UK Shared prosperity Fund

Dacorum Borough Council have secured significant funds to support local businesses as part of the governments UK Shared Prosperity Fund. Expressions of interest are now being invited and a briefing on the scheme will be held on Wednesday afternoon.  

You may have heard that the UK Shared Prosperity Fund was launched by central government in early 2022 to support its ‘Levelling Up’ agenda. All local councils have been allocated a share of the fund to invest in their areas by March 2025. The Shared Prosperity Fund is intended to replace EU funding.

Dacorum Borough Council has been allocated £1,763,392 over the next three years, up to March 2025 to support local activity.

The fund can be used to support a wide range of initiatives across three priorities:

  • Community and place
  • Supporting local business
  • People and skills

To access this funding, the Council must submit an Investment Plan to the government by 1 August 2022. This will set out the activities to be delivered to meet local needs.

As part of the process to develop the Investment Plan, the Council wants to work with local partners including the voluntary and community sector organisations, business representatives and other key stakeholders to develop the plan.

As I mentioned earlier in this letter the Investment Plan needs to be submitted by 1st August at the latest so much to do in a short period of time. Below is a link to the governments UKSPF prospectus.

UK Shared Prosperity Fund: prospectus – GOV.UK (www.gov.uk)

We will be holding a briefing session on UKSPF for interested parties on Wednesday 29th June 4pm-5pm to explain the Expression of Interest (EOI) process and timeline for projects. The deadline for receipt of EOI Friday 8th July. This is will feed into a workshop on a date to be confirmed, to which you will be invited, to prioritise Investment Plan projects. Attached is a copy of the Expression of Interest form.

Expression of interest form is available on request

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