The UK Shared Prosperity Fund (UKSPF) was a key part of the UK government’s ambition to level up communities by improving pride in place and increasing life chances across the country. The fund invested in 3 priority areas:
- Communities and Place
- Supporting Local Business
- People and Skills
Alongside UKSPF, the Department for Environment, Food and Rural Affairs’ Rural England Prosperity Fund (REPF) provided targeted investment to address the specific economic challenges faced by rural areas.
From 2022, we successfully secured £6.104 million through UKSPF and REPF. Our investment plan focused on strengthening town centres, supporting businesses and rural communities, and enhancing skills and employment opportunities for local people. Funding was delivered up to March 2026, achieving outcomes across all three UKSPF investment priorities.
Support for local businesses
Programme impact
Our UKSPF programme concluded on 31 March 2026, with 100% of allocated funding delivered, transforming investment into tangible benefits for our communities.
An independent economic impact assessment covering activity since April 2023 estimates the programme has delivered:
- £9.25 return on investment for every £1 of funding received
- £1.67 million invested by local businesses in research, development and innovation
- 273 jobs created through direct and indirect programme activity
- £7.62 million saved over 3 years by supporting people to move from unemployment into work
A UKSPF highlights sheet is also available, summarising key outputs and outcomes achieved since the programme began in 2023.
Programme highlights
Between 2023 and March 2026, our UKSPF programme delivered wide ranging benefits across communities, businesses and individuals.
Communities and Place
- £820,000 invested across nine town centre capital investment projects and community led activity plans
- 45,070 square feet of vacant high street commercial space refurbished and brought back into use
- 55 community led projects delivered, including 15 cultural projects
- 26 highways improvements supporting safety, accessibility and flood resilience
- 138 town council and community group staff trained in carbon literacy
- 3 new local community energy companies established
- 55 households supported to improve energy efficiency
Supporting Local Businesses
- 160 new jobs created
- 97 new enterprises established
- 1,381 businesses supported, including 859 rural businesses
- 15,849 hours of business support delivered
- 140 business grants awarded, distributing £576,112.68
- 38 business decarbonisation plans developed and progressed
People and Skills
- 114 people supported into employment, including self employment
- 292 people received employment support
- 289 people supported to access basic skills
- 153 people supported to sustain employment
- 360 staff and students trained in green skills
Final summary report, March 2026 (Word, view in browser or download)
Find out more about UKSPF
Contact
If you would like further information about business support available through UKSPF, email: businesssupport@centralbedfordshire.gov.uk.
