What Does “levelling up” Mean in Practice for Small Businesses in the North of England
“Levelling up” is a UK government policy aimed at reducing economic differences between richer areas (like London and the South East) and poorer regions such as the North East of England. The goal is to help those regions grow economically, create jobs, and improve infrastructure and opportunities.
For small businesses in the North East, it usually means more support, investment, and opportunities to grow locally. Here’s a few more specifics:
1. More government funding and grants
Programs linked to levelling up (such as the UK Shared Prosperity Fund) give money to local councils and organisations to support businesses, skills training, and local economic growth.
For a small business this could mean:
• Grants for starting or expanding a business
• Funding for innovation or digital upgrades
• Support for hiring or training staff
2. Investment in town centres and local areas
Money is being used to regenerate high streets, waterfronts, and industrial areas. For example, projects in the North East have received millions to redevelop town centres and improve economic activity.
How this helps businesses:
• More visitors and customers in town centres
• New commercial spaces and facilities
• Increased tourism or footfall
3. Better transport and infrastructure
Levelling up also includes investment in transport, housing, and digital infrastructure in the region.
For businesses this can mean:
• Easier access for customers and staff
• Better logistics and supply chains
• Improved broadband and digital connectivity
4. Local decision-making and regional investment
The North East has received a £1.4 billion devolution deal giving regional leaders more control over things like skills training, transport, and economic development.
This can benefit small businesses through:
• Local skills training tailored to regional industries
• More targeted support for local sectors
• Regional investment strategies
In simple terms:
For a small business in the North East, levelling up means more public investment and support aimed at helping the local economy grow, so businesses have more customers, better infrastructure, and access to funding and skilled workers.
