They will be available to businesses in rural areas within parts of North Yorkshire and West Yorkshire and not operating in agriculture, fishing, transport or primary food processing. Successful applicants will need to provide at least 13% of the costs of any new project from their own funds.
Other criteria include:
- That the business is in a rural area and contributes significantly to the rural economy
- Its income has been substantially reduced by foot and mouth disease
- It has taken all reasonable actions to reduce costs and is trading at a loss after previous sound trading
Businesses with innovative ideas that can be supported by a demonstratively profitable business plan will be invited to submit a full business plan to the panel by the 29 November 2002.
Companies can check whether or not they are operating in a qualifying area by logging onto www.objectivetwo.co.uk and keying in their postcode.