Fund title: The Heart of the South West REG Programme
Focus of fund/fund aims:
To support rural micro-enterprises to develop, expand and stimulate economic growth, innovation and employment opportunities.
Panel meetings will be held in July, September, October and November 2013.
£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.
- Applications can be for 40% of eligible costs (some processing projects may only qualify for 20%, this can be clarified with Rural Focus); businesses applying for support will need to find the remaining 60% or 80% of project costs.
- Grants must be for a minimum of £10,000 or more (This means that the minimum total project value has to be £25,000).
- 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.