Specific support has been established for businesses on the Isle of Wight who form part of the Island's rural economy.
We have launched a new Rural Business Resilience Fund for Isle of Wight businesses. Natural Enterprise will manage the Fund on behalf of the LEP, with grants available for capital expenditure of up to £2,500.
Grants will be provided to rural, small and medium-sized businesses which are looking to develop alternative ways of working during the coronavirus pandemic. The grants must be matched with private funds (50 percent of total costs) and the funding will be provided in advance with full evidence of expenditure to be provided within three months.
The projects which businesses choose to undertake must safeguard jobs to be eligible and must also demonstrate how they will benefit the Isle of Wight’s rural economy.