The Welsh Government has recently confirmed that a new scheme, namely Young People into Agriculture Scheme, will open in April and follow on from the highly successful Young Entrants into Agriculture scheme which ran from 2010 to 2015.
The scheme is designed to assist high-achieving young farmers (under the age of 40 at 1st of April 2018) setting up as ‘head-of-holding’ for the first time to develop their business resilience as we transition from the EU. The scheme guidelines and terms are expected to be confirmed imminently, and are strongly rumoured to be based on the following conditions;
• A start-up grant of up to £40,000 will be awarded to successful applicants in three instalments.
• Instalments will be paid to those who have successfully delivered on Key Performance Indicators (KPI’s).
• Applications will be individually scored and ranked in order according to the published selection criteria.
• The window for Expressions of Interest will open on the 1st of April and will close on the 31st of May.
• Existing businesses with a turnover of >£1m or <£20k are excluded from the scheme.
• The selection/scoring criteria for the scheme is rumoured to be made up of the following;
o Business Enterprises.
o Business Structure.
o Academic Qualifications of applicant.
o Continuable Professional Development (CPD).
o Additional activities within the sector.
o Standard output of the business.
o Farming Connect Business Plan objectives.
Note that the start-up grant will be paid in the form of working capital to facilitate the business’ running costs, establishment and development. The grant is conditional on the submission of a business plan. The grant can be used to cover costs, including rent, or for the purchase of land or other assets which are fundamental to establish a viable farming business. The purchase of livestock, machinery items, and farm buildings are also eligible for funding.
For further information on the Young People into Agriculture Scheme, please contact Huw at email@example.com