Government's Growth Programme pledges £35million to boost rural businesses

Rural businesses have been urged to apply for a share of the £35million that is up for grabs as part of the Governments Growth Programme, a fund that’s dedicated entirely to help rural businesses prosper, unlocking their potential and future proofing their business.

The Government’s RDPE Growth Programme is a scheme devised to get behind business owners operating rurally, by offering 3 different types of grant; business development grants, food processing grants and rural tourism infrastructure grants. The scheme has already granted rural UK businesses almost £100 million, enabling job creation, boosting tourism and driving productivity. For this latest round of funding, £35 million is up for grab, but this figure could rise to £50 million if there is a high number of high calibre applications.

Successful applicants will be entitled to a minimum grant of £20,000 – formerly set at £35,000 – which offers small and micro-businesses greater accessibility to the scheme.

Bruce Montgomery, Partner at Smith Cooper, a leading firm of accountants and business advisors who have a specialist rural team based in Ashbourne comments “Applicants must submit an Expression of Interest form to the Rural Payments Agency by 16th February 2020, outlining their eligibility for the scheme. If their application is considered eligible, then they will be invited to submit a full application.”

“With the clock ticking, I would urge those who are interested to get the ball rolling now.”

The Smith Cooper team specialise in providing bespoke advice to those operating rurally, so if you require expert advice on a particular topic, please get in touch today.