City of Newport Business Grants

Business grants

 

PLEASE NOTE: Due to an extremely high number of applications, the City of Newport Business Grants are currently paused.

For information on potential grants for April 2022 – March 2023, please continue to check this web page or contact business.services@newport.gov.uk 

The Newport City Council Business Support Fund

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 rent, or the purchase of equipment.

 

Start Up Businesses

Start-up costs will only be considered eligible where:

  • There is a new business registration 
  • The new business creates a minimum of one new full-time equivalent (FTE) job (this can include the business owner(s)). Please note, the Council will support part-time job creation, however the maximum sums will reduce pro-rata to the FTE equivalent of the jobs created. This post must hold a minimum contract term of 12 months and be paid at the national living wage or there must be a commitment to do so within 12 months.  Documentary evidence of the creation of the post and contracting of the employee will be required within 3 months of the award and will be monitored periodically.

 

Existing Businesses

Existing Business expansion/growth projects. Project costs will only be considered eligible where:

  • The project creates a minimum of one new full-time equivalent (FTE) job using PAYE. Please note, the Council will support part-time job creation, however the maximum sums will reduce pro-rata to the FTE equivalent of the jobs created. This post must hold a minimum contract term of 12 months and be paid at the national living wage or there must be a commitment to do so within 12 months.  Documentary evidence of the creation of the post and contracting of the employee will be required within 3 months of the award and will be monitored periodically. 

 

PLEASE NOTE: Due to an extremely high number of applications, the City of Newport Business Grants are currently paused.

For information on potential grants for April 2022 – March 2023, please continue to check this web page or contact business.services@newport.gov.uk

 

 

 

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