By Isle of Wight Observer
Rural Island businesses are invited to apply to the Isle of Wight Rural SME Fund for support.
The £250,000 fund, managed by the IW Council, seeks to support our rural economy by providing grants of between £2,500 to £50,000 to small and medium-sized businesses that require capital investment with potential for economic growth. The aim is to support private sector investment, create or protect jobs and assist the Island’s rural sector. Applications can support agricultural enterprises, rural tourism, local food producers, renewable energy projects, rural manufacturers and service providers.
Robert Lovegrove, chairman of the Isle of Wight Rural Fund Local Action Group, said: “I am delighted the council has launched this fund to provide small grants to support rural businesses. It is now important that applications are received to ensure the Island can maximise the benefit of this grant funding opportunity.”
Councillor Julie Jones-Evans, cabinet member for the economy and regeneration, said: “This capital grant fund is part of our Shared Prosperity Funding from the government. The scheme is very wide ranging and covers a large part of the Island.
“If you have an idea to grow your business that involves a capital investment, check the guidance and fill in the Expression of Interest form; there is nothing to lose!”
Applications are a competitive two-stage process, and businesses should apply as early as possible and before the closing date of May 31. The first stage is an Expression of Interest (EOI) Form. If the application satisfies the criteria, businesses will be invited to complete a full application.
More information is available via iw.observer/iw-rural-fund.
