UK Shared Prosperity Fund (UKSPF)

The UK Shared Prosperity Fund (UKSPF) was launched by government on 13 April 2022. Nationally, it provides £2.6bn of government funding between 2022-25 that is central to the Levelling Up agenda. The UKSPF is designed for local places to invest in three key themes:

  • Community and Place
  • Supporting Local Businesses
  • People and Skills

Government has asked lead authorities to develop Local Investment Plans and work with each other at a regional level to explore areas where we have common challenges and opportunities and where it makes sense to think regionally to create a bigger impact.


Funding Opportunities and Calls for Proposals

North of Tyne Combined Authority

Please click here to find out about our current opportunities and the relevant calls for proposals.

Support for Rural Business

The North of Tyne Rural Business Growth Service

In order to support economic growth in rural economies and the economic re-balancing of rural communities, the North of Tyne has established a bespoke offer designed for Rural Businesses.

We will help address the scale up challenges faced by businesses with growth potential in rural areas, supporting them to access suitable finance products, enabling growth and maximising opportunities.

This project is part funded by the European Regional Development Programme 2014-2020.

Support for SMEs

The North of Tyne Growth Fund

Support for SMEs is available for business growth and fostering innovative processes to drive productivity, resulting in increased profitability, wage growth and employment growth.

We aim to assist SMEs with their growth plans ensuring they are viable, create new jobs and deliver results.

Grants are available through our delivery partner UMi to contribute towards the total cost, these start from £40,000 (requiring a minimum total investment of £200k for a medium and £134k for a small business).

This project is part funded by the European Regional Development Programme 2014-2020. 


Inward Investment

North of Tyne Inward Investment

We have £10m available to support businesses looking to invest and create jobs in the North of Tyne and may be able to contribute to up to 10% of your costs.

Grants are available between £100,000 up to a maximum of £1million for foreign or UK owned businesses making a first investment in the area.


Innovation Funding for SMEs

NTCA Innovation Recovery Grant

The Innovation Recovery Grant a new programme designed to help businesses grow by adopting innovative practice or by bringing innovative products or services to market.

The support aims to enable a green and sustainable recovery from COVID-19 by funding projects that have potential to safeguard and create good quality jobs, build a more inclusive economy and / or contribute towards the net zero agenda.

Delivered by our partners NBSL and Innovation SuperNetwork, the grant programme covers 50% of eligible business spend towards Innovation Projects totalling between £10,000 and £20,000 (excluding VAT). Grants of between £5,000 and £10,000 are available.

North East Local Enterprise Partnership

The North East Local Enterprise Partnership (North East LEP) is a public, private and education sector partnership.

One of thirty-eight LEPs in the country, the LEP is responsible for promoting and developing economic growth in the local authority areas of Newcastle, North Tyneside, Northumberland (North of Tyne), as well as County Durham, Gateshead, South Tyneside and Sunderland.

North East LEP Website