme aimed at growing Shrewsbury town centre businesses has been launched with a funding pot of £30,000.
Watch more of our videos on ShotsTV.com
and on Freeview 262 or Freely 565
Not-for-profit business partnership Shrewsbury Business Improvement District (BID) says successful applicants could be awarded between £1,000 and £5,000 as part of its Future Shrewsbury grant scheme.
Part of the funding for the project is provided by the UK Government’s Shared Prosperity Fund (UKSPF), a £2.6 billion national scheme aimed at boosting productivity and regional development across the country.
The BID says the funding can only be used to cover revenue costs rather than capital projects, but could be used for purposes such as hiring new staff or renting extra retail or office space.
However, businesses hoping to apply for funding will need to move quickly, with applications set to close on October 20.
Seb Slater, Executive Director of Shrewsbury BID, said: “We are delighted to be able to offer support for people to grow and evolve their businesses through our Future Shrewsbury Business Grants scheme.
“We have £30,000 available for the programme and are urging those eligible to get their applications in as soon as possible.
“We are really excited to see a wide range of applications. Examples of eligible activities could include improving shopfronts, paying for rental of additional space, training and onboarding of new members of staff, covering the costs associated with work placements, innovating to reach new markets, and the development of activities and events in the town centre.
“All applicants will be scored against a set criteria and successful applications selected by the Future Shrewsbury panel and will need to spend the money, which is 100 per cent funded through UKSPF, UK Government, by March next year.”
Shropshire has been allocated just over £12 million between 2022 and March 2025 from the UK Shared Prosperity fund with neighbouring Telford & Wrekin receiving an allocation of just over £6.7m.
The scheme is the UK Government’s domestic replacement for the European Structural and Investment Fund Programme (ESIF), which provided around £7.7bn of European funding for regional economic development between 2014 and 2020.
