Economy

Porto de Tradição Municipal Fund pledges a total of 400 thousand euros to support historic stores

  • Article

    Article

#fib_Moldursant.jpg

Filipa Brito

The Porto de Tradição programme advances a 400 thousand euros municipal fund to support afflicted businesses and stores, as well as entities. Nineteen shops have successfully applied to the financial aid regarding restoration of spaces and investment solutions for business sustainability. The next Executive Meeting will vote on this matter.

Applications to the second edition of the fund ran between August and September, last year, once the Municipal Executive approved the programme’s continuation. “There were 21 applications received, namely 19 shops and 2 entities”, as informed by the proposal of the councillor for Economy, Tourism and Trade, Ricardo Valente.

This results were based on criteria as defined by the jury and approved by the Executive body.

“It is not uncommon for business owners to be out of the means to restore, renovate or maintain their patrimony. For that very reason, investment aids in means and modernisation tools, or business promotion fade into the background, which means that there will be a reduced capacity towards business sustainability”, which underpins the document that will be voted on 22nd February.

The value assigned to each of the 19 shops in this second edition of the municipal fund does not exceed 25 thousand euros.

From the start of the Fund, in 2016, 91 shops and four entities, such as Teatro Sá da Bandeira, Orfeão do Porto, UNICEPE - Cooperativa Livreira de Estudantes do Porto and Liga Portuguesa de Profilaxia Social, have been acknowledged under the Fund. The Porto de Tradição programme acts as a plus protection and boost to their activities.