DEFRA have launched a new Rural Economy grant (REG) to help farmers improve and grow their businesses. Grants awarded will be between £25,000 and £1,000,000 to cover up to 40% of funding for items from DEFRAs five chosen themes: Adding Value to Food, Farm Competitiveness, Rural Tourism, Forestry and Rural Micro Enterprises.
Business West Rural Manager Roger Smith said: "Businesses in the South West can play a significant part in helping to rebuild the nation's finances. They now have the chance to turn their most ambitious and innovative business plans into a reality - boosting profits, supporting a thriving rural economy and improving the natural environment.
"DEFRA's £60m investment will give farmers and rural entrepreneurs life-changing opportunities to transform their business prospects for the long term. It's part of a £165m package of initiatives to unlock the economic potential of our rural areas."
Additionally, DEFRA can also offer a new Farming and Forestry Improvement Grant, which will award grants of up to £25,000 to improve competitiveness, productivity and environmental efficiency.
The Rural Economy Grant scheme is now open for applications, with the first round running until the end of April. A second round of applications is expected in the autumn.
Business West's team of Rural Advisers can help farmers access these grant schemes. There is no charge for this advisory service, as it is funded by DEFRA.
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