North West Leicestershire’s rural businesses are poised to receive a significant boost with more than £350,000 in grant funding available to support their growth. The North West Leicestershire Rural Business Grant program, funded by the government’s UK Shared Prosperity Fund, is being managed by the North West Leicestershire District Council (NWLDC) this year.
Small and medium-sized businesses in rural areas can benefit from these grants by funding investment projects that demonstrate business growth, tourism development, carbon reduction, or farm diversification initiatives. A substantial sum of £351,818 is up for grabs in 2024, with grants ranging from £1,000 to £25,000. Applicants will need to provide at least 50% match-funding alongside the grant.
The application window will close on 29 September, with grants being awarded on a first-come, first-served basis. Successful projects must be completed and claimed by 31 January 2025. Eligible businesses with fewer than 250 employees can utilize the funding for capital projects such as modernizing farm tourism facilities, investing in energy efficiency, or upgrading business premises with new technology and innovation.
NWLDC has followed guidance and eligibility criteria set by the Department for Environment, Food and Rural Affairs (DEFRA), defining specific rural areas within the district. Approximately 3,120 businesses in North West Leicestershire could qualify for this grant opportunity.
Councillor Tony Gillard, Portfolio Holder for Economic Regeneration at NWLDC, expressed enthusiasm about the program, stating, “This grant fund presents a fantastic opportunity for small and medium-sized businesses in North West Leicestershire to thrive. Our predominantly rural district boasts a flourishing rural economy, making it an ideal environment for eligible local businesses seeking to expand and invest in their facilities.”
