Wednesday, April 24, 2024

West Lindsey launches grant programme to support businesses

Businesses in West Lindsey have the opportunity to secure grants of up to £15,000 to help with diversification opportunities, improve commercial sustainability, and evolve green infrastructure.

The grant scheme covers three principal areas – capital and revenue grant provision to support business sustainability, capital grants for non-agricultural farm diversification, and capital and revenue grants for agri-tech business development.

Councillor Trevor Young, leader of West Lindsey District Council, said: “This programme will support West Lindsey businesses to take advantage of diversification opportunities, improve commercial sustainability and evolve green infrastructure. The transition to a low carbon economy and rural/green growth are reflected as key local priorities in the current West Lindsey Economic Recovery Plan and Sustainability, Climate Change and Environment Strategy.”

Sally Grindrod-Smith, Director of Planning, Regeneration and Communities, said: “We are working closely with our grant administration partner NBV Enterprise Solutions Ltd, to offer grants to eligible businesses ranging from £1,000 to £15,000.

“The grants – allocated on a first come, first served basis (on receipt of an eligible Expression of Interest) are intended to be flexible in order to respond to local business needs. The Council encourage all prospective applicants to fully review grant guidance, which can be found at: UK Shared Prosperity Fund and Rural England Prosperity Fund Business Grants | West Lindsey District Council (west-lindsey.gov.uk), prior to submitting an Expression of Interest to ensure their project is eligible for funding.”

The fund is due to close to new applicants in December next year, but may close earlier if all of the Council’s funding allocation is awarded.

The UK Shared Prosperity Fund is a central pillar of the UK government’s Levelling Up agenda and a component of its support for places across the UK. It provides £2.6 billion of capital and revenue funding for investment in local projects to be spent by March 2025.

All areas of the UK will receive an allocation from the fund. The primary goal of UKSPF is to build pride in place and increase life chances across the UK. The Rural England Prosperity Fund (REPF) is a top-up to UKSPF, to be spent between April 2023 and March 2025.

The fund supports activities that specifically address the particular challenges rural areas face. It is capital funding only and is complementary to funding used to support rural areas under the UKSPF.

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