Posted on 11th Sep
Businesses throughout the district are making big developments, expanding their commercial ventures, thanks to the support from Newark and Sherwood District Council.
They’ve gained access to grant funding opportunities via the UK Shared Prosperity Fund (UKSPF) and Rural England Prosperity Fund (REPF), giving them a boost to grow and thrive.
More than 70 local businesses have collectively received more than £375,000 in grant funding from the two funds throughout 2023 and 2024 to help them take the next step, diversify or improve their environmental impact and sustainability.
In addition to the grant funding awarded, a further £1m is committed through UKSPF and REPF under the theme of supporting local businesses and the visitor economy, including providing local enterprises with fully-funded specialised training, access to one-on-one advisory services, workshops, as well as investment in town centre regeneration and enterprise infrastructure.
Grants to businesses were awarded following various themed competitive rounds, including grants that specifically support rural economic growth through projects such as farm diversification and tourism creation, improving business sustainability and reducing carbon, and encouraging productivity and the scale up of small and micro businesses.
The funding has supported a variety of projects for businesses, such as capital grants for expansion of event venues, leisure and hospitality sites, funding to purchase key production and manufacturing equipment, solar panel and energy-efficiency solutions, and purchases to help businesses improve processes or enhance productivity.
One of the successful grant recipients was The Sherwood Food and Drink Company, Hockerton, which received funding through REPF towards the purchase of key manufacturing and production equipment to support the scale up of its local oat-based milkshake business, Devoated.
The project safeguarded two jobs, supported the future recruitment of one job, introduced new products to market, and introduced new processes to the firm to help significantly grow the business.
Devoated owner Oliver Christy said: “The Rural England Prosperity grant funding has been instrumental and essential in enabling us scale up our operations and support our business plan.
“We have been able to fit out our unit and purchase equipment much quicker than we would have otherwise been able to do.”
The chief executive of Norwood Park, Events Venue and Golf Course, Tim Eatherington, which has also benefitted, added: “The EV chargers are a great addition to our facilities, as they allow us to accommodate more customers and guests, and also encourage them to use greener modes of transport.
“The grant funding from UKSPF has been very helpful in making this project possible.”
The UKSPF and REPF are Government funds available until March 2025. Businesses received funding through competitive rounds, and all current funds have now been distributed.
The council said this was is one among many initiatives it has backed over the past year to assist local businesses.
Its Economic Growth team collaborates with local enterprises and partners, providing advice, guidance, and support through a variety of initiatives and approaches. This includes a complimentary grant-finding service, a commercial property search service, and workshops covering topics such as cyber resilience, sustainability, and finances and access to dedicated business advisors.
More information on support available from the council is at www.newark-sherwooddc.gov.uk/your-business/business-information/business-growth-and-support
