Vacant commercial floor space grant

This grant helps businesses with the cost of the first year's rental of premises or additional commercial space in the city centre or Newport district shopping centres.

Who?

The grant is available to individuals, independent businesses and franchisees planning to locate a business in commercial premises within Newport city centre or district shopping centres, excluding retail parks.

What?

The first year's rent on new commercial premises or taking additional floor space for expanding businesses in the city centre or district shopping centres, excluding retail parks.

How much?

A grant of 50% to a maximum of £6,000

Criteria

  • the project must safeguard or create jobs paid at or above the minimum wage
  • applicants should not commit to the premises before receiving written notification of the grant approval
  • grant offers and payments will exclude VAT payments
  • businesses must be planning to locate in Newport city centre or district shopping centres
  • the proposed project must meet council policies and all statutory regulations
  • in determining the level of assistance, we will take into account other sources of funding available to the applicant, including private sources and alternative grant aid
  • one grant is available per property
  • successful applicants will need to have paid all business rates, council tax and other debts to the council
  • the criteria for grant assistance will be reviewed from time to time
  • vacant space in Newport market is not eligible under this scheme

Apply

  • a business plan, 12 month cashflow forecast and one year profit and loss is needed to support your application
  • documentary evidence of the first year's annual rent is required
  • the grant amount will be based on the first year's rental of retail premises and will be 50% of costs to a maximum £6,000
  • grants will be paid directly to landlords
  • the grant offer must be taken up within three months of receiving approval
  • applicants must be starting a new or additional business, taking on additional floor space in Newport or moving a business from outside the city centre
  • grant funding is not available to move a business from one part of Newport to another
  • excludes rental cost when purchasing an existing or established business

Contact

Email business.services@newport.gov.uk or telephone Newport City Council and ask for the business services team