13 February 2013

Welsh Government Announces More Growth Fund is Available

It was  announced today by the Business Minister Edwina Hart another part on the Wales Economic Growth Fund that will be available to Businesses in Wales, furthermore the applications to the Growth Fund will be open as soon as next month.

On this announced part of the Growth Fund it comprises funding of around £30m, where this funding is designed specifically to help the Welsh economy by creating jobs, thus economic growth by supporting Businesses.

Specifically, this latest announcement is to help create and safeguard up to 3,000 jobs and envisaged to help around 200 businesses across Wales, and the available funding can be applied by Businesses looking for around £50,000 and £100,000.  The next stage for Businesses is to present Expressions of interest between the dates of  the 1st March 2013 and the 5th April 2013. 

This follows on from the Welsh Government statistics which shows that the previous Growth fund part generated much interest from Businesses where the total application funding was of around £100m.

Re-launching the Fund Minister Edwina Hart stated: “The economy and jobs are top of the Welsh Government agenda and this latest £30m injection of finance reinforces our commitment to support business growth. It will act as an economic stimulus and provide the capital that businesses in Wales need to invest in new equipment, grow their companies, win new contracts and create jobs and wealth. The Economic Growth Fund, which first opened for business in 2012, has proved to be a highly successful intervention by the Welsh Government. It provides fast track access to finance when traditional methods of funding are no longer readily available. I am pleased to announce this second phase today that has the potential to help create and safeguard up to 3000 jobs across Wales.”

Further information is available on the Business Wales Helpline 0300 0603000 or by visiting the Growth Fund web portal.

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