UK Prosperity Fund
UK 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 by investing in communities and place, supporting local business and providing opportunities to boost people and skills.
UKSPF has replaced the European Structural and Investment Funds (ESIF) such as the European Regional Development Fund (ERDF) and the European Social Fund (ESF). These funds previously helped support job creation, skills programmes, innovation and carbon reduction in the city-region.
The main aims of UKSPF are to:
- Boost productivity, pay, jobs and living standards
- Spread opportunities and improve public services
- Restore a sense of community, local pride and belonging
- Empower local leaders and communities
The Council’s UKPSF allocation for each year between 2022 and 2025 is as follows: Year 1 22/23 Year 2 23/24 Year 3 24/25 £0.371m £0.741m £1.941m
The Council has agreed through previous Council reports to spend £2.167m of the total £3.053m across the three years of the fund.
Case Studies of fund investment:
Here are a few examples of of projects where funding was invested in from Rugby's UKSPF funding allocation.
Albert Street Hoarding Project - 2024
UKSPF funding went towards the rejuvenation of Albert Street Hoarding, following vacated Council Premises on Albert Street. A local artist was commissioned to engage with the local community to create a mural and painted on to the hoarding, for a brighter street scene along Albert Street, and bring to life the local community’s visions of Rugby.
Solutions Services Ltd – June 24
UKSPF funding, in partnership with Warwickshire Growth and Skills Hub went towards training opportunities for Rugby based Employer, Solutions Services Ltd, to fuel continued growth as it marked its 20th anniversary.
Sarah Parrin founded Solutions Services Ltd in a small office on Spring Street, Rugby, in 2004, which has evolved into a leading commercial cleaning and facilities management company.
The business, now headquartered in offices and a warehouse at Glebe Farm Industrial Estate, has grown its customer base to 108 across Coventry and Warwickshire and employs 63 dedicated members of staff.
With plans to further increase its workforce and invest in employee development, Sarah has emphasised the importance of skill enhancement and career progression within her team.
Sarah said: “We are proud of our 63 staff members and plan to expand by another 10 to meet the demands of our growing customer base.
Our partnership with Adam Plumb from the Coventry and Warwickshire Growth Hub has been invaluable. He regularly informs us of available funding opportunities that support our focus on staff development. It’s crucial for me to ensure that everyone has the chance to improve their skills, whether they continue with us or move on to other opportunities.”
Thanks to the Warwickshire County Council Apprenticeship Levy Share Programme, Solutions Services has been able to provide significant training for its team.
Payroll Administrator Sarah Peabody is now undertaking a multi-media marketing course, while Contract Manager Kate Hutt is pursuing an NVQ Level 5 in Operations Management.
Additionally, HR Manager Stacee Callaghan is embarked on her second apprenticeship, working towards an NVQ Level 3 in HR Management with Warwickshire Skills Hub providing further support with an Apprenticeship Progression payment of £1,000.
Sarah believes that investing in her employees is key to the company’s success.
Adam Plumb, Account Manager for Rugby at the Coventry and Warwickshire Growth Hub, praised Solutions Services as a cornerstone of the local economy.
He said: “SMEs are crucial to the growth of any local area, and Solutions Services has steadily expanded over the last 20 years to employ people from Rugby and the surrounding area.”
The programme has benefitted Solution Services and they have been able to create inclusive employment opportunities and make reasonable adjustments throughout the interview stage, as well as when they join the workplace.”
Further information about Warwickshire Skills Hub can be found at: skillshub.warwickshire.gov.uk
Leo Associates – November 23
A Rugby based exhibitions and events agency celebrated its 35th anniversary and used UKSPF funding to transform its offices after receiving the grant support.
Leo Associates, in Somers Road, Rugby, was set-up in 1988 by John and Julia Smith and their sons, Neil and Ross, now run the company following their retirement during Covid-19.
The business specialises in designing and building bespoke exhibition, conference and event spaces for large blue-chip companies in the pharmaceutical, aerospace, defence and oil & gas industries throughout the world from Australia to India and from the Middle East to South America.
Over the last 35 years, Leo Associates has completed more than 3,500 projects which has taken over one million fabrication hours, and has visited over 100 destinations to install its cutting-edge creations.
Neil contacted the Coventry and Warwickshire Growth Hub to enquire about business support and grant funding programmes to help support the cost of an office refurbishment and fit-out project.
Adam Plumb, the Rugby Account Manager at the Coventry and Warwickshire Growth Hub, put Neil in touch with Rugby Borough Council and Coventry City Council.
The result was Leo Associates receiving £45,000 from the Government’s Additional Restrictions Grant (ARG) from Rugby Borough Council and £5,780 from the Business Support Programme run by Coventry City Council which was funded via the European Regional Development Fund and came to an end in June.
The business, which invested around £50,000 itself, has created an open-plan office with new vinyl flooring, new furniture and a new meeting room, bought further ICT equipment, installed a new frontage and redecorated its kitchen.
Neil Smith, Projects Director at Leo Associates, said the renovations provided better working conditions for its 16-strong staff as well as a more welcoming environment for customers visiting their premises.
He said: “Ross and I have worked here since we were teenagers from the warehouse upwards and we have been running the business for the last seven years before our parents officially retired during Covid.
“Like many events businesses, we were affected badly by Covid and we diversified into holding virtual events but we have recovered well, retained all of our pre-pandemic staff and have taken on a new designer and project manager.
“The grants have helped with the infrastructure of our building because we hadn’t had a re-fit for over a decade.
“After Covid, we wanted to make improvements and without the grants we wouldn’t have been able to carry out all the work.
“The re-fit has made this a much more contemporary working environment in line with the ethos of our agency and we have also created an additional meeting space which has met with a positive response from our clients and staff.
“The business has also invested in creating a gym so we have a personal trainer who comes in twice a week to run sessions for everybody which is important from a mental health perspective.”
Adam Plumb, Account Manager at the Coventry and Warwickshire Growth Hub, said Leo Associates’ new-look offices are really smart.
“Without the grants, Leo Associates would only have been able to carry out half the work which emphasises the importance of this type of funding,” he said.
“We are here to signpost companies in all sectors to receive the help and support they need for all areas of their business and it is great that Leo Associates’ future is looking promising once again following the pandemic.”
Cllr Carolyn Robbins, Rugby Borough Council portfolio holder for finance, performance, legal and governance, said: “The council secured nearly £1 million in Additional Restrictions Grants to support borough businesses with robust, post-pandemic plans for growth.
“The office refit has brought benefits to both staff and customers of Leo Associates, and the council, working in partnership with the Growth Hub, was delighted to support the company in realising its ambitions.”
“The refurbishment project has been done to a very high standard and has transformed the office space and overall made the office a smarter, modern, and more attractive place to work and visit. I am pleased to have been able to support LEO Associates with their plans and wish them the best of luck for the future.”
Stonewall Group – May 23
A forward-thinking business in Rugby, Stonewall Group, helped to secure its future after receiving two grants from UKSPF funding to go green.
Clare Randall, Director at Stonewall Group who runs the business with her husband, Martin, contacted the Coventry and Warwickshire Growth Hub for advice on applying for grants towards electric vehicles and installing solar panels after attending their networking events and seminars.
Adam Plumb from the Coventry and Warwickshire Growth Hub put Clare in touch with Rugby Borough Council and the Coventry and Warwickshire Green Business Programme, which is part funded by European Regional Development Fund and delivered by Coventry City Council, Coventry University and Coventry University Enterprises.
Stonewall Group received nearly £50,000 from the Government-funded Additional Restrictions Grant (ARG) which was administered by Rugby Borough Council towards buying two electric vehicles as well as over £3,000 towards installing solar PV panels at its premises from the Green Business Programme.
Clare said:
"The grant support had been a big help towards helping Stonewall Group to become more environmentally friendly and was already paying dividends.
“We have grown into a well-known local and respected security provider through Stonewall Security since we have provided manned and electronic security to businesses for nearly 15 years.
“Introducing Stonewall Vaults was our response to the increasing personal security challenges in our current times and means we have become a one-stop shop across Coventry and Warwickshire."