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
First Minister opens nominations for the 2020 St David Awards19/08/2019 14:05:00
2 new categories will be introduced for the 2020 St David Awards, First Minister Mark Drakeford today announced.
Bangor University secures £4.6 million EU funds for research into low carbon energy efficiency16/08/2019 14:10:00
A new data science hub for green energy is to be created at Bangor University, backed by £4.6 million EU funds.
Finance Minister calls on UK Government to lift cloud of financial uncertainty15/08/2019 16:05:00
The Welsh Government is urging the UK Government to take action to end austerity and stop the reckless game-playing with public services, and provide much needed stability and certainty.
Kirsty Williams congratulates students as A* grades shine in record A-level results for Wales15/08/2019 11:25:00
The Education Minister, Kirsty Williams, has congratulated A-level students across Wales as the top A* to A grades increased this year to 27%, from 26.3% in 2018, a historic high.
Newtown medical manufacturing firm benefitting from part of £2.5million approved to help Welsh businesses cope with Brexit challenges15/08/2019 09:20:00
Almost £2.5million 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.
Funding support for farm businesses announced by Lesley Griffiths14/08/2019 12:05:00
A new loan facility to help farmers who won’t receive their BPS payment on day one has been announced today by Minister for Environment, Energy and Rural Affairs, Lesley Griffiths.
Foundation set up to support farmers struggling with mental health benefits from Welsh Government funding14/08/2019 10:05:00
The Daniel Picton-Jones Foundation ‘has a crucial role to play’ in breaking the stigma of farmers taking about struggling with their mental health, Minister for Environment, Energy and Rural Affairs, Lesley Griffiths, has said.
Consultation on road improvements on A40 between Penblewin Roundabout and Redstone Cross14/08/2019 09:05:00
Motorists, residents and members of the public are being invited to share their views on proposed improvements to a stretch of road on the A40.