Farmers thinking of diversifying are being urged to get on the front foot by applying for a new grant which has been discretionally apportioned and distributed across England’s local authorities.
The government’s Rural England Prosperity Fund – or the Rural Fund for short – is designed to support farms to fund diversification projects, as well as help rural community organisations improve their services.
The funding is being delivered on a local level in England, and some local authorities have already released details on their first round of funding.
The funds available vary depending on the area, with some local authorities receiving no funding.
Property consultancy Fisher German is encouraging farmers thinking of diversifying to get ahead of the game and have everything in place in anticipation of the funds being available in their area.
Ellie Savage, senior surveyor at Fisher German, said: “It’s important that farmers or rural businesses looking at a new project to boost their income take advantage of available grants, and the Rural Fund is no exception.
“The issue with the fund as it currently stands is that it’s somewhat of a postcode lottery at the moment.
“The government website details which authorities have been allocated funding, but in certain areas, applications are live, and businesses are being encouraged to begin applying.
"In other areas, there is yet to be information released on the application process for the Rural Fund."
As local authorities begin to open their application window, Fisher German says there are a number of discrepancies over whether match funding is required and if there will be more than one round of funding.
The firm says it is also unclear as to whether the allocations will be topped up by the government in the future.
Finally, the aim of the Rural Fund is centred around supporting rural businesses and communities.
Projects must be located within rural areas and include schemes such as the conversion of farm buildings for alternative business use or further capital investment into farm diversification.
Ms Savage said: “It is crucial for each farmer or rural business to know exactly what their area’s criteria consists of before applying for funding.
“Getting expert advice ahead of time will massively increase the likelihood of a successful application for the Rural Fund and ensure that the likely limited pot of money is not rapidly depleted."
