Rural businesses have been urged to apply for a share of the £35 million that is up for grabs as part of the governments Growth Programme.
The aim of fund is to help rural enterprises prosper, unlocking their potential and future proofing their business.
The government’s scheme is devised to get behind business owners by offering 3 different types of grant; business development grants, food processing grants and rural tourism infrastructure grants.
The scheme has already granted rural UK businesses almost £100 million, enabling job creation, boosting tourism and driving productivity.
For this latest round of funding, £35 million is up for grabs, but this figure could rise to £50 million if there is a high number of high calibre applications.
Successful applicants will be entitled to a minimum grant of £20,000 – formerly set at £35,000 – which offers small and micro-businesses greater accessibility to the scheme.
Accountants Smith Cooper are urging farmers and rural businesses to apply.
Bruce Montgomery, partner at the firm, said: “Applicants must submit an Expression of Interest form to the Rural Payments Agency by 16 February 2020, outlining their eligibility for the scheme.
“If their application is considered eligible, then they will be invited to submit a full application.
“With the clock ticking, I would urge those who are interested to get the ball rolling now.”