WIREDGOV

More than £9 million was allocated to 135 projects in the first phase of the fund earlier this year – creating 980 potential jobs across Wales and safeguarding the future of almost 800 more.

Some of those benefiting include:

• FRIO UK in Havefordwest, which manufacture unique storage wallets for medication, received £80,000 to invest in new production, storage and distribution facilities as well as new product training and conference facilities. The investment will create four new jobs and safeguard nine.
  
• G-TEKT in Ebbw Vale, a manufacturer of metal stamped and welded body parts for Honda, Toyota, BMW and others, received £95,000 to expand their operations on Rassau Industrial Estate, in the Ebbw Vale Enterprise Zone. The investment will help create 10 new jobs.
  
• New café, shop and tourist centre in Conwy. The owners of Glasfryn Parc in Gwynedd have received £75,000 towards creating a café, local produce shop and tourist information centre on the site of the former ‘Little Chef’ premises on the westbound carriageway of the A55 at Penmaenmawr, Conwy. The project will create up to eight new jobs.

Welsh businesses now have until the 16 December to express an interest in applying for some of the remaining £20m.

Economy Minister Edwina Hart said:

"I want to ensure Welsh businesses have access to the finance they need to grow and create jobs. The Welsh Government’s Economic Growth Fund has provided a lifeline for many businesses unable to access support for growth through traditional sources. The first phase of funding targeting smaller businesses, looking for finance of between £50,000 - £100,000, proved very popular.

"This phase has the potential to help create and safeguard up to 3000 jobs across Wales and I anticipate strong interest and advise businesses to submit expressions of interest promptly."

Forms, guidance and frequently asked questions are available on the Business Wales website or can be requested by ringing the business helpline 03000 6 03000.

Once received, the expressions of interest will determine whether businesses are eligible for the fund and if so, they will be invited to submit a full application between 13 January 2014 and 24 February 2014. The process will ensure that companies do not go to the time and expense of completing a full application if they are not eligible for this fund.

Businesses are urged to read the guidance and background information before filling in the forms to ensure they are accurately completed.

A press advertising campaign will also be run raise awareness amongst Welsh business.