Buckinghamshire Council has announced the launch of the Bucks Rural Business Grant fund, which will provide crucial support to small rural businesses in the county.
This initiative, made possible through the Government's Rural England Prosperity Fund, will deliver £1.8 million in capital grants over two financial years.
The Bucks Rural Business Grant fund focuses on small-scale investment in micro and small enterprises in rural areas. Its primary objectives are to create jobs, support business growth, and drive economic prosperity within Buckinghamshire.
Eligible businesses can apply for grants ranging from £2,500 to £300,000, with a requirement to match-fund a portion of the grant amount.
The application process involves an Expression of Interest followed by a Full Application, which will be assessed and then go to a funding panel. Successful applicants will enter into a Grant Agreement and will be closely monitored on their outputs and outcomes. This will include due diligence checks and site visits to ensure the effective use of the grant funds.
Martin Tett, Leader of Buckinghamshire Council, stated:
"Small and medium-sized businesses are the bedrock of our local economy, so it's great news that the launch of our Bucks Rural Business Grant fund will help foster the growth and prosperity of small rural businesses across the county.
"By providing targeted support and resources, the new fund will help empower local entrepreneurs, create employment opportunities, and stimulate sustainable economic growth."
To reach as many local rural businesses as possible, the council is working closely with Buckinghamshire Local Enterprise Partnership and Buckinghamshire Business First. In addition, the grant application process will be communicated through the council's website and detailed guidance will be provided to all applicants.
The Bucks Rural Business Grant fund received £1.8 million from the UK Government through the UK Shared Prosperity Fund.
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