The Shop Rent Subsidy grant is intended to help businesses with the cost of the first year’s rental of commercial premises in Newport city centre within the Vibrant and Viable Places area.
Apply now - closing date 17 March 2017
The award of a grant is entirely discretionary.
The grant is available to individuals, independent businesses and franchises planning to locate a business in shop premises within the defined Vibrant and Viable Places area.
First year’s rent on shop premises.
A grant of 50% up to a maximum of £6,000.
• The project must safeguard or create jobs paid at or above the minimum wage
• The applicant 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 the Vibrant and Viable Places area
• The proposed project must be in accordance with council policies and all statutory regulations (e.g. Planning, Trading Standard, Environmental Health)
• In determining the level of assistance the council will have regard to other sources of funding available to the applicant, including both private sources and alternative grant aid availability
• All successful applicants will need to have paid all due national non-domestic rates, council tax or other debts to the council
• The criteria for grant assistance will be reviewed from time to time in the light of experience gained in operating the scheme
How do I apply?
• A business plan, 12 month cashflow forecast and 1 year profit and loss will need to be submitted in support of the application
• Documentary evidence of the first year’s annual rent will be required
• The grant amount will be based on the first year’s rental of retail premises and will be 50% of costs up to a maximum grant of £6,000
• Grant will be paid directly to landlords
• Grant offer needs to be taken up within 3 months of receiving approval
• Applicants must be starting a new business or perhaps an additional business in Newport, or moving a business from outside the city centre
• Grant funding will not be available to move a business from one part of the defined grant area to another
• Excludes rental cost when purchasing an existing or established business
To discuss your project or request an application form please email Newport City Council’s business services team at firstname.lastname@example.org or telephone (01633 656656).