Wells: £1 million in grants available to support small local businesses

Small businesses in Wells could benefit from a new scheme providing £1 million in grants across Somerset and Devon.

The £1 million was made available by the Rural Enterprise Grant Programme (REG), a joint project set up by the Department of Food and Rural Affairs and Rural Development Programme for England.

The REG programme aims to support 'micro-enterprises' operating in rural areas.

Councillor Philip Ham, Mendip Council's Policy and Performance Chief, said: "These new grants are a great opportunity for small enterprises across Mendip to develop, grow and achieve their full potential.

"Through supporting smaller businesses in the district, these grants will hopefully encourage larger scale rural economic growth and greater employment opportunities.

"This will help to ensure that our rural communities remain active and vibrant places in which to live and work."

The first £500,000 will be allocated by July 2013 and the remaining sum allocated by December 2013.

Businesses must have fewer than ten employees to be eligible and must also show that their company enables wider benefits such as jobs created, economic growth sustainability and benefits to other local businesses.

The grants will cover up to 40% of the project cost and the remaining 60% must be covered by the business.

To find out if you're eligible to apply, visit www.heartofswlep.co.uk/rural-growth-grants. If you are deemed eligible you will be invited to submit a full application at a later date.

For more information, visit www.heartofswlep.co.uk/rural-growth-grants.