DAERA has today launched the Rural Business Development Grant Scheme which will deliver £1.55million in capital grants to support rural micro businesses across Northern Ireland.
The Department of Agriculture, Environment and Rural Affairs (DAERA) has officially launched the Rural Business Development Grant Scheme, offering £1.55 million in capital grants to support rural micro businesses across Northern Ireland. This initiative aims to provide much-needed financial assistance to help small rural businesses enhance sustainability, unlock growth opportunities, and create new employment, ultimately strengthening the rural economy.
The grant scheme, which is funded through DAERA’s ‘Tackling Rural Poverty and Social Isolation’ (TRPSI) Programme, is delivered in collaboration with local Councils. Eligible rural businesses can apply for 50% funding, up to a maximum of £4,999, for the purchase of capital equipment that will drive business improvements or stimulate expansion.
Minister of Agriculture, Environment and Rural Affairs, Andrew Muir, MLA, highlighted the significance of this funding:
“I am pleased to announce the opening of the £1.55 million Rural Business Development Grant Scheme. This fund is critical to building strong, sustainable, and diverse rural communities and aligns with the Programme for Government priority of fostering a globally competitive and sustainable economy, while addressing regional balance.”
Minister Muir also urged eligible businesses to apply swiftly:
“Rural businesses are the backbone of our rural communities. I encourage all eligible businesses to apply as soon as possible and take advantage of the opportunities this scheme offers to boost their potential and foster business growth during these challenging times.”
The scheme is now open for applications from 9:00 AM on 16 October 2024 and will close at 12 noon on 8 November 2024. Applications can only be submitted online.
Key Details:
Funding Available: Up to 50% capital assistance for eligible equipment, capped at £4,999.
Eligibility: Rural micro businesses (less than 10 full-time equivalent employees) in Northern Ireland.
Application Window: Open from 16 October 2024 at 9:00 AM, closing 8 November 2024 at 12 noon.
This funding is a continuation of the success seen in previous years. Since its introduction in 2019, the Rural Business Development Grant Scheme has already provided over £5.07 million in grant aid, supporting 1,547 rural micro-businesses across Northern Ireland.
For more information or to apply, please visit the DAERA website. https://www.daera-ni.gov.uk/services/rural-business-development-grant-scheme-rbdgs