Round two of the Rural England Prosperity Fund support scheme has been announced by North Devon+, the region’s economic delivery partner for both North Devon Council and Torridge District Council.

Grants ranging from £2,500 to £35,000 to support rural jobs and improve local facilities are now available. 

The Rural England Prosperity Fund (REPF) grants will be funded by both local authorities through central government's wider UK Shared Prosperity Fund (UKPSF).

The fund is integrated into the UK Shared Prosperity Fund, which supports activities that specifically address the particular challenges rural areas face. 

The business schemes are aimed at small and micro businesses, with up to 50 employees with a turnover of less than £10m. 

The REPF provides funding to assist with the purchase of capital items such as equipment or software that will help businesses to create jobs or introduce new technologies or processes with a focus on net zero. 

There will be a requirement for match funding of 10-20% depending on the size of the grant and adherence to other terms and conditions.

Eligible local business and social enterprises will be able to apply under three key Investment Priorities, which include:

• Small scale investment in micro and small enterprises in rural areas focused on funding for net zero infrastructure, and diversification of farm businesses outside of agriculture.
• Growing the local social economy and supporting innovation. This call is only for community businesses and social enterprises.
• Developing and promoting the visitor economy.

More information on the programme including eligibility criteria, guidance, application details and timetables is available on the North Devon+ website.