Over €5m in rural funding earmarked for Munster
LEADER funding supports rural businesses seeking to reach new markets, and expand, innovate or diversify in response to trends such as Covid-19 and Brexit. Picture: David Creedon.
€1,267,165 in rural funding is on the way to Co Cork, after Minister for Rural and Community Development Heather Humphreys announced the final allocation of €20m in 2021 and 2022 funding for the LEADER Programme.
The programme supports private enterprises and community groups in rural areas.
The LEADER funding will be delivered by local action groups around the country, responsible for identifying and helping to develop rural projects for economic development, social inclusion and protection of the environment.
All projects must be completed before the end of 2023.
There will be a focus on developing the digital economy and on remote working, through projects that maximise the potential of broadband.
Minister Humphreys urged all communities and local enterprises that wish to avail of this funding to make contact with their local action group or its implementing partner, to discuss how the LEADER Programme can assist their plans.
In Co Cork, the Local Action Groups are the Cork North, Cork South, and Cork West Local Community Development Committees.
Their Implementing Partners (Local Development Companies) are Avondhu Blackwater Partnership CLG, Ballyhoura Development Ltd, and IRD Duhallow Ltd (in Cork North); Avondhu Blackwater Partnership CLG, IRD Duhallow CLG; South and East Cork Area Development Partnership CLG, Údarás na Gaeltachta (in Cork South); Avondhu Blackwater Partnership CLG, South and East Cork Area Development Partnership CLG; and Comhar na nOileán Teoranta (in Cork West).
Elsewhere in Munster, the final allocation of €20m for LEADER in 2021 and 2022 funding includes €810,930 in Co Clare; €929,079 in Co Kerry; €843,327 in Co Limerick; €918,495 in Co Tipperary; and €683,891 in Co Waterford.
The LEADER application process can be lengthy but the benefits for a rural business are significant, advises Patrick Black of the IFAC accountancy firm.
He said LEADER sets out to support rural businesses seeking to reach new markets, expand, innovate and/or diversify in response to trends such as Covid-19 and Brexit. Alongside the wider fund, a specialised stream for food businesses is available.
The level of funding available varies depending on the project and county in which a business is based, but generally funding of up to 75%, to a maximum of €200,000, is available for capital works, consultancy or machinery upgrades.
Eligible businesses are those with an annual turnover of up to €10m and employing fewer than 50 people.
Some Local Community Development Committees operate open calls, which means they will accept applications at any point throughout the duration of the programme.
Others operate targeted calls, which means they will only accept applications during particular periods.
According to Patrick Black, applicants should have detailed business plans with strategic focus, backed by strong financial projections, to increase their chance of securing funding.
“Managing all aspects of the application process can be tricky. Create a filing system that works for you.
"Track every email, quote, invoice, payment, etc in relation to the project as you go. This will be vital at the funding drawdown stage.
“Do not commence any work until you have been approved by the LCDC, as it could put the funding in jeopardy.
“Invest time in completing your expression of interest form.
"Putting your best foot forward initially is key."
Mr Black says the first step is to engage with the LCDC and build a relationship with the Rural Development Officer.
If an expression of interest is successful, a full application will be invited.
Once the project has been completed, and the bills paid, LEADER will evaluate the project and the business can reclaim up to 75% of the fees for the project.
