Isle of Wight Rural SME Fund launched - January 2016

The Isle of Wight Rural SME Fund is a competitive £150,000 fund managed by Natural Enterprise on behalf of the Solent Local Enterprise Partnership (LEP).

The Isle of Wight has the largest rural sector in the Solent LEP area and the IW Rural SME Fund seeks to support the Island & Solent economy by providing grants to rural small and medium sized businesses (SMEs) with potential for economic growth, leveraging in private sector investment, creating or protecting jobs and assisting the rural sector on the Isle of Wight.

The Isle of Wight Rural SME fund is now open for applications. It will support the strongest bids which return best value for money, jobs and leverage in the rural economy and generate sustainable growth.

Grants are available between £2,500 and £10,000 representing up to 50% of project costs. All projects need to create or safeguard either a part time of full time job to be eligible. Those projects that can create or safeguard a higher number of jobs will be prioritised.

Project expenditure must be completed by 31 December 2016. Jobs need to be created by 31 December 2017 and sustained for at least 12 months.

If you believe you have the potential to grow your business but require some extra funding to do so, you may be able to benefit from the fund. To find out more please email bridget.welling@naturalenterprise.co.uk or call us on 01983 201562.