Grants of up to £49,999 are being made available to rural micro and small businesses in Cumbria.
Cumbria Chamber of Commerce is running the Cumbria Rural Enterprise Grants scheme on behalf of Westmorland and Furness and Cumberland councils.
Funding for this project has been made available by the UK Government from the Cumbria Capital Programme, a £10m package of capital funding for local growth investment to invest in projects that support place-based economic regeneration across the area. This funding has been secured by the Cumbria Combined Authority, with Westmorland and Furness Council and Cumberland Council providing additional funding and support for the scheme.
The capital grants will support the purchase of new equipment and small-scale capital improvements to help businesses to grow, start up, diversify, innovate and improve productivity.
They will be open to all small and micro businesses in Cumbria, with a focus on rural areas. Expressions of interest will open on June 1.
Grant amounts will range between £1,000 to £49,999 with an average award around £15,000. A total of 65 grants will be awarded.
Specifically, it aims to:
- Support businesses to overcome the challenges facing them and respond positively to opportunities, for example by providing funding to support cost reductions, productivity enhancements and growth;
- Grow businesses: grants help rural businesses invest in equipment, facilities, or technology, increasing productivity, turnover and resilience;
- Create jobs: capital funding will in turn support new hires and apprenticeships, reducing local economic inactivity;
- Diversify the rural economy: encourages non-traditional enterprises, visitor economy, creative industries, and agri-businesses, making rural economies more resilient and impactful;
- Support new start-ups: encourages new businesses to start and recently formed businesses to grow through derisking early-stage capital investment;
- Attract investment: successful grant-funded projects will leverage additional private or public investment.
Lesley Robinson, Head of Business Growth & Support at the Cumbria Chamber of Commerce, said: “We’re really pleased to have been asked to deliver the Rural Enterprise Grant Fund available to the whole of Cumbria. This grant fund comes at such a vital time for businesses, by providing up to 80 per cent match funding we know this fund will make such a huge difference to those lucky enough to be successful. We do expect to be inundated with expressions of interest so if you’re looking to apply don’t wait until the deadline of 12 noon on 22 June, get your EOI in as soon as you can.”
A spokesperson for Westmorland and Furness Council said: "These grants will support the resilience, growth, productivity and sustainability of small and micro businesses throughout Cumbria. Anybody running a small or micro business who thinks they could benefit from this fund should have a look at the website and consider applying."
John Barradell OBE, Interim Chief Executive of Cumbria Combined Authority, said: “Cumbria is full of hardworking businesses with big ambitions, but we know that finding the money to invest isn't always easy.
“This fund will help businesses take the next step, whether that's buying new equipment, improving their premises or expanding what they do. These are the kinds of investments that help businesses grow, create jobs and keep our local economy moving forward.
“By working with partners to get funding where it's needed most, we're helping businesses make things happen now while building a stronger future for Cumbria.”