There is a new source of grant funding available across the South West to businesses operating in rural areas. This is European Agricultural Fund for Rural Development (EAFRD) funding and it is now available to support projects that increase rural jobs, growth and productivity in rural areas.
Rural businesses and organisations can now apply to the Rural Payments Agency (RPA) for grants through the Rural Development Programme for England (RDPE) Growth Programme.
The grant funding is broken down by LEP area, with the Heart of the South West LEP having £12.4M available, and the West of England LEP £1.4M available. Between the two they cover Devon and Somerset.
Funding is split across three specific strands, with the details of funding available and grant levels based on the Heart of the South West LEP area:
They are primarily focused on supporting capital investment (buildings, plant, machinery etc.), with a typical intervention rate of 40%. With the minimum grant levels as noted above, that would mean projects with a minimum capital spend of above £87,500 are going to be eligible. In addition, projects will have to meet certain priorities, for example, for general business development at least 2 of the following 5 need to be achieved:
The Food Processing and Rural Tourism grants have slightly different priorities, but are on a similar theme.
There is a competitive and two-stage application process, comprising an expression of interest and a full application. Match-funding is also required. Further details of funding opportunities and how to apply for each of the above three grants are available HERE.
If you want to know more or need assistance with a view to maximising your chances of making a successful application, do let me know.
You are now leaving the Thomas Westcott website. Thomas Westcott is not responsible for the content of the PrimeGlobal website nor the content of the websites of other independent member firms of PrimeGlobal. Equally, PrimeGlobal is not responsible for the content of the websites of independent member firms, including the Thomas Westcott website.Go to site