Councils announce new raft of business grants

Businesses in Babergh and Mid Suffolk are set to benefit from a new round of funding thanks to the Rural England Prosperity Fund (REPF).

The REPF, which was announced at the end of 2022, is a capital grants scheme with the aim of helping improve productivity and strengthen the rural economy and rural communities.

Of the £110m fund, Babergh District Council was allocated £621,369 and Mid Suffolk District Council was allocated £821,658 over the next two years. A total of £998,027 of this total allocation has been set aside to deliver this grant scheme across both councils.

Small businesses and community organisations across the districts will have access to three grants under the fund: the Rural Business Growth Fund, the Rural Culture & Creativity Fund and the Rural Communities Fund.

Grants are available between £5,000 – £10,000 per application and will fund a maximum of 50% of total project costs up to the maximum value of £10,000.

Eligible projects include net-zero developments, agriculture and farm diversification, visitor economy business expansion as well as SME investment and diversification or investment in community facilities in our rural areas.

More information on the grants can be found on our Rural England Prosperity Fund page.