Zara Munkley has been working at Qimtek since September 2023, focusing on the production side - with publishing projects and data cleaning. With an MBA from Kingston University in 2019, she is keen on learning and deepening her understanding of the manufacturing and supply chain businesses. Zara is strongly interested in data, research, analysis, and operational processes.
Introduction
As we close a challenging year for the manufacturing industry, there is a promising opportunity on the horizon for micro, small, and medium enterprises (SMEs) across the UK. The UK government has allocated £2.6 billion through the UK Shared Prosperity Fund (UKSPF), a significant investment aimed at supporting local businesses, boosting skills, and addressing unexpected costs. At Qimtek, we are fully committed to championing UK manufacturers and want to ensure our members are informed about how this grant can benefit their businesses.
We believe 2025 can be a year of positive change for the industry, and we’re here to help you make the most of opportunities like this. If you have questions or need guidance on how to navigate the application process, don’t hesitate to reach out.
What Is the UKSPF and Why Is It Important?
The UK Shared Prosperity Fund is part of the government’s effort to strengthen local economies, support people and skills, and reduce inequalities. For manufacturers, these grants provide a lifeline to navigate ongoing challenges and position their businesses for success in 2025.
Each region and council in the UK will receive specific funds from the overall £2.6 billion distribution. This means the exact amount available to businesses will vary depending on your local authority. These grants can be used for a variety of purposes, including:
- Upskilling and training your workforce
- Investing in operational improvements
- Covering unforeseen expenses
Given the tough year that manufacturers have faced, these grants represent an opportunity to turn the page and kickstart growth in the new year.
Why Should Qimtek Members Pay Attention?
As Qimtek buyers and suppliers, you know first-hand the challenges the industry has endured. We’ve seen businesses grapple with rising costs, supply chain disruptions, and other hurdles. The UKSPF grants are a step toward alleviating these pressures. Whether you’re looking to invest in skills development, upgrade equipment, or manage additional expenses, this funding could be a game-changer.
We strongly encourage our members to explore how much funding is available in their region. Applications are open until March 2025, but acting sooner rather than later ensures you have time to understand eligibility criteria and prepare a strong application.
The UKSPF Prospectus Guide
To further assist businesses, the government published the UKSPF Prospectus Guide for 2025-26: Technical Note on December 13, 2024. There is also a published document on UKSPF Allocations for 2022-2025, which was updated on December 13, 2024. Both documents provide detailed information about the fund’s objectives, eligibility criteria, and application process. Reviewing these guides is a crucial step in understanding how the grants can work for your business.
Regional Allocations and Additional Information
Figures below were taken from the UKSPF allocations (2002-2025) website that detail the allocations for England, Scotland, Wales, and Northern Ireland. For a more detailed breakdown of the sums allocated to each region, please visit the UK Shared Prosperity Fund: Prospectus. This resource provides clarity on how the funds are distributed and helps businesses identify opportunities in their specific areas.
