£44m to help businesses grow and create jobs
Economy Minister, Edwina Hart, has announced £44m of EU and Welsh Government funding to extend a service to help Welsh businesses grow and create jobs.
The Small and Medium Sized Enterprises (SME) Support service will be operated under the Business Wales banner for another five years and follows the previous successful programme which advised 15,300 SMEs leading to the creation of almost 2,000 new jobs.
Advice and support on all aspects of growing a business is provided from accessing finance to developing new markets overseas. Support can be accessed online, over the phone, or face to face through the pan Wales network of Business Wales centres.
Mrs Hart said:
“Over 99% of businesses in Wales are SMEs, and they account for 60% of private sector employment, so they are crucial for driving economic growth and creating jobs. Business Wales is now an established ‘one stop shop’ for SMEs looking to grow their business in Wales.
“The comprehensive business support offered through Business Wales combined with an extensive knowledge of the private sector has helped SMEs to manage and grow their business effectively, recruit and train staff, develop their products and expand markets whilst meeting customer demands. I am very pleased we have been able to ensure this business support service will continue for a further five years.”
The SME Support service will be funded by £26m from the European Regional Development Fund and £18m from the Welsh Government.
Minister for Finance and Government Business, Jane Hutt said:
“This investment is an excellent example of how EU funds are supporting Welsh Government initiatives to create a positive climate for business growth in Wales. Over the next seven years a further £1.9 billion of EU funds will be invested in Wales to underpin economic growth and jobs, including investments for Welsh businesses to compete successfully in the global economy.”
Award-winning independent TV production company Chwarel in Gwynedd received support from the service in a number of ways from accessing funding to help with employment policies and equality and diversity processes.
Chwarel was established in north Wales in 2002 by entrepreneur and experienced TV director Sioned Morys, who has been involved in the production of a number of programmes for BBC Wales, Channel 4 and S4C.
“We had started to outgrow our previous premises and were looking for the perfect space not only to create new offices but also a multimedia hub and studio space, offering high-tech facilities for other creative businesses who would be attracted to do business in this area of Gwynedd.
“Business Wales was there to help. They guided us through the process of securing the funding we needed from the Wales Economic Growth Fund to purchase a former warehouse and transform it into our new media hub. It was great to have the support of Business Wales when it came to the employment and recruitment aspect of business administration. We want to ensure that we have everything in place when it comes to developing the team; making sure that it is right for both us and employees. We’re now firmly established in Criccieth, and hope that it becomes as synonymous with TV production in Wales as Cardiff or Caernarfon.”
Latest News from
Biodiversity Deep Dive prompts Welsh Government to triple peatland restoration in nature recovery promise03/10/2022 11:05:00
TODAY an expert led ‘Biodiversity Deep Dive’ – commissioned by Welsh Government to assess how nature recovery across land and sea can best be accelerated- has set out its recommendations.
Mini-budget a “huge gamble on health of economy”03/10/2022 10:05:00
Urgent meeting sought with Chancellor.
Time to apply for latest round of funding to transform towns across Wales30/09/2022 14:05:00
The Welsh Government is encouraging local authorities to apply for its latest round of Transforming Towns loan funding.
Welsh company’s interactive prayer mat goes viral thanks to export success30/09/2022 11:05:00
A company based in Newport, Wales, which invented the world’s first interactive prayer mat has set its sights on significant global expansion, with support from the Welsh Government, after seeing its products go viral in the Middle East.
Seven things you may not know about Wales’ new 20mph default speed limit30/09/2022 09:05:00
Wales became the first UK nation to pass legislation to lower the default national speed limit on residential roads and busy pedestrian streets from 30mph to 20mph when the Senedd voted in favour in July this year.
Thalidomide survivors in Wales to get lifelong financial support29/09/2022 11:05:00
The Minister for Health, Eluned Morgan has today announced a lifetime guarantee of financial assistance for those affected by the Thalidomide drug in Wales.
A new chair has been appointed to Powys Teaching Health Board for a term of four years29/09/2022 09:05:00
Carl Cooper has been selected by the Minister for Health and Social Services Eluned Morgan as the preferred candidate following an open and fair competition and will take up the role from the 17 October, subject to the relevant pre-employment security checks.
Chair of the Flood and Coastal Erosion Committee reappointed to continue delivering in the face of climate change28/09/2022 14:05:00
Climate Change Minister Julie James has today announced that the chair of the Flood and Coastal Erosion Committee, Martin Buckle, has been reappointed for a further three years.
Welsh communities invited to build innovative new schools28/09/2022 11:05:00
Welsh local authorities have been invited to bid to build two new schools, the Welsh Government has announced, as it launches its Sustainable Schools Challenge.