Grants between £5,000 and £15,000 are available to eligible businesses who meet the criteria.
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.
For full details about the grants, eligibility criteria and how to apply, please visit https://www.wolverhampton.gov.uk/business/employersupport/uk-shared-prosperity-fund
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.”
Applications for both grants are on a competitive basis, subject to availability of funds, and distributed at the discretion of the council.
If you need help with your grant application or have a general query, you can get in touch by emailing business.development@wolverhampton.gov.uk or calling the business support phone line on 01902 290242 between 9am and 5pm from Monday to Thursday or from 9am to 4.30pm on Fridays.
