Rural businesses in Stratford-on-Avon are set to benefit from an increased share of a fund following a successful bid for funds by Stratford-on-Avon District Council.
The District Council submitted an addendum to the UK Shared Prosperity Fund (UKSPF) to get an allocation of the Rural England Prosperity Fund which supports businesses and creates jobs in rural areas.
It has now been confirmed by The Government that the District is to receive £1,015,179 of capital funding for the next two years; 25% is to be allocated this year with the remaining 75% in 2024/25.
The fund is a top-up to the UKSPF 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.
A call for projects will be announced shortly and the Council welcome submissions of projects that could be considered under the following areas:
- 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.
- Capital grant funding for rural circular economy projects.
More information on this fund can be found on the Council's website - https://www.stratford.gov.uk/people-communities/rural-england-prosperity-fund.cfm
Following this confirmation of the funding 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."
