New Business Funding Options for Rural Firms in Suffolk and Norfolk

New Business Funding Options for Rural Firms in Suffolk and Norfolk

Grants are now available for small and micro enterprises in rural East of England

18th January 2016

By Elma Glasgow

Rural businesses in Suffolk and Norfolk now have the opportunity to apply for grant funding from the LEADER programme, to support initiatives like rural tourism and forestry production.

Provided by the EU’s Rural Development Programme England (RDPE) and the Department for Food and Rural Affairs (DEFRA), the New Anglia Growth Hub estimates that grants will start at £2,500. The average grant award is expected to be between £20,000 and £25,000.

Running until 2020, LEADER cash will support:

Also, the majority of grants must lead to the creation of new jobs and the money needs to contribute up to 40% towards any project (with exceptions for special circumstances).

How to apply

Firstly, businesses submit an outline application form, and if successful, they’re asked to complete a full application. This will be reviewed by Local Action Groups (LAG), made up of representatives from the public, private and voluntary sectors, every quarter.

Check you're eligible

Use the postcode checker and maps to see if your business is in an eligible area, since not all of Suffolk and Norfolk is covered by the funding.

Norfolk businesses – go here.

Suffolk businesses – go here.

Or contact an adviser at the New Anglia Growth Hub, who can give you an idea of your suitability for the funding. Call 0300 333 6536 or email growthhub@newanglia.co.uk.

East of England business loans are also available from other lenders, including New Anglia LEP and Fleximize.