The Newport City Council Business Support Fund
The next rounds of the City of Newport Business Grant Scheme and Accelerated Business Growth Grant Scheme are now open.
The Newport City Council Business Support Fund has the general aim of stimulating economic development in the city. Eligibility and conditions reflect current strategic objectives for the local economy, as set forth in the Council’s Economic Growth Strategy.
The Fund criteria may vary from year to year, but it offers direct financial support to new or existing SMEs in the form of small grants. Grants offered to eligible businesses, who meet the required criteria, may support towards costs such as the purchase of equipment.
City of Newport Business Grants
Grants of 50% of net costs up to £2,500 are available for businesses outside the city centre and grants up to £5,000 for those located within the city centre.
The grant can be used as match funding towards up to five capital equipment items. Specifically, this covers, plant and equipment, ICT equipment and software, and/or website development and related training.
This grant cannot be used towards salaries, signage, furniture, property refurbishment, the purchase of vehicles, stock/consumables, marketing collateral, training and/or licenses.
Applicants need to evidence that they have existing funds to cover the total cost of the investment, as the grants are paid retrospectively.
Please note: all funds must be spent by the end of March 2025. There is a limited amount of funding available, and the grant scheme will close once all funding has been allocated, which may be before the end of the financial year.
Only businesses with an eligible investment project will be invited to apply.
Please email [email protected] in the first instance.
Accelerated Business Growth Grant Scheme
The City of Newport Accelerated Growth Grants Programme comprises grants valued between £25,000-£75,000, available for businesses, at an intervention rate of 50%, towards capital investment activity that either allows a well-established, new to the region business to set up premises in the City of Newport; or allows an existing Newport-based business to accelerate their growth ambitions with a significant contribution towards investment.
If you think you will be making an eligible investment in the next 6 weeks, that you can demonstrate will lead to business growth and further job creation, please provide an outline of your project to [email protected].
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