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UK Shared Prosperity Fund

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1. About the UK Shared Prosperity Fund

The UK Shared Prosperity Fund is a central pillar of the UK government’s Levelling Up agenda and provides £2.6 billion of funding for local investment by March 2025. The Fund aims to improve pride in place and increase life chances across the UK investing in communities and place, supporting local business, and people and skills.

An allocated £1.6 million has been awarded to us to invest in local projects until March 2025. An investment plan was submitted to the government which supports local business, communities and local people through the 5 projects below, this was approved at Full Council in July 2022.

The 5 projects are:

  • Green Business Grant - A competitive grant programme to help Teignbridge based businesses invest in decarbonising their assets and operations leading to reduced energy costs
  • Violence prevention against women and girls - A preventative scheme that can have a measurable impact on violence rates and addressing harmful sexual behaviour and exploitation 
  • Business support for clean growth and diversity - This programme would include a focus on harder to reach groups, neurodiversity and supporting women in business
  • Markets and town centres promotion and coordination - Promotion of Teignbridge towns to help increase visitor and footfall numbers
  • Exhibiting, performing and participating in art - A competitive grant scheme aimed at enhancing Teignbridge's opportunities to experience and participate in all forms of arts. 

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