Looking to diversify or develop your business?
The application window for the Welsh government's Rural Business Investment Scheme closes on August 20.
RBIS (non-agricultural) covers capital investments costs and supports projects in Wales that contribute to one or more of the following – the diversification of the rural economy; the development of the supply chain for natural products; increasing the productivity, efficiency and competitiveness of rural businesses.
The scheme is open to existing and start up non-agricultural micro and small enterprises including farmers diversifying into non-agricultural activities. It is open to applications from individuals wishing to start a new non-agricultural business and new/existing sole traders and/or businesses already involved in or wishing to diversify into non-agricultural activities.
The application will be assessed in two stages. The stage will be an assessment and scoring against the published selection criteria, and if selected your application will be subject to a full appraisal.
Support can cover tangible assets such as land, buildings, machinery and equipment and intangible assets such as computer software, patent rights and licences and technical and consultancy fees.
The maximum grant rate for any individual investment project is 40 per cent of the total eligible costs. The maximum grant threshold per undertaking for any individual investment project is £50,000, and the minimum is £5,000.
Kathryn Williams, Davis Meade Property Consultants
