Decision details

Proposed pooling of £205,705 from the UK Shared Prosperity Fund in relation to Business Support with other Suffolk councils and the New Anglia Local Enterprise Partnership.

The district and borough Councils in Suffolk have each been allocated UK Shared Prosperity Funding from DLUHC for Supporting Local Business and it is proposed to collaborate on the delivery of the Supporting Local Business interventions and pool funds from the Councils, Suffolk County Council and the New Anglia Local Enterprise Partnership.

To enable the pooling of funds it is proposed to enter a Memorandum of Understanding which will set out the terms upon which the parties will work together.

To enter into the Memorandum of Understanding and agree to the pooling of a proportion of the monies received from UKSPF for business support with the parties listed in paragraph 1 ii) of the decision notice for the years 2023/24 and 2024/25 in the sum of £205,705.

Reason: To enable the collaboration on the delivery of Supporting Local Business Interventions – (E23 ‘Strengthening local entrepreneurial ecosystems and supporting businesses at all stages of their development to start, sustain, grow and innovate, including through local networks’ and E30 ‘Business support measures to drive employment growth particularly in areas of higher unemployment (the Intervention)’) by pooling the monies received by the Suffolk local authorities from central Government.

Please note that this decision has been exempted from call-in as the decision to enter into the MOU is urgent as a procurement needs to take place to employ the services of a third party to achieve the objectives of the MOU for the years 2023/24 and 2024/25 and any delay in the procurement may prejudice this.