The Rural England Prosperity Fund – Defra’s boost for the rural economy
Alex Hall
Oct, 05 2022Defra Launches £110 Million Rural England Prosperity Fund
Defra has launched a new £110 million fund to replace both LEADER Funding and the Growth Programme. Importantly, the Rural England Prosperity Fund (REPF or ‘Rural Fund’) aims to create jobs in rural areas, boost the rural economy, and help farmers diversify. As a result, this scheme offers significant opportunities for rural businesses.
How the Rural Fund Works
The Rural Fund acts as a top-up to the UK Shared Prosperity Fund. In addition, it will run alongside Defra’s Farming in Protected Landscapes Programme and the RPA’s Farming Investment Fund. However, businesses already receiving support from these programmes cannot apply for REPF.
The scheme is expected to run from April 2023 to March 2025. Because it will be delivered by local authorities, access may vary by region. Therefore, it’s essential to check local guidance before applying.
What Can You Use the Fund For?
Farmers and rural businesses can apply for grants to support capital projects that create lasting assets. For example, you could use the fund for:
- Creating holiday lets
- Opening farm shops and cafés selling local produce
- Developing wedding or events venues
Conversely, applicants cannot use grants for domestic property improvements, running costs, or promotional activities. This means the focus remains firmly on long-term investment.
How Applications Will Be Judged
Applications must show evidence of local challenges, market failures, and opportunities. Additionally, they should demonstrate:
- How value for money will be achieved
- Why private finance is not available
- How the project will unlock future investment
- How it will engage rural partners
Consequently, strong evidence and clear justification will improve your chances of success.
Talk to Us About Your Project
If you want to explore whether your rural business could benefit from the Rural Fund, get in touch today. We’ll provide expert advice on funding and grant opportunities tailored to your needs. Ultimately, our goal is to help you maximise every available opportunity.
