Launch of the £136 Million Wales Business Fund
The programme has a total budget of £136 Million.
The new fund supports SMEs based in Wales or willing to relocate. It can:
provide business loans and equity packages from £50,000 up to £2 million;
back start-ups, established SMEs and start-up/early stage tech ventures; and
support businesses across a wide range of sectors.
The scheme forms part of a pro-business package, announced by Economy Secretary, Ken Skates. It will be complemented by the establishment of the Development Bank for Wales which will ensure improved access to finance for SMEs and significantly drive up investment in Welsh business.
The Economy Secretary announced that work to establish the Development Bank was progressing well and that the Welsh Government had received and was evaluating a detailed business case with a view to the Development Bank being up and running by the second quarter of 2017/18.
Established SMEs and start-up/early stage tech ventures in Wales may apply.