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Rural England Prosperity Fund
Rural England Prosperity Fund
Post date
November 2022
The Rural England Prosperity Fund (REPF) has been created as a top up to build on the UK Shared Prosperity Fund (UKSFP). The Shared Prosperity Fund which was announced earlier this year had already supplied funding of £2.6 billion but has now been topped up by an additional £110 million through the Rural England Prosperity Fund, targeted specifically at rural communities in qualifying local authorities.
Both funds share similar aims and priorities and have been created to lessen the issues faced in rural communities, they will support the aims of the governments ‘Levelling Up’ programme by providing grants for small businesses and community infrastructure in rural areas in the hopes it will help strengthen both rural community and rural economy.
Within REPF, capital works will be subsidised to support new and existing businesses in the development of new products and facilities that will be of benefit to the wider economy (this will include farm businesses looking to diversify their income streams). Investments will include both improvements to businesses and the community and therefore could include farm diversification projects such as converting barns to office spaces or accommodation such as glamping as well as enhancing community spaces such as local sports facilities.
It is important to note that funding under this grant will not be available if you have received previous support from the Farming in Protect Landscapes Programme, Farming Investment Fund or the Platinum Jubilee Village Hall Improvement.
The scheme is still in the development phase and expected to be released from April 2023.
More information can be found here Rural England Prosperity Fund: prospectus - GOV.UK (www.gov.uk)
