Cash available to support rural businesses capital projects

A total pot of £321,000 of government funding is available

Rural businesses in the Cherwell District are being encouraged to apply for funding to cover the capital costs for new equipment.  

Grants of between £5,000 and £20,000 are available from a total pot of £321,000 of government funding.   Awards are available for up to 75 percent of the total expenditure.

Cherwell District Council is working with the Oxfordshire Local Enterprise Partnership to deliver the grants, with support and help available as part of the package.

Specifically the scheme is targeting areas such as retail, serving the local community, farm diversification (non-agricultural), food and drink production, hospitality and leisure, and manufacturing.

Those awarded grants will be expected to demonstrate achieving benefits after receiving the money, such as business retention and growth, and strengthening the rural economy.

The grant programme is available to any businesses operating in the rural parts of the district.

Councillor Lesley McLean, Deputy Leader of the Council and Portfolio Holder for Finance, Property and Regeneration, said: “Our rural communities are an important part of our economy in Cherwell and I am thrilled that businesses based in these areas will be able to access support to help them flourish.

“Rural businesses are the lifeblood of their communities and having the opportunity to grow will strengthen our rural economy and help everyone who works in it thrive.

“We are delighted to be able to support this through our Rural England Prosperity Fund and wholeheartedly encourage businesses to take advantage of this opportunity.”

More information is available here.   Grant expressions of interest must be submitted by 5pm on Monday November 4.

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Published: 28/10/2024 11:07am by Banbury FM Newsteam

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