Worcestershire’s rural businesses have until 5pm, on 27 November 2015 to apply for a share of £300,000.
Funding is available to all new and existing businesses in rural areas that are seeking grant assistance for investments to expand and create new jobs, with the opportunity to receive grants from £35,000 up to approximately £100,000.
The European Agricultural Fund for Rural Development (EAFRD) funding is part of the European Structural and Investment Funds Growth Programme (ESIF).
Applicants can apply for a grant to cover up to 40% of the project’s total eligible costs. Projects will need to demonstrate and evidence how they can create a number of new jobs and increase their overall wages.
The funding is designed to benefit Worcestershire Local Enterprise Partnership’s priority growth sectors of Agri-tech, Advanced Manufacturing and Cyber/ Defence, by for example, improving farm diversification, construction and development of workshops, factories and machinery and the introduction of new technologies and equipment to improve productivity and efficiency.
The 2014-20 ESIF Growth programme launched in March 2015 and this latest round of funding, with £300,000 available to support the development of rural businesses in Worcestershire, will be open until 27 November 2015.
As there is already an EAFRD fund currently available to rural tourism businesses, rural tourism businesses will be unable to apply for the Business Development fund.
Applicants will be assessed in two stages of the application process, the outline and full application stages, further details on how to apply for a grant and an outline application form are available from gov.uk.
Gary Woodman, Executive Director of the Worcestershire Local Enterprise Partnership (LEP), said: “EAFRD funding is now available for rural business development in Worcestershire. The funding is a fantastic opportunity for businesses in rural areas to expand and create jobs, providing a great boost the local economy. I would strongly encourage any interested parties to apply for this call for funding before the 27 November 2015 deadline.”