Written question WQ85001
- Asked by
- Natasha AsgharConservative
- To be answered by
- Minister for Economy
- Tabled
- Due
- Answered
- Time to answer
- 5 days
Question
Will the Minister make a statement on the availability of funding for small businesses planning to expand in Wales?
Answer
Answered by Minister for Economy
The Welsh Government provides a comprehensive support package to businesses in Wales and has a dedicated Economy Futures Fund in place to support the growth of businesses.
Business Wales makes it easier for Welsh micro-businesses and SMEs including social enterprises, and aspiring entrepreneurs of all ages to access the information, advice and support they require to start and grow their businesses. I would encourage any business looking to expand to contact the Business Wales Helpline who can explore any support options available. The helpline is available between 10am and 4pm (Monday to Friday) and is closed on Public Holidays. The team can be reached by calling 03000 6 03000 or by visiting https://businesswales.gov.wales/contact-us
The Business Wales website - Business Finance Zone offers specialised guidance and information to help people identify appropriate finance, as well as a Finance Locator https://businesswales.gov.wales/businessfinance/
The Development Bank of Wales helps Welsh businesses get the finance they need to start up, strengthen and grow. It can provide loans from £1k right up to £10m, as well as mezzanine, and equity funding; and helps businesses find the right finance partner to leverage in private finance with its own gap finance when necessary https://developmentbank.wales/.