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Rural Enterprise Grant Programme

As part of DEFRA / RDPE £1m Rural Enterprise Grant Programme (REG), micro-businesses in rural Devon and Somerset can now apply for capital grants over £10,000.

The main aim of this programme is to increase employment opportunities and growth.

£1m has been secured from DEFRA / RDPE to provide capital grants to micro-businesses in rural Devon and Somerset, under the Rural Enterprise Grant Programme (REG).

The Heart of the South West REG Programme will be run by Devon County Council and is open to micro-enterprises in rural Devon and Somerset. Micro-enterprises are a vital component of the Devon and Somerset rural economy representing approximately 90% of the business base. The REG will support our rural micro-enterprises to develop, expand and stimulate economic growth, innovation and employment opportunities. This will help ensure that our rural communities remain active and vibrant places in which to live and work.

Details:

  • Applications can be for 40% of eligible costs; businesses applying for support will need to find the remaining 60% of project costs
  • Grants must be for a minimum of £10,000 or more.
  • In order to meet the very tight timescale for funding we are very keen  to develop a pipeline of projects as soon as possible
  • The REG geography and objectives are complimentary to those of the Rural Growth Network (RGN) and will be supported by - when available - advice and support for businesses and office space in the form of enterprises/work hubs provided through the RGN.

Timescale:

The timescales are very tight: timings set by DEFRA mean that £500,000 of grant funding needs to be committed by July 2013 and all funding (£1,000,000) will need to be committed by December 2013.

This means that businesses will have to submit a full application in time to have it appraised and submitted to one of the panel meetings which will be held in April, May, June, July, September, October and November 2013. Once approved, businesses will have to complete their project, spend the funding, make a claim and be paid by the REG programme before the end of December 2014.