Relaunch of the Rural England Prosperity Fund for Somerset
Released On 1st May 2025
Somerset, UK – April 29, 2025 – Somerset Council is pleased to announce the relaunch of the Rural England Prosperity Fund (REPF), with £1 million of funding available to support businesses and community projects across the county. This initiative aims to bolster the rural economy and foster growth for micro and small businesses in Somerset.
The REPF is designed to provide capital funding for projects that will enhance productivity, create jobs, and improve community infrastructure. Eligible projects include those that develop new products, diversify income streams, and improve essential services and assets for local people and businesses.
Eligibility Criteria:
Location: Applicants must be based in rural areas of Somerset.
Project Type: Projects must focus on business start-up, innovation, growth, or community infrastructure.
Funding Range: Grants are available from £5,000 to £75,000.
Match Funding: Applicants must provide match funding to complement the grant.
Objectives: Projects should align with the government's net zero and nature recovery goals.
Completion Date: All projects must be completed, and funds spent, by 31 March, 2026.
Cllr Mike Rigby, Lead Member for Economic Development, Planning, and Assets, emphasized the significance of the fund:
"The Rural England Prosperity Fund is a vital resource for our rural communities. It provides the necessary support for micro and small businesses to increase their productivity and contribute to the overall growth of the rural economy. This fund will enable businesses to innovate, expand, and thrive, ensuring that our rural areas remain vibrant and sustainable."
Success Stories:
The first round of REPF funding saw a variety of successful projects that have significantly benefited the rural economy in Somerset. For instance, Brickell’s Ice Cream used the funding to purchase new manufacturing equipment, which allowed them to increase production and secure a national distributor
Another success story is a local cider manufacturer that invested in bottling equipment to enhance efficiency. Additionally, a new vet’s practice received funding for specialist animal health equipment, enabling them to expand their services.
Community projects have also thrived with the support of the REPF. The Stoke sub Hamdon Sports and Recreation Trust received funding to complete a new skateboard facility, greatly enhancing local recreational infrastructure
Businesses and community organisations are encouraged to apply for grants. Applicants must demonstrate how their projects will deliver value for money and contribute to the government's net zero and nature recovery objectives.
For more information on eligibility criteria and how to apply, please visit the Somerset Council website or contact the Economic Development team at REPF@somerset.gov.uk.
Contact: Somerset Council Economic Development Team Email: REPF@somerset.gov.uk Website: Somerset Council
