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Tue 5 November 2019
On Friday 1st November, the government made the announcement that they were re-opening the Rural Growth Programme; £35 million has been allocated to provide grants for small rural businesses to create jobs and growth in the rural economy.
Those that are interested in expressing interest in the available funding will be able to do so from today until Sunday 16th February 2020; businesses that express interest must have a working project idea as well as information on how they meet the criteria for the scheme; from creating new jobs, increasing business turnover and improving productivity.
Interestingly, the threshold for the Rural Growth Programme has been lowered from a minimum of £35k to £20k, allowing smaller and micro-business projects to benefit from the opportunity.
Speaking about the funding, Charles Raine, Director and grant funding specialist at youngsRPS said: “This is a fantastic opportunity for small rural businesses to achieve their ambitious growth plans. Items such as machinery and equipment are expensive and are often a necessity to drive business further forward; this grant has been reopened in order to help those businesses invest, not only unlocking their full potential, but adding value to the local economy through recruitment and tourism. This funding is of course available for farming businesses but also for other rural businesses such as, but not limited to, cafes, tourist attractions and hotels. We urge businesses to consider expressing interest as soon as possible to allow for a comprehensive full application to be completed if their project is deemed as eligible.”
The future of funding in agriculture is unclear, therefore, it is vital to take opportunities like this when they are available, enabling you to safeguard your business and plan for the future. As busy business owners and farmers, we are aware that applying for funding can be a lengthy process, complicating getting on with the job in hand; we always advise to enlist the help of a professional to ensure that you achieve the best possible outcome. Our team of experts are well versed on the industry and can help with time-consuming tasks, such as processing relevant paperwork to make sure you receive the maximum payments you are entitled to.