The Rural Enterprise Fund for Herefordshire Businesses is now open

Tue 8 August 2023

The Rural Enterprise Fund is a capital grant scheme that has been funded by the UK Rural England Prosperity Fund (REPF). The aim is to support new and existing businesses to develop new products and facilities that will be of wider benefit to the local economy. This includes farm businesses looking to diversify outside of agriculture.

 

How much can you apply for

Capital grants are available for businesses, up to 50% of the total project costs.

•        Existing business trading 12 months or more:

o        Minimum grant £5,000 - project costs must be at least £10,000

o        Maximum grant £50,000 - project costs must be at least £100,000

 

Start-up business (trading less than 12 months):

o        Minimum grant £5,000 - project costs must be at least £10,000

o        Maximum grant £10,000 - project costs must be at least £20,000

 

Who can apply

•        Sole traders, micro and small businesses based in Herefordshire

o        Definition of micro or small business:

o        Employ no more than 50 employees

o        Turnover not more than £10.2 million

o        Balance sheet not more than £5.1 million

•        The trading activity and investment must take place within Herefordshire

•        Existing and start-up businesses

•        Businesses must be located an eligible rural areas

•        If planning permission is required this must already be in place

 

Deadline for the applications is 1^st September 2023.

Please contact Megan.Davies@McCartneys.co.uk for more information.

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