Almost one million pounds is being made available to small rural businesses across Derbyshire and Nottinghamshire looking to develop, as part of the D2N2 Local Enterprise Partnership’s plan to boost economic growth.
More than a third of the D2N2 area’s total of 880,000-plus jobs are in rural local authority areas but according to DEFRA (the Department for Environment, Food and Rural Affairs) problems for the rural economy can include reduced income among farmers, lower than average wages and difficulties in finding business investment. D2N2 is making £933,000 available; to help new or established small or micro businesses in rural areas to expand and create new jobs.
To be eligible to apply for a grant a rural business must operate in the D2N2 area and in one of its eight key economic sectors – the visitor economy, food and drink manufacturing, low carbon, construction, transport equipment manufacturing, transport and logistics, creative industries or life sciences – OR be looking to create new jobs, or increase productivity; or introduce a technology, product or process new to their sector.
David Ralph, chief executive of the D2N2 Local Enterprise Partnership, said: “Small rural businesses provide a service to their community, accessible employment opportunities and are an important part of the economy but can struggle to find funding which is perhaps more readily available in urban areas. “The EAFRD funding we’re announcing is aimed specifically at providing owners of new and established, smaller businesses with the help they need.”