Over £1million invested in Telford and Wrekin business through Thrive Telford grants

5th December 2024

Today, during Telford & Wrekin Council’s cabinet meeting, it was highlighted that the Thrive Telford programme has now allocated over £1 million in grants to local businesses, supporting over 200 projects. Funded through the UK Shared Prosperity Fund (UKSPF), the programme was commended for its significant contributions to local business growth.

Delivered by Invest Telford, the council’s business support and inward investment team, the Thrive Telford programme continues to impact the borough by funding initiatives across innovation, exports, business advisory services, the Marches Energy Grant (MEG), and upskilling opportunities. This financial support remains vital to the growth of SMEs and start-ups in the borough.

Key achievements include:

• 174 grants issued across small, large and business development grant programmes.
• 22 businesses benefiting from energy assessments, making them eligible for renewable energy project grants.
• 170 residents received support on starting a business, resulting in over 40 new start-ups through the programme.

The Council received funding via the UK Shared Prosperity Fund. During the cabinet meeting, it was emphasised that the remaining funding will be fully allocated to benefit borough businesses. With all funding needing to be allocated by March 2025, businesses are encouraged to apply for the remaining grants while funds are still available.

Additionally, it was announced during the Central Government budget statement that further UKSPF funding will be made available. The council awaits further details from the Department for Levelling Up, Housing & Communities (DLUHC) on allocations for 2025/2026 with updates to follow soon.

Councillor Ollie Vickers, Telford & Wrekin Council, Cabinet Member for Economy, said, “The cabinet is pleased with the Thrive Telford programme’s achievements to date. We remain committed to supporting local businesses and ensuring that every pound of funding is used effectively to boost growth and innovation in our borough.”

Amanda Murray, Producer at Ghost Dog Films, a beneficiary of the export grant made available via the Thrive Telford programme, said: “We were delighted to have received support from Invest Telford in the form of an Export Grant which enabled us to create localised subtitles for our feature film and video game.

Through localisation, we have been able to attract new players for our game and viewers for our film in those geo-targeted locations, which has resulted in increased sales. Making our creativity more accessible enables us to not only grow our audience but compete on a global scale.

The whole process for the application was simple and straightforward and we were well supported by the Invest Telford team.”

For the latest news and information on Thrive Telford grants, including programme availability and how to apply, visit www.investtelford.co.uk/thrive-telford