Rural businesses in Stratford district set for £1million funding boost - The Stratford Observer

Rural businesses in Stratford district set for £1million funding boost

Stratford Editorial 27th Apr, 2023   0

RURAL businesses in Stratford district are set for a £1million government funding boost.

Stratford District Council announced it had made a successful bid for cash from the Rural England Prosperity Fund, which supports businesses and creates jobs in rural areas.

The district is to receive £1,015,179 of capital funding for the next two years – 25 per cent is to be allocated this year with the remaining 75 per cent in 2024/25.

The fund is a top-up to the UK Shared Prosperity Fund and is available to eligible local authorities in England. The fund succeeds EU funding from LEADER and the Growth Programme, which were part of the Rural Development Programme for England.

And SDC will soon be looking for submissions for a share of the cash pot from projects that fit into three specific areas.

These are capital grant funding for small scale investment in micro and small enterprises in rural areas, capital grant funding for investment and support for digital infrastructure for local community facilities, and capital grant funding for rural circular economy projects.

SDC Deputy Chief Executive Tony Perks said: ‘The district council is delighted to receive confirmation of this funding, which recognises the additional challenges for rural businesses and communities.”

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