Amongst all the doom and gloom there is some good news for small rural businesses who can potentially benefit from grant funding from the recently announced Rural England Prosperity Fund. The Department for Environment, Food and Rural Affairs, together with The Department for Levelling Up, Housing and Communities has announced that a total of £110 million is available to provide targeted support to rural areas through capital grants. 

Eligible local authorities have been allocated funding and will be responsible for distributing the Rural Fund grants between 1 April 2023 and 2025.

The Rural Fund provides capital funding to support new and existing rural businesses to develop new products and facilities that will be of wider benefit to the local economy. This includes farm businesses looking to diversify income streams. It also supports new and improved community infrastructure, providing essential community services and assets for local people and businesses to benefit the local economy.

Investment will be based on local priorities and support investment in projects like grants for converting farm buildings to other business uses and rural tourism, such as investments in visitor accommodation, including Glamping projects.

Capital grants will also be available for the provision of digital infrastructure at village halls, pubs and post offices for community use and to develop, restore or refurbish local natural, cultural and heritage assets and sites. Finally the Rural Fund will support the creation of new footpaths and cycle paths, particularly in areas of health need, or capital grants to enable people to develop volunteering and social action projects locally.

• Please contact us if you require help in applying for funding; further details on the Rural England Prosperity Fund are available in the published prospectus.

Further information

Contact Simon Foster

Savills Rural