Almost £2.5 million approved to help Welsh businesses cope with Brexit challenges
Almost £2.5 million has been approved to help Welsh businesses adjust to the challenges of Brexit since the Welsh Government’s Brexit Business Resilience Programme was launched last year, Economy Minister Ken Skates has announced.
A total of 51 eligible businesses have been approved for funding of between £10,000 and £100,000 as part of the Brexit Business Resilience Grant Fund, so they can invest in overcoming immediate challenges related to Brexit.
Among the companies to have benefitted from the support is Abergavenny-based Peter Jones (ILG) Ltd - one of the world’s leading providers of carrying solutions for security and communication equipment.
After identifying potentially negative impacts on its supply chain and attractive product offering, the firm applied for a Brexit Resilience Grant totalling £49,500.
This enabled the company to invest in two plastic injection moulding machines allowing the business to manufacture several components in-house rather than importing them from Europe.
Peter Jones (ILG) also plans to invest additional grant money in testing equipment and fixtures for its design and production departments to ensure its products are of the highest quality should Brexit-related costs have to be passed on to customers.
Morgan Jones, Director of Peter Jones (ILG) Ltd, yesterday said:
The guidance and advice received from Business Wales facilitated a smooth completion of the grant application process, with the finance being received within a matter of weeks.
This has already enabled us to purchase and install some of the required equipment, with the delivery of the remainder imminent.
Through engagement with Business Wales, we also became aware of other services offered such as advice for developing international markets, including funding for exhibiting at international trade fairs, while marketing personnel also attended a free course on the latest practices and techniques for improving online presence.
Economy Minister Ken Skates yesterday said:
The threat of a no deal Brexit continues to cause deep uncertainty in our economy, threatening jobs and people’s livelihoods.
Many businesses have engaged with the Brexit Resilience Grant Fund we established to help future proof our economy and work with the business sector to prepare for the challenges ahead.
It is clear that this support is helping companies across Wales to navigate immediate Brexit burdens and uncertainties and to develop new collaborations and innovations. I would urge any Welsh company to find out how Business Wales can help them manage and prepare for the ongoing uncertainties of Brexit.
The Brexit Business Resilience Grant Fund is currently fully committed, but work is under way to make more funding available.
To find out more about the support available through the Brexit Business Resilience Programme visit Business Wales
Latest News from
Education Minister’s ‘deep concern’ over UK government’s student number controls proposals01/06/2020 09:33:00
Education Minister Kirsty Williams recently (29 May 2020) wrote to the Minister of State for Universities expressing a ‘deep concern’ over plans to announce the UK government’s intention to introduce temporary student number controls in response to the COVID-19 pandemic.
Shielding people can meet others and exercise outdoors31/05/2020 09:05:00
Changes to advice for people shielding from coronavirus are being introduced from Monday 1 June, Minister for Health and Social Services Vaughan Gething has announced today.
Stay local to keep Wales safe: changes to the lockdown announced29/05/2020 13:25:00
Plans to allow family and friends to meet outside have been unveiled by First Minister Mark Drakeford as the strict stay-at-home coronavirus (COVID-19) regulations are eased in Wales.
Wales' critical care for coronavirus in numbers29/05/2020 09:05:00
Critical care has played a crucial – and often life-saving – role in the treatment of people who have been seriously ill after contracting coronavirus in Wales.
Welsh Government announce new £20 million fund to transform homelessness services and ensure no-one need return to rough sleeping28/05/2020 14:05:00
Housing and Local Government Minister Julie James has announced new funding of up to £20 million to help ensure that no-one in emergency shelter during the coronavirus crisis has to return to the streets or unsuitable accommodation.
New £150,000 fund to help digital firms develop technology to combat coronavirus28/05/2020 09:05:00
The Welsh Government has announced a £150,000 fund for healthcare firms to find new ways to use digital technology to combat coronavirus.
£640 million reaches businesses in £2.4 billion Welsh Government COVID-19 response27/05/2020 14:05:00
The Finance Minister Rebecca Evans will set out the extraordinary steps the Welsh Government has taken to dedicate more than £2.4 billion to the coronavirus (COVID-19)crisis when the supplementary budget is published later today.
Launching risk assessment to support BAME workers27/05/2020 09:05:00
A new risk assessment was yesterday launched to support people from BAME backgrounds in the NHS and social care in Wales.