Putting together any programme of work requires funding. This may be to create capacity, commission delivery partners or create grant and loan pots.
Currently the most appropriate sources of funding for this are mayoral combined authorities’ gainshare funds or the UK Shared Prosperity Fund (UKSPF). The current round of UKSPF runs to 31 March 2025 so it may be too late to use this source but there may be opportunity to use underspends in existing programmes. We don’t yet know what will come after this funding.
The UKSPF programme prospectus identified a series of intervention areas under three pillars:
- Communities and place
- Supporting local business
- People and skills.
Under Pillar 2 one intervention (E26) specifically targeted “Support for growing the local social economy, including community businesses, cooperatives and social enterprises” (E26). That said there is no reason why cooperatives should not attract funding committed under other interventions including under the communities and skills pillars.
Where local objectives relate to service priorities within the council or another anchor organisation there should be a business case to invest in a cooperative programme or part of one. This may form match funding that supports a bid for other funds.
Keir Starmer’s government won their mandate based on a manifesto that included a commitment to double the size of the UK’s cooperative sector. This could see specific funding but may also see funding of pilot projects across a number of thematic programmes and separate government departments.
