New business grants available for city SMEs

Grants of between £5,000 to £15,000 are available for eligible businesses which meet the criteria.

The funding will come from the UK Shared Prosperity Fund (UKSPF) – a new three-year fund replacing European Structural and Investment Funds (ESIFs) such as the European Regional Development Fund (ERDF) and the European Social Fund (ESF).

The two new grants available now are the West Midlands Business Grant and the Net Zero Grant Programme (NZGP). The first window for Expressions of Interest in both grants will remain open to Wolverhampton businesses until 5pm on Wednesday, November 29, 2023.

The West Midlands Business Grant is intended to bolster investment, innovation and growth activities of SMEs, while the NZGP grant seeks to support businesses to reduce their environmental impact and the rising energy costs these companies are experiencing.

Councillor Stephen Simkins, City of Wolverhampton Council leader, said: “The purpose of the UKSPF is to build pride in place and increase life chances across the UK by prioritising communities and place, local business support and people and skills.

“In Wolverhampton, we will utilise the funds to support SMEs in maximising their offer and capitalising on opportunities being generated by investment in our city – it will also give them the power to combat rising energy costs and support the city’s climate change initiatives.

“I would urge businesses to head to the business grants webpage and find out exactly what funding is available to them.

“There is also support in place to help guide businesses through the process to access these grants.”

Full details on the grants, eligibility criteria and how to apply can be found here: wolverhampton.gov.uk/business/employersupport/uk-shared-prosperity-fund