Posted: Sat 15th Oct 2016

City Businesses To Get £60,000 Boost From Council

This article is old - Published: Saturday, Oct 15th, 2016

Newport City Council has confirmed the launch of a business development fund which will be used to help new businesses set up shop in the city centre. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Councillor John Richards, Cabinet Member for Regeneration and Investment, has supported four proposals to stimulate economic growth and investment in the city using a £60,000 funding pot. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

One of the innovative ideas to be implemented is to use around £30,000 to tackle the issue of empty retail units in parts of the city centre. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Councillor Richards said: “We recognise that people can be discouraged by the cost of rents and business rates. As a council, we have no control over these, but we want to support entrepreneurs who would like to open up in the city centre so it has been decided to offer a number of retail grants. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

“We will be offering retail grants of up to £6,000 per shop towards the costs of setting up a retail business in Commercial Street and High Street. This could give a great first start to people looking to open new shops in the city centre. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

“As a council, we thought it was important for businesses in the city centre to work with us to implement a programme of improvements and events. As a result, the business improvement district, Newport Now, was established last year. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

“We will shortly be exploring with Newport Now, the possibility of commissioning a company to market some of the larger vacant units by targeting national chains that don’t yet have a Newport presence. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

“We are also planning to help start-up businesses “test trade” following a planned pop-up event aimed at giving advice and support to budding entrepreneurs. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

“Finally, we are proposing to use some of the fund to establish and support a Newport Business Awards event which would allow us to celebrate all the great ventures we have in the city.” ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​



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