Written question WQ88183

The Welsh Government is investing £20.9m per annum in the Business Wales service from April 2023 until March 2025 to support businesses and boost entrepreneurship.

Business Wales services will be delivered through five key themes to support businesses as follows;

- Digital and helpline service provides a fully bilingual, accessible point of contact offering a full range of information and guidance for entrepreneurs and businesses. This provides impartial tailored information and resources to help navigate business support. The Sell2Wales procurement portal promotes opportunities for businesses to access and win public sector contracts.

- Supporting entrepreneurs and business start-up inspires and develops the capability of entrepreneurs by developing a culture of entrepreneurship and business start-up in Wales focussing on reaching out to young people in education and those under 25 years, adults who are considering starting their own business, and targeted outreach for individuals underrepresented in business start-up and society.

- Development and advisory support builds the confidence and resilience of the business community in Wales through the provision of dedicated advice, support and focussed relationship management. The service provides advice and specialist support in a breadth of helping businesses create opportunities for employment, access finance, seek new markets and improve business practices and their productivity.

- Accelerated Growth programme provides tailored business support, relationship management and specialist coaching for selected pre-revenue and established businesses that can demonstrate the aspiration and potential to achieve high growth.

- Social Business Wales provides a dedicated, collaborative specialist service for social enterprises focused on achieving the outcomes as set out in the ten-year Vision and Action Plan ‘Transforming Wales through social enterprise’. This includes one-to-one business support, to eligible new start and growth social businesses, dedicated employee ownership support and peer mentoring support.