Issue - meetings

The Business Growth Manager presented a report to the Committee to provide members with an update on the projects being delivered by the Economic Development Team with funding from the UK Shared Prosperity Fund (UKSPF).

The Council had received an allocation of £1,963,993 covering October 2022 – March 2025, of which £789,212 was allocated to five projects which were being delivered by the Economic Development Team.  Listed on the document was a breakdown of the allocation of funding for each project followed by an update of activity and expenditure, which had taken place in the 12-month delivery period up to 31^st March 2024.  These five projects were as follows:

·       Tourism and Culture;

·       Business Growth Grants Scheme;

·       Net Zero Hyper Local Innovation programme;

·       Small Business Support Scheme; and,

·       Visitor Economy Business Support.

The Business Growth Grants Scheme had proved incredibly successful with 40 Grants awarded up to the end of March 2024.

The Chair asked if it was possible to know the sectors that had not been successful in their bids for funding.  The Business Growth Manager explained this was confidential data unless those businesses were happy to share this information as part of a case study exercise, though stripped back and anonymised sector-by-sector data could be provided to the Committee.

Moved by Councillor Will Fletcher and seconded by Councillor Duncan Haywood

RESOLVED that the report be noted.