The Forest of Dean District Council has allocated £79,000 from the UK Shared Prosperity Fund (UKSPF) to support the Growth Hub to create new jobs and support local businesses.
Cabinet member for the Economy, Bernie O’Neill said, “Job creation and business support is a core priority for the Council. We are committed to supporting the brilliant businesses already here in the Forest; but it’s also important to support new start-ups and to attract new businesses and inward investment to the area.
“The Growth Hub is an invaluable resource for supporting and growing businesses, providing advice, signposting and events that help them to grow. This support is vital if we are to create good quality, long-term and sustainable employment opportunities for people locally.”
The Forest of Dean Growth Hub, Mitcheldean opened its doors in October 2021 offering workspace, free business support and events for local businesses. The funding will be used to promote Growth Hub activity, help entrepreneurs get their ideas off the ground, assist new businesses to grow and create more jobs for Forest of Dean. The funding has been provided via year two (2023/24) and year three (2024/25) of the UK Shared Prosperity Fund, which runs to March 2025.
Sarah Danson, Director of Strategic Growth at GFirst LEP added, “I am delighted that Forest of Dean District Council will be supporting Growth Hub activity as part of their UKSPF fund. The Growth Hub is an essential asset for local businesses and our proven track record of success means we are trusted and valued by Gloucestershire’s business community. We look forward to continuing to work with SMEs in The Forest of Dean and helping their businesses to grow.”
The district will receive £1 million from the UK Shared Prosperity Fund across three years. In the first year, £119,000 will be allocated and indicative funding is £240,000 for the second year and £641,000 for the final year.
Nationally, the UKSPF provides £2.6 billion of new funding for local investment by March 2025, with all areas of the UK receiving an allocation from the Fund.
You can find out more about the UKSPF on the Council’s website fdean.gov.uk/spf