£110m of Funding Support for Rural Businesses - Blog

£110m of Funding Support for Rural Businesses

£110m of Funding Support for Rural Businesses

Rural George F. White 15th September 2022

Department for Environment, Food & Rural Affairs (DEFRA) and Department for Levelling Up, Housing and Communities (DLUHC) have announced the Rural England Prosperity Fund - £110 million of funding to support rural businesses that can bring further benefit, such as job creation and tourism, to the local community.

Lord Benyon, the Minister for Rural Affairs said: “We are addressing the rural productivity gap, levelling up opportunities and outcomes, and looking after the rural areas and countryside that so many of us are proud to call home. The Rural England Prosperity Fund worth up to £110m recognises the unique strengths and challenges of rural communities and will support them to invest and grow their economies in line with local priorities.”

Examples of projects that may be funded

·         Creation or expansion of venues for accommodation, wedding venues, leisure facilities etc.

·         Installation of boarding kennels, liveries, pet health venues

·         Purchase of processing and packaging machinery

·         Improving domestic kitchen to commercial viability

·         Creation of rural hubs

·         Capital investment for net zero infrastructure e.g. EV charging points

·         Support for local communities to fund improvements for disabilities and fund local art, museum, gallery hub areas

Allocation of funding

The Rural England Prosperity Fund will be delivered by eligible local authorities, giving local leaders more control over investment than under previous EU schemes. The local authorities will also be responsible for setting funding levels and intervention rates. Each local Authority or district has been assigned a set amount of the fund with a few examples below:

·         Allerdale - £1,298,210

·         County Durham - £3,512,301

·         Carlisle - £474,841

·         East Riding of Yorkshire - £1,801,827

·         Eden - £1,051,689

·         Northumberland - £3,043,546

·         North Yorkshire - £5,417,114

·         South Lakeland - £1,137,962

·         Tees Valley (Redcar and Cleveland) - £624,909

·         West Yorkshire - £2,567,501

Expected Timeline

We expect the application window to open in the coming months; if not early next year as the fund works its way through the local authorities and they can then start allocating/spending the money as of April 2023.

This another great opportunity for farmers, rural businesses and rural communities to diversify and improve. If you would like further information or advice on this scheme, please get in touch with Elliot Taylor or Jamie Oliver.

Click to email Elliot Taylor | 07590 445301

Click to email Jamie Oliver | 07595 057140

                                

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