Rural Enterprise Grants provide massive boost businesses
Thirty businesses in Devon and Somerset have received around £800,000 of grant money to help boost the region’s economy and create jobs.
Funds were secured in 2012 by Devon County Council from Defra (Department for Environment, Food and Rural Affairs) and the RDPE (Rural Development Programme for England) for the Heart of the South West Rural Enterprise Grant Scheme at the beginning of last year.
84 jobs will have been created by March 2015 and a further 33 by March 2017 totalling 117 giving a GVA (Gross Value Added) increase of £4.9m by March 2017
The programme was managed by the County’s REG team with guidance and support provided by Peninsula Enterprise and BiP.
Chief Executive of the Heart of the South West LEP (Local Enterprise Partnership) Chris Garcia said; “We are really pleased to have been successful in attracting the Rural Enterprise Grants to help these businesses grow.
"The grants are designed to develop, expand and stimulate economic growth, innovation and employment opportunities, helping our rural communities remain active and vibrant places in which to live and work. Tackling barriers to growth that benefit both urban and rural businesses is an important part of our Strategic Economic Plan which aims to generate economic prosperity in the Heart of the South West area.”
Cabinet member for Economy and Growth in Devon, Cllr Andrew Leadbetter said: “The micro-businesses and SMEs are such a major part of our economy and this is exactly where funding and support can make a difference. It’s great news to see so many get the support needed to help them reach their true potential. It means job creation and money in the local economy in turn strengthening our local communities. I wish them all the very best for their future and continued success.”
Somerset’s Cabinet Member for Business Inward Investment and Policy Cllr David Hall said; “I’m delighted to hear that the Rural Enterprise Grants fund has supported Somerset based, rural business. Some small businesses have found it challenging to secure financial backing in the current climate and it can prevent them from fulfilling their true potential.
"We want Somerset to be a county in which small businesses can thrive and grow, boosting the local economy and creating jobs. These grants will give the successful applicants a chance to invest in their business at a time when financial backing can be hard to find.”
This project shows the support offered to rural companies in Devon and Somerset. It is supported by the Rural Development Programme for England, for which Defra is the Managing Authority, part financed by the European Agricultural Fund for Rural Development: Europe investing in rural areas. It has been grant funded through the REG Programme delivered by Devon County Council on behalf of the Heart of the South West Local Enterprise Partnership.
Some examples include:
The-Sign-Maker-Dot-Net-Ltd in Umberleigh North Devon, received over £34,000 in funding from the Heart of the South West Local Enterprise Partnership Rural Enterprise Grant (REG) scheme. Over the next 2 years, they forecast their turnover will increase to around £340,000 as a result of this expansion, allowing them to create another 2 full time jobs and adding almost £60,000 to the local economy.
Devon’s Virtual Jet Centre in Chudleigh celebrated £45,000 to help their flight simulator business take-off. The unique nature of this business, combined with the demand for their services, means that over the next 4 years they will bring just under £200,000 to the local economy, creating 4 full time jobs.
Wedgewood Buildings in Tiverton won £25,060 which will go towards purchasing a new saw to cope with increasing demand. This will improve efficiency, increase productivity and reduce wastage.
The Annie Martin Architect Practice in Cheriton Bishop was awarded £20,282 which will be used to build a permanent office space giving a more professional image. It will also go towards employing two new members of staff to increase turnover.
The Wild Beer Co, based near Shepton Mallet in Somerset treated themselves to a pint or two, after securing almost £60,000. This will allow them to set up their own bar supplied with their beer, which is another key element in The Wild Beer Co’s growth strategy and this expansion will create 9 jobs at the company by 2017, boosting the local economy by over £500,000.
Eternal Kitchens in South Petherton, Somerset were delighted to get £56,425. This will help with the construction of a new building to include a joiner’s work shop, a dedicated ‘finishing area’, an office facility, a staff room and a dedicated parking area. This will improve the efficiency of work production and raise the image of the company which will consequently increase sales turnover and further create employment opportunities. The company aim to integrate renewable energy options into heating systems to reduce waste and improve working conditions.
Bespoke joinery company, Ludbrook Joinery in Ivybridge celebrated success after being granted £15,452. This will help general expansion to cope with the influx of bespoke joinery demands and help fund a new spray booth improving quality control and moisture control of all products. This will result in increased turnover for the supply chain and provide jobs to the local job market involving apprentice level training.
