Rural England Prosperity Fund

What is the grant available for?

NKDC is now inviting Expressions of Interest from rural businesses for the Rural Business Grant (RBG)

The window for EOIs will be open until First of June 2023. The first call for Full Applications will be launched after the EOI window has closed.

The Council has allocated £450,000 to support Rural Business.

Supporting Rural Business:

• Total spend - £450,000
• Year 1 (2023/24) spend - £112,500 (25%)
• Year 2 (2024/25) spend - £337,500 (75%)

Capital or Revenue or Both?

The fund will support capital investments only in the following categories:

• Rural start-ups and new enterprises
• The Visitor Economy sector (including visitor accommodation) and supply chains
• Hospitality sector
• The conversion of rural buildings for commercial and economic purposes
• Food & Drink sector and supply chains
• Manufacturing sector and supply chains
• Non-farm-owned Diversifications (those not eligible for FIF and other core Defra funds)

Any required delivery targets / outcome required

In line with Defra Guidance and 25 Year Environment Plan, (25-year-environment-plan.pdf (publishing.service.gov.uk) the Rural Business Grant will seek to prioritise the following:

• Investments which support green growth in renewables, green power and energy efficiency measures and which lessen rural reliance on fossil fuels and make a positive contribution to Net Zero. This includes investments aimed at reducing fuel costs at a time of exponentially rising prices, EV charging points, solar panels and ground source heat pumps.

What grant amounts are available?

The minimum grant available is £5000. Depending on the project and the level of investment, applicants may be required to provide match funding. EOIs will allow NKDC’s Grants Team to make early assessments of project eligibility and ensure applicants are given the time and support where necessary to refine and develop investments in line with the objectives of the fund and ensure applicants are able to meet the various requirements for evidence. It will also ensure that proper consideration is given to projects that may require planning permission or guarantee that any additional funding or legal matters can be concluded within the time frame set out for the delivery of projects.

How to apply for the grant?

An Expression of Interest is not a grant application. It allows potential applicants to submit ideas and projects to The Council for prior evaluation and assessment. The grants team will be able to determine whether or not the business and the project or investment comply with the permitted interventions of REPF and The Council’s grant policy. In addition, the Grants Team will be able to indicate where there are omissions or evidence gaps that will be required by the applicant in order to submit a formal application at a later date.

To find out more and register your interest visit Rural England Prosperity Fund | North Kesteven District Council (n-kesteven.gov.uk).