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Funding news - 30/11/2017

Welsh Government Launches New Round of Rural Business Investment Scheme - Food (RBISF)

The Rural Business Investment Scheme - FOOD (RBISF) is a capital investment programme designed to support projects that offer clear and quantifiable benefits to the food and drink industry in Wales.

The scheme is intended to support food and drink processing or manufacturing activities currently not eligible under the Food Business Investment Scheme.

The indicative funding allocation under the current round of the scheme is: £500,000 for an expected maximum number of full applications of 25.

The minimum grant will be £2,400. The maximum grant for an individual investment project is 40% of the total eligible cost with a maximum of £50,000 for any individual investment project.

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, including:

  • the construction, acquisition, or improvement of immovable property, with land only being eligible to an extent not exceeding 10% of the total eligible costs of the investment project;
  • the purchase of machinery and equipment up to the market value of the asset;
  • general costs linked to expenditure such as architect, engineer and consultation fees, fees relating to advice on environmental and economic sustainability, eligible to an extent not exceeding 10% of the total eligible costs;
  • acquisition or development of computer software and acquisitions of patents, licenses, copyrights, trademarks.

The scheme is open to applications from a wide range of micro and small businesses (micro enterprises employ fewer than 10 people and small enterprises fewer than 50) involved in food and drink processing and manufacture throughout Wales.

The deadline for applications is 24 January 2018.

Source: Welsh Government, 29/11/2017

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