2 minute read
Businesses in Royal Greenwich grow from strength to strength thanks to UPKSPF government support
The Royal Borough of Greenwich continues to deliver business support to local SMEs and nonprofits in its mission to create an inclusive local economy built on enterprise, equity and strong social value.
The extension of the Government’s UK Shared Prosperity Fund (UKSPF) to March 2026 has provided another £191,000 for business support. This will enable the council and its delivery partners to maintain support for startups, stimulate high street spending, develop the cooperative sector, strengthen local supply chains and expand the number of accredited London Living Wage small businesses.
Since 2022, UKSPF has enabled Royal Borough of Greenwich’s cooperative approach to community wealth building, including support for food businesses hit hard during Covid and the cost-of-living crisis, a generative startup programme which provides seed funding and help the local supply chain do more business with the council and Anchored in Greenwich partners.
Over 900 local businesses have received advice and guidance, and 106 grants have been issued. A total of £30,000 has been paid directly since September 2024, with fifteen local businesses and community interest companies receiving microgrants in March this year –ranging from £500 to £1,000 – for equipment, materials, supplies, venue hire, training, volunteer expenses, community engagement, website development and even essential items for families in need.
There have been 32 grants awarded to local businesses for achieving London Living Wage accreditation via UKSPF and Royal Borough of Greenwich will be proudly supporting London Living Wage Week this November.
The council runs a series of Business Breakfasts, a free quarterly networking forum centered on a particular theme –such as sustainability, procurement and most recently, artificial intelligence – connecting local entrepreneurs and the third sector.
Gary Parker of CNT Associates, commissioned by the Royal Borough of Greenwich to deliver support to businesses with a social purpose, was guest speaker at the event in July, which coincided with Cooperative Fortnight. CNT Associates has supported 45 non-profit startups and businesses so far, setting up eight new businesses last year and a grant programme which has allowed 25 organisations to access up to £2,000. This support has led to further success: Rooted Wisdom is an educational and youth development initiative specialising in anti-racism, Black British culture, family and individual therapy and mentoring. CNT Associates helped Rooted Wisdom develop an income development strategy and facilitate fundraising, including a £19,000 grant from the National Lottery.
UKSPF has resulted in over £600,000 capital investment in town centres and local shop parades, with improvements made to Cutty Sark Gardens in Greenwich, Leslie Smith Square in Woolwich and Arnott Close in Thamesmead. Cutty Sark Gardens had extensive lighting installed to improve visibility after dark. Leslie Smith Square was landscaped to transform an unused paved area into a vibrant children's play zone with planters introduced to separate it from the carpark. Arnott Close had a bespoke module ramp installed from Titmuss Avenue to the shop parade forecourt to improve accessibility, particularly for wheelchair users. Royal Borough of Greenwich collaborated with Greenwich Co-operative Development Agency and Peabody to involve the local community in the co-design. The series of Eltham Weekender events, organised in conjunction with the Eltham Town Centre Partnership, not only attracts more people to the town centre but encourages visitors to shop locally and extend their stay to support the nighttime economy. UKSPF has also supported a way-finding programme, in partnership with Visit Greenwich and Volunteer Centre Greenwich, to recruit volunteers who help visitors navigate their way to Greenwich town centre whilst the Cutty Sark DLR station is closed for an escalator upgrade.
Councillor Jackie Smith, Cabinet Member for Inclusive Economy, Business, Skills and Greenwich Supports said: “We are committed to providing secure job opportunities, creating vibrant and prosperous high streets, attracting high value business and strengthening the voluntary and community sector.
“The UK Shared Prosperity Fund has had a very real impact across the board, from enabling entrepreneurial endeavours to improving public spaces, providing financial support to helping employers pay their staff livable wage. It has been crucial in kickstarting economic growth and fostered a collaborative and empowering approach to business which has direct benefits to local people.”
Stay up to date with business news in Royal Greenwich: royalgreenwich.gov.uk/business-bulletin
