Businesses across North Yorkshire are set for a £2.7m boost.

Members of North Yorkshire Council’s executive will meet on Tuesday, July 4, when they will be asked to accept £5.4m from the Rural England Prosperity Fund, which aims to support local businesses, communities and place.

The scheme, which was set up to follow last year’s launch of the UK Shared Prosperity Fund, provides 100 per cent funding for rural communities.

With the money, the council aims to set up a £1.5m grant scheme for micro and small businesses, use £600,000 to help grow the social economy and supporting innovation, and allocate £600,000 to develop and promote the visitor economy.

A further £2.7m from the fund will go on community projects.

North Yorkshire Council’s leader, Cllr Carl Les, said: “This funding represents a significant opportunity for our rural communities. It is the largest amount allocated to any council in the country as part of the Government’s overall Levelling Up programme.”

“The programme’s aspirations to increase pride in their local town centres and engage more with culture and community strongly align with our ambitions along with our plans for sustainable economic growth and support for local area improvements.”