Last chance for Somerset businesses to secure Rural Enterprise grant funding.
PRESS RELEASE
Heart of the South West Partnership
02 December 2013
For immediate issue
Businesses across Somerset are being urged to get their applications for the Heart of the South West Rural Enterprise Grant (REG) in as soon as possible, before the deadline in early January 2014.
Over £600,000 has already been allocated from the £1million REG fund which was launched in January. Administered by Devon County Council, and in partnership with Somerset County Council, funds have been allotted to 19 businesses across the area with the remaining funding due to be allocated in early March 2014.
The grants have to be used to aid business development and create jobs. Businesses have used the money in a variety of ways - to update machinery, automate production processes or purchase new equipment.
The Rural Enterprise Grant, designed to boost growth and create jobs throughout the area, is in addition to the Government’s £2.9 million investment in HotSW’s Rural Growth Network (RGN). The RGN is expected to create around 1,300 new jobs in the area and increase gross value added (GVA) by tens of millions.
Cllr David Hall, Deputy Leader of Somerset County Council said: “The Rural Enterprise Grant was designed to support rural businesses, helping them to expand into new markets, create vital jobs and develop the local economy. Around 90% of businesses across Devon and Somerset are micro businesses so this grant has huge potential to boost growth in the area.”
Somerset business, Inflatex Ltd, based in Bruton, design and manufacture inflatable tubes and structures for the marine market as well as accessories, maintenance and repair products for technical fabrics and inflatable boats.
The company are using the grant to purchase two machines for fabric cutting and welding which will automate these processes.
Louise Newcombe, Director at Inflatex said: “Demand for our products and tube fabrication skills has been growing quickly and the investment in new equipment has substantially improved the efficiency of our manufacturing process. We’ve also increased our production capacity; additionally we have just recruited our first employee to help meet customer demand and we hope to create further local job opportunities in the future.”
The successful bid for £1 million from Defra (Department for Environment, Food and Rural Affairs) was led by Devon County Council, in partnership with the Heart of the South West Local Enterprise Partnership (LEP).
Devon County Council’s successful bid for £1 million from Defra (Department for Environment, Food and Rural Affairs) was achieved in partnership with the Heart of the South West Local Enterprise Partnership (LEP).
Chris Garcia, Chief Executive of HotSW LEP said: “Hunter’s Brewery is exactly the type of business this grant has been set up to support and we wish them the best in the future.
“We hope that more businesses apply for the Rural Enterprise Grant before the deadline – this funding is designed to help rural businesses to grow, creating and safeguarding jobs throughout the area.”
Rural enterprises with fewer than ten employees are eligible to apply for the business grants, although applicants will need to meet 60% of project costs, with the grant covering a maximum of 40%.
This programme is drawing to close and interested parties are encouraged to visit the website and or phone to check eligibility criteria which has recently changed www.heartofswlep.co.uk/rural-growth-rural-enterprise-grants or contact an advisor at the Business Information Point (team@bipwestdevon.biz / freephone 0330 1000338).
ENDS
Notes to editors
For more information, contact Emma Parker Reynolds or Liz Waugh at Coast Communications on 01752 847135 / 07944 360631.
Heart of the South West
The Heart of the South West Local Enterprise Partnership (LEP) has been formed under the leadership of the private sector supported by the local authorities from Devon, Plymouth, Somerset and Torbay and the area’s District Councils. It is one of 39 partnerships created since the Government’s Local Growth White Paper published in October 2010. More information about the work of the LEP is available from the website www.heartofswlep.co.uk.
Rural Economy Grant
Only businesses in Rural Growth Network areas are eligible to apply for the micro-business fund. In total, Rural Growth Networks are expected create a total of 700 new businesses and 3,000 jobs by helping rural businesses overcome problems, like lack of work premises and access to superfast broadband, which all stop growth. For more information on Rural Growth Networks or the Rural Development Programme for England, please contact the Defra Press Office on 0207 238 1822.
Rural Development Programme for England
This project is part financed by the European Agricultural Fund for Rural Development 2007-2013: Europe investing in rural areas. In England, the European Agricultural Fund for Rural Development 2007-2013 is delivered through the Rural Development Programme for England (RDPE). It is an important part of the Common Agricultural Policy and helps create genuinely sustainable farming, forestry and food sectors, whilst bringing wider benefits for the economy, the environment and rural communities. It is the European Union's major investment route for protecting and enhancing the environment while securing a range of public benefits for society. Defra is the Managing Authority and is delivered in the region by Defra, Natural England and the Forestry Commission.
Notes to Editors:
For more information, contact Emma Parker or Liz Waugh at Coast Communications on 07944 360631 / 07966 388921 / main office 01752 847135.
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