A three-year programme of funding, that is helping hundreds of local businesses and individuals, will be highlighted when Dudley Council’s cabinet meets this month.
Running until March 2025, The UK Shared Prosperity Fund (UKSPF) was set up by the government to build pride in place and increase life chances in the UK.
The West Midlands Combined Authority (WMCA) was allocated £88.4m of the funding, with more than £7.2million going to Dudley borough since April 2022.
Dudley Council is using the cash to support business to grow and take steps towards net zero, encourage entrepreneurship, create training opportunities and make investments in parts of the borough.
Two grant programmes are currently open for applications from Dudley borough SME businesses. They are the Dudley SME Grant Programme, which supports business growth through innovation, developing new market opportunities and improving systems and processes, and The Dudley Decarbonisation and Net Zero Grant Programme, which contributes to removing financial barriers and enable SMEs to make carbon savings through increased energy and resource efficiency.
Almost £500,000 has already been awarded to business across the two schemes, with funding still available to help entrepreneurs and existing small to medium-sized enterprises. More information is online at https://www.dudleybusinessfirst.org.uk/access-to-finance
Thousands of opportunities are being created for eligible individuals (mostly people outside of work who do not claim benefits) to gain a brighter future through upskilling or gaining employment.
Utilising the funding, the council has also rolled out a pilot of a business led partnership for Dudley and Stourbridge town centres, which builds capacity through partnership working and has helped to deliver events and activities in the towns.
In addition, nearly £52,000 in funding has been secured to spruce up outdoor gyms at nine parks in the borough.
Councillor Paul Bradley, cabinet member for communities, economic delivery and climate change said:
"The UKSPF programme was a part of the former government’s levelling up agenda and it’s helping to create fantastic opportunities with grants for businesses in Dudley borough.
“This funded programme runs until March 2025, with the People & Skills programme allowing us to provide bespoke employment support to adults aged 19 upwards.
“If you are a stay-at-home parent, out of education, looking to set up as self-employed, wondering where to start your career or an unemployed adult looking to improve your skills, we can help you.”
The latest round of business grants has been expanded to include start-ups, entrepreneurs who are getting their business off the ground, and small to medium-sized enterprises (SMEs) that have been trading for more than 12 months.
Advisers from Business Growth West Midlands in Dudley are on hand to offer help and support. More information is available on the Dudley Business First website.