Businesses in Newport have received almost £19 million as part of a support package from the council, due to the coronavirus pandemic.
The grants were introduced by the Welsh Government as part of their response to the outbreak, and are being distributed to local businesses by Newport City Council .
So far 1,408 businesses have received a grant from the council. Businesses receive either £10k or £25k based on the rateable value of their premises.
The total amount distributed so far makes up more than half of the estimated total that the council believes qualifying businesses in the city are able to claim, and the council said its revenues team will continue to work through applications as quickly as possible to ensure all eligible businesses benefit.
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Alongside the grants, the council has also adopted the Welsh Government's Retail, Leisure and Hospitality Rate Relief Scheme for 2020-21 - which means that qualifying businesses will not pay rates for the forthcoming year.
The council is also liaising with the Development Bank for Wales regarding the government’s Economic Resilience Fund announced last month, which is expected to become operational later this month.
Councillor Jane Mudd, leader of Newport City Council, said: “Distribution of these grants, along with the rate relief scheme, are vital to ensure the resilience of our city’s businesses and economy.
“I am very grateful to our revenues team for their efforts in ensuring these grants are reaching eligible businesses as quickly as possible, and we will continue to do everything we can to support our economy during this crisis."
If you believe your business might qualify for the funding, the council is encouraging applications on its website, here.
