UK Shared Prosperity Fund

Last Updated: 22 June 2022

The UK Shared Prosperity Fund (UKSPF or the Fund) is part of the Government’s Levelling Up agenda. It provides £2.6 billion of new funding for local investment by March 2025. All areas of the UK will receive an allocation from the Fund via a funding formula. The fund replaces the current EU structural funds, which will have finished by the end of 2023.

The primary goal of the Prosperity Fund is to help build pride in place and to help to increase life chances across the UK.

We are responsible for preparing an Investment Plan for the Fund. We have to submit this plan to the Government by 1 August 2022, to secure a 3-year core funding allocation of £3.8m.

We want relevant organisations to submit proposals to become a delivery partner. Any organisation that has legal status can participate and receive funding, including arms-length bodies of government if appropriate.

These proposals will help to guide our Investment Plan and understand how we can work with partners to deliver in South Lakeland.

Funding available for projects in South Lakeland

We are getting an allocation of £3.8m from the government, to be invested over the next three years. The funding is allocated annually. The majority of funding will be available in the final year of the programme, as EU structural funds in the community come to an end. Some of this allocation may be used for programmes which deliver across more than one local authority area, or by us for direct delivery of programmes.

To help direct where this funding should be made, we are developing an investment plan.

We are asking organisations across South Lakeland to submit proposals to us, for projects that deliver support in our communities. We are also looking for organisations who are interested in working with us to share their insight and knowledge and help us to shape our plan.

Wider economic opportunities

We will also consider proposals for projects that link with wider economic opportunities beyond South Lakeland, so that we can strengthen the delivery of local outcomes.

Eligible projects

We are looking for proposals from organisations in the community, charity, voluntary or business support sectors.

Projects must meet the requirements of the funding programme and support the growth and prosperity of South Lakeland. They should align with one or more of the three priorities of the UK Shared Prosperity Fund which are:

  • community and place
  • supporting local business
  • people and skills

Think carefully about the capital and revenue requirements of your proposals before you complete the form.

We are encouraging proposals from organisations who have a track-record of delivery in their field and enough capacity.

How you can use the funding

Funding must be used for either:

  • provision that is in addition to what is already available
  • to replace key spending that may not be available in future years

Projects do not have to be fully costed at this stage of the process.

Submit a proposal

Given the level of interest and the limited funding available, we think there will be a high demand for funding. Any proposals we receive will be considered against prioritised needs.

You can submit an expression of interest up to Wednesday 29 June 2022.

To submit a proposal, please email mehak.wahid@hatch.com and copy in econ.dev@southlakeland.gov.uk. If you want to submit more than one proposal, let us know in your email and we will set up a separate link for each proposal.

Before you submit a proposal, please refer to the following guidance:

If you have any questions you can contact us using the details below.