D2N2 to utilise new European funding to benefit rural businesses across the area

January 20, 2014 9:59 am

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Rural businesses across Derbyshire and Nottinghamshire are to benefit from more than £6m of funding thanks to the D2N2 Local Enterprise Partnership.

The LEP has been allocated these funds from the European Agricultural Fund for Rural Development (EAFRD) to help stimulate growth, develop skills and boost the local economy through rural businesses.  Businesses will be able to access the funding between 2015 and 2020 and the award comes from a pot of £177 million being divided between the 39 Local Enterprise Partnerships (LEPs) in England.

The funds are in addition to the £210m already earmarked to D2N2 – the Local Enterprise Partnership for Derby, Derbyshire, Nottingham and Nottinghamshire – from the European Regional Development Fund (ERDF) and the European Social Fund (ESF), which was announced in June.

D2N2 Chief Executive David Ralph said: “This news is very much welcomed, as it will enable our rural businesses to have the extra boost to their investments. The rural D2N2 area is predominantly made up of small enterprises which are often very resourceful and creative, such qualities that should be harnessed to build stronger rural economies within the communities.  This funding could make a step change to help businesses develop new projects, build stronger supply chains, create jobs and provide skills training.  The key will be to target support to new and existing businesses when they need it and to make available all the tools for them to innovate and become strong.”

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