Question to the Leader: 2022/16 - Supporting Small and Independent Businesses
Councillor James asked:
The Leader responded:
However in respect of how we support local businesses, you may be aware that we have the City of Newport Business Development fund for new and expanding businesses and Welsh Government have provided a 50% business rates relief for eligible businesses for 2022/23.
In March this year the Cabinet also announced our own rate relief scheme which gives a further 25% reduction, meaning in most cases eligible businesses will only pay 25% of their total rates bill for 2022/23. This represents a significant financial saving and hopefully goes some way to off-set other operating costs.