The Newport City Council Business Support Fund has a 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 offers direct financial support to new or existing SMEs in the form of small grants. Grants offered to eligible businesses can support towards costs such as rent, or the purchase of equipment.
The City of Newport Business Grants for 2021/22 will proceed along similar lines to previous years, by targeting support to start-up and expanding SME businesses. However, through the aftermath of the health crisis and beyond, there will be a need to react to emerging economic challenges, and assist businesses seeking to embrace new ways of working.
In order to support the Council’s aims around economic recovery, fairness and equality, and the Wellbeing of Future Generations, the Council will offer a greater level of support to SMEs able to demonstrate a contribution towards innovation and progressive business.
Grants are available from Newport City Council for start ups and existing businesses operating in Newport.
Grants of up to £5,000 are available outside the city centre and up to £10,000 for city centre businesses - up to a maximum 50% of eligible expenditure. Elements of these grants are discretionary based on various economic and wellbeing objectives. (See the guidance document for full details)
- The grant is available to Start up businesses and existing SME’s
- Companies, Limited Liability Partnerships, Partnerships, Sole Traders, Community Interest Companies/Social Enterprises and Co-operative Societies are all eligible
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 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.
The grant is available towards the following elements:
- First year’s rent when taking on commercial premises. (Eligible businesses are start-ups, or existing businesses who are taking on additional/larger premises or those who have been trading from home and are relocating to commercial premises)
- ICT equipment and software
- Website development and related training
- Accredited training (short courses for up-skilling staff members)
- Business/IT consultancy, professional fees and accreditations
Please note: This grant cannot be used towards salaries, the purchase of vehicles, stock/consumables, marketing collateral, statutory or refresher training and/or licences. All grants will be awarded at the discretion of Newport City Council.
Do not commit to premises, or any expenditure you are requesting funding for, prior to receiving a grant offer in writing. Funding cannot be awarded retrospectively.
How Do I Apply?
If you have read the guidance, feel you are eligible for the grant and wish to apply, please complete all the requested fields on the online Expression of Interest (EOI) form below.
- This form is only used to assess broad eligibility for the Business Support Grant. Completion of this EOI form does not constitute an application, or a guarantee of funding. You will be notified of your suitability and the application process once we have reviewed your EOI.
- In addition to the City of Newport Business Grants, Newport City Council administers a start up grant scheme for new starts and businesses up to 1 year old - funded by UK Steel Enterprise. If we feel you are eligible for this particular grant we will inform you following the processing of your EOI.
Further information on the support available to businesses can be found on our website. Also, if you are not currently receiving our e-newsletter (which provides regular updates on the support available for businesses) but would like to, please sign up here to be added to our database.