A new grant for feasibility studies has been launched together with significant changes to the Rural Enterprise Grant criteria.

The alert comes from Balfours Property Professionals, Michael Watney, who has flagged up the major modifications which now mean that farmers and landowners seeking to develop a stream of their business can utilise the "Going for Growth" funding of 50% to a maximum grant of £7,500 on feasibility studies.

According Mr Watney, who heads up Balfours grants department, the changes provide new opportunities which did not previously exist. "The main cost in any grant application is the feasibility study process so this grant is significant. Going for Growth provides fifty per cent of the cost of the research needed to work up a grant application.  

AWM has also carried out a review of one of their major grant packages the Rural Enterprise Grant. Exciting new opportunities have arisen. "One of the most significant additions to the REG is that it will now fund on farm office developments - providing they are not speculative - that might mean much needed office space for the current business or pre-let office space," he explains.

Until now farm shops seeking REG had to be situated on farm, however the Scheme has now recognised that there are situations, not least remoteness, which render some locations impractical for farm shops- the new rules mean it could be sited anywhere - it may even mean taking the shop to the local town High Street, the new criteria also pave the way for greater collaboration.

Mr Watney adds: "There are also changes within REG, further encouraging renewable energy as part of a wider scheme and any waste recycling projects linked to the land based sector."

The fundamental criteria remain: REG is targeted at farm businesses and farm families, plus micro businesses in eligible rural areas. Grants cover up to 40% of eligible costs and not more than £62,500. For more information call Michael Watney at Balfours on 01743 241181.

Pictured: Michael Watney - changes to grant opportunities.