|
Getting your Trinity Audio player ready...
|
When the UK Shared Prosperity Fund (UKSPF) came to an end in March 2026, there was considerable uncertainty about what would happen to local council business grants. Many council-funded schemes closed earlier this year, leaving businesses with fewer local funding opportunities and questions about where the next wave of support would come from. Four months on, local council grant funding is starting to move again, with more than 100 new schemes launched over the past three months and many more opportunities in the pipeline.
The number of new schemes has remained relatively strong throughout the summer:
- June: 36 new schemes
- July: 43 new schemes
- August: 33 new schemes expected
These schemes have been launched by 63 different councils, showing that the recovery in local funding is not limited to a small number of areas. There are also 31 additional council funding opportunities that have been announced but have not yet launched. Most of these were announced during 2026 and are expected to open over the next few months.
Local Growth Fund could bring more opportunities
Only a handful of Local Growth Fund business schemes have launched so far, but considerably more funding is expected to become available as the programme progresses. Some early examples are already appearing.
Sheffield has launched a grant supporting low-carbon projects, while Merthyr Tydfil has introduced a Business Growth Grant Scheme. The Vale of Glamorgan has launched an SME Low Carbon Grant Programme and Pembrokeshire has introduced a Growth Grant.
In the rest of the UK the rollout is happening at different speeds across the UK.
In England, more funding is expected to reach businesses as the 11 Mayoral Strategic Regions progress with their Local Growth Plans and begin turning allocations into specific programmes.
In Wales, several councils have already launched schemes, but the wider rollout is still at an early stage following the publication of Welsh Government guidance.
In Northern Ireland, a £274 million Local Growth Fund allocation was announced earlier this month, so further local opportunities are expected to emerge.
Scotland is currently less clear, with no major update on the wider rollout since the original announcement.
The Pride in Place Fund is also beginning to generate local funding opportunities, although businesses need to understand that this programme is not exclusively focused on business support. Some funding will be used for regeneration, community projects and improvements to local areas. However, businesses can benefit in certain locations.
Examples already include Gateshead’s Small Grants Fund, a Northfleet High Street premises improvement grant in Gravesham, and Pride in Place funding being developed in areas such as Sandwell and Merthyr Tydfil.
The eligibility rules vary. Some schemes allow businesses to make improvements where there is a wider community benefit, while others focus on specific investments such as energy efficiency.
More funding is expected, but the rollout is likely to be gradual. This is because funding decisions are being made through local Neighbourhood Boards. Many boards have only recently established their formal structures and membership, and they have until the end of November to submit their formal funding plans. This helps explain why only a relatively small number of Pride in Place business schemes have appeared so far.
For SMEs, the key is to keep looking, understand what funding is available in your area and be ready to apply when the right opportunity opens.