What is the Start-up Business Grants Newport City?
The grant is available to pre start businesses and SMEs up to 12 months old. Companies/partnerships/sole traders/social enterprises are all eligible. 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 Start-up Business Grants Newport City funding 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.
- The proposed project must be located in the Newport City Council area.
- The project must safeguard or create jobs paid at or above the minimum wage.
- Businesses in any sector can apply, but consideration will be given to whether the project can offer a net benefit to the local economy.
- Applicants should not commit to purchases/rent before receiving written notification of the grant approval.
- Applicants will need to have paid all due debts to the Council.
- The proposed project must be in accordance with all statutory regulations.
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.
