Rural businesses in North West Leicestershire are set to benefit from over £350,000 in grant funding to support the growth of the rural economy.

The North West Leicestershire Rural Business Grant programme, funded by the government's UK Shared Prosperity Fund, is being administered by North West Leicestershire District Council (NWLDC) this year.

The grants will help small and medium-sized businesses in rural locations to fund investment projects that can demonstrate business growth, tourism and visitor economy development, invest in carbon-reducing technology or farm diversification. 

A total of £351,818 is available in 2024, with businesses able to apply for a grant of between £1,000 and £25,000. Recipients will have to provide at least 50 per cent match-funding alongside the grant.

The window for applications opened on May 7 and will close on September 29. Applications will be considered on a first-come, first-served basis. All successful projects will need to be claimed for by January 31, 2025.

Businesses employing fewer than 250 staff can use the funding to support capital projects, such as purchasing new equipment to:

• Modernise farm tourism facilities such as accommodation, wedding venues and leisure facilities
• Invest in energy efficiency or achieving zero carbon
• Invest in business premises, new technology and innovation.

NWLDC has used guidance and eligibility criteria from the Department for Environment, Food and Rural Affairs (DEFRA). DEFRA has defined areas of the district as rural.

This definition excludes businesses in parts of Bardon, Coalville, Hugglescote, Thringstone and Whitwick.

An estimated 3,120 businesses in the district could be eligible for the fund.

For more information and to apply, click HERE.

Councillor Tony Gillard, Portfolio Holder for Economic Regeneration at NWLDC, said:

"This grant fund is great way for small and medium-sized businesses in North West Leicestershire to grow.

"North West Leicestershire is a predominantly rural district with a thriving rural economy – so we welcome applications from any eligible local business looking to expand and invest in its facilities."