Up to £40k capital grants available to support micro and small businesses in rural areas of RushcliffeLast updated: 12/1/2024
Micro and small businesses in rural areas of Rushcliffe can apply for up to £40k funding from the Rural England Prosperity Fund (REPF), supported by the UK Government to help them grow and support the local economy.
Grants of between £5k and £40k are available to fund capital projects meeting one of the following criteria:
- Small scale investment in micro and small enterprises in rural areas including funding for net zero infrastructure for rural businesses and diversification of farm businesses outside of agriculture
- Funding for growing the local social economy and supporting innovation
- Funding for the development and promotion, both trade and consumer, of the visitor economy, such as: local attractions, trails, tourism products more generally.
Projects can cover a broad range of initiatives supporting businesses to grow and examples include:
- Creating and expanding leisure and tourism businesses such as event venues, accommodation or leisure facilities
- Purchasing equipment for food processing for non-farmer-owned businesses
- Diversification of farm businesses
- Creation of business hubs, co-working spaces and business infrastructure such as broadband and electric vehicle (EV) charging points
- Resilience infrastructure and nature-based solutions that protect local
- businesses and community areas from natural hazards including flooding
- Equipment to support the showcasing of local food and drink products such as regional information display boards
- Development of local visitor trails and infrastructure to support this, such as information boards and visitor centres.
Businesses need to apply for the support by 5pm on Friday January 19, 2024 and projects must be delivered in Rushcliffe and organisations must be able to spend their funding allocation between April 1, 2024 and March 31, 2025.
In the last round of funding, successful applicants included The Martin’s Arms in Colston Bassett who are set to create five new bedrooms for B&B accommodation, The Martin’s Inn, through conversion of a stable block, helping secure the future of this historic rural pub.
Deputy Leader of Rushcliffe Borough Council Cllr Abby Brennan said: “The plans for the B&B at The Martin’s Arms are a great example of what this funding is seeking to achieve.
“It’s helping to develop and promote the visitor economy in this part of Rushcliffe with a capital grant for investment in a small business in a rural area.
“There is still time for businesses to apply for our REPF which will help to improve productivity and strengthen the Borough’s economy and communities.
“Applications are open until Friday January 19, so don’t miss out on this opportunity.”
Business owner Geoff Hunter added: “I’m grateful for the funding and excited about our expansion plans for The Martin’s Arms which is a Grade II listed building.
“We have a traditional customer base of locals and we get many tourists coming to visit the local attractions.
“We’re looking forward to opening the doors to The Martin’s Inn, which will encourage further tourism to the area.”