Businesses across Cumbria are being encouraged to apply for a share of a new £1 million Rural Enterprise Grant Fund.
The new fund is being delivered by Cumbria Chamber of Commerce through Cumbria Business Growth Hub. It has been secured by Cumbria Combined Authority.
The fund will provide grants of up to 80 per cent towards eligible capital projects, helping businesses invest in equipment, machinery, technology and small-scale improvements to business premises.
Available to eligible businesses across the whole of Cumbria, the scheme aims to support growth, improve productivity and help businesses bring forward investment plans that will strengthen the county’s economy.
Additional funding and support for the Rural Enterprise Grant Fund has been provided by Cumberland Council and Westmorland and Furness Council.
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.”
Lesley Robinson, head of business growth & support at 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 June 22, get your EOI in as soon as you can.”
The Rural Enterprise Grant Fund forms part of the Cumbria Capital Programme, a £10 million package of capital funding secured by Cumbria Combined Authority to support local growth investment and economic regeneration across the county.
The programme has already allocated £4.5 million towards the redevelopment of Cumberland Sports Village, with further investment supporting business growth, regeneration and economic opportunity across Cumbria.
Businesses interested in applying should submit an expression of interest through Cumbria Business Growth Hub by 12 noon on 22 June.
