The funding is open to small and medium-sized enterprises (SMEs) in the Cumberland area and is supported by the UK Shared Prosperity Fund (UKSPF) and the Rural England Prosperity Fund (REPF).
Cumbria Business Growth Hub, the business support arm of Cumbria Chamber of Commerce, is delivering the scheme in partnership with The Farmer Network.
It offers a package of financial support and advice to help businesses grow, diversify, and improve productivity across all sectors.
Lesley Robinson, head of business support at Cumbria Chamber of Commerce, said: “We’re delighted to be delivering this much-needed funding to businesses across the Cumberland area.
“This scheme – supported by Cumberland Council’s UK Shared Prosperity Fund and Rural England Prosperity Fund – builds on our successful delivery of similar grant schemes in previous years.
“It enables SMEs in all sectors to access a range of different funding options to suit their needs.
“We anticipate a strong response to this opportunity and are committed to supporting as many local businesses as possible.”
The scheme covers SME businesses in all sectors across the the full Cumberland Council area, including the former districts of Allerdale, Carlisle, and Copeland.
Support is available until February 20, 2026, with all grant funding to be spent and claimed by January 31, 2026.
Capital grants of between £10,000 and £35,000 are available through the REPF for purchasing equipment or machinery, upgrading business premises, investing in tourism heritage assets, or supporting farm diversification projects.
These grants cover up to 50 per cent of total project costs, up to the maximum grant limit.
A total funding pot of £360,000 is on offer.
Revenue funding of up to £5,000 is also available through the UKSPF to cover consultancy costs in areas such as marketing, legal services, HR, planning, and sustainability.
Businesses can also access advice vouchers worth £500 or £1,000 to work with a consultant of their choice.
No match funding is required, but businesses can contribute their own funds to access additional consultancy support.
The vouchers can be used for services including accountancy, website development, agricultural consultancy, export consultancy, and mentoring.
The scheme also includes business survival support, offering one-to-one advice and a programme of workshops.
Topics covered include export planning, business essentials, financial management, crisis cashflow, leadership, market retention, cost control, business resilience, and supply chain development.
Farming businesses are also eligible for the wider programme but can access dedicated workshops on agricultural topics delivered by The Farmer Network.
Details of these workshops and booking information will be announced soon.
Full eligibility criteria, application forms, and further details on the funding and advice available are listed on the Cumbria Business Growth Hub website.
Ms Robinson said the scheme is expected to see high demand from SMEs looking to boost their operations in the coming months.
The latest round of funding builds on previous schemes delivered by the Growth Hub.
The UK Shared Prosperity Fund is a central government programme designed to support economic growth, business resilience, and job creation in communities across the UK.
The Rural England Prosperity Fund provides additional support for rural areas, with a focus on boosting productivity and promoting diversification.