What the government's new 5bn programme means for small businesses - London Business News | Londonlovesbusiness.com
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What the government's new 5bn programme means for small businesses - London Business News | Londonlovesbusiness.com
"Under the programme, 169 areas across the UK will receive £2 million a year for a decade, while 95 additional areas will get immediate funding to improve public spaces. Local communities will decide how to allocate this money, whether that's restoring a park, creating new green spaces, revitalising the high street, or supporting community hubs. For small business owners, this could be more than just a civic improvement project."
"In towns like Eston, Elgin, and Blyth, residents are already consulting businesses to shape the projects, meaning there's a chance for proactive entrepreneurs to be part of the transformation from the ground up. In Newark-on-Trent, there are quite a few vacant town centre units being converted into housing, for example, which could generate demand for local construction, interior design, or cleaning services. In Torbay, a heritage trail inspired by Agatha Christie is planned, which could boost local tourism-related businesses, from cafés to gift shops."
Pride in Place is a £5 billion UK programme that directs funding and decision-making to local communities to revitalise public spaces and high streets. The scheme gives 169 areas £2 million annually for ten years, while 95 additional areas receive immediate funding for public-space improvements. Communities can choose projects such as park restoration, new green spaces, high-street renewal, or community hub support. Small businesses — cafés, gyms, retailers, tradespeople, and professional services — can gain from increased footfall, investment, and engagement. Examples include consultations in Eston, Elgin, and Blyth, vacant unit conversions in Newark-on-Trent, and a heritage trail in Torbay.
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