Newport City Council is now able to offer business grants thanks to a partnership with UK Steel Enterprise.

The funding from Tata subsidiary UKSE, can be used as grants for start-up businesses and existing businesses under 12 months old.

Councillor John Richards, cabinet member for regeneration and development, said: “I hope that this financial help will kick start some new ventures in the city or give a helping hand to fledgling companies.

“The council is doing what it can to help businesses but we are also in a difficult financial climate so we are grateful to UKSE for their support in this important area. Successful companies do not just benefit those who run them and their employees but also the wider local economy.”

Andrew Morris, UKSE area manager in Wales, said: “UK Steel Enterprise is tasked with the responsibility of helping the economic regeneration of communities affected by changes in the steel industry. We are delighted to be able to support Newport City Council in their work with new and young businesses, bringing employment and prosperity to the area.”

Newport City Council also offers low interest loans to new and existing businesses.

In recent years, the business services team has helped hundreds of entrepreneurs set up in the city. As well as financial support, the team can help find suitable premises, guide businesses through council regulations and direct them to expert advice.

To find out more about the grants, including eligibility, or other business support visit www,newport.gov.uk/business, email business.services@newport.gov.uk or phone 01633 656656.