Round two of the Rural England Prosperity Fund support scheme has been announced by North Devon+, the region’s economic delivery partner for both North Devon and Torridge district councils.

Grants ranging from £2,000 to £35,000 to support rural jobs and improve local facilities are now available. The Rural England Prosperity Fund (REPF) grants will be funded by both local authorities through central government's wider UK Shared Prosperity Fund (UKPSF) as part of the levelling up agenda.

The fund is integrated into the UK Shared Prosperity Fund, which supports activities that specifically address the particular challenges rural areas face. The business schemes are aimed at small and micro businesses, with up to 50 employees with a turnover of less than £10m. 

The REPF provides funding to assist with the purchase of capital items such as equipment or software that will help businesses to create jobs or introduce new technologies or processes with a focus on net zero. There will be a requirement for match funding of 10-20% depending on the size of the grant and adherence to other terms and conditions.

Eligible local business and social enterprises will be able to apply under three key Investment Priorities, which include:

• Small scale investment in micro and small enterprises in rural areas focused on funding for net zero infrastructure, and diversification of farm businesses outside of agriculture.
• Growing the local social economy and supporting innovation. This call is only for community businesses and social enterprises.
• Developing and promoting the visitor economy.

The grant programme will be open for all applications until 30 November 2024.  Businesses will only be able to apply for that investment theme grant during the open window for applications. Grant eligibility will be determined by the address where the business is registered, which is the address on business bank statements and which local authority the business pays rates to. 

Chief Executive at North Devon Council, Ken Miles, said: “This second round of Rural England Prosperity Fund grants offer a fantastic opportunity for local businesses and social enterprises to thrive. The funding will help enable sustainable growth; help create new jobs and improve community facilities.

“These grants can make a real difference, so we urge anyone interested to explore this fantastic opportunity and get their applications in as soon as possible. 

Head of Communities and Place at Torridge District Council, Sean Kearney said: “There is a broad range of support packages for our business community to benefit from, whether they need assistance in helping them diversify or grow their businesses, or to help them to adopt new technology and processes. There’s also support for community businesses and social enterprises run either entirely or substantially for the benefit of the communities they serve.  I would recommend that firms study the packages on offer carefully or seek the advice of the expert advisors at North Devon+ in working out which option would best suit their needs and aspirations.”

More information on the programme including eligibility criteria, guidance, application details and timetables is available on the North Devon+ website. 

More information on the applications process including the downloadable application packs are available here:  https://northdevonplus.co.uk/our-services/rural-england-prosperity-fund-repf-grant-programme/