CARDIFF – The British Business Bank has launched a £130 million investment fund designed to drive sustainable economic growth by supporting small and medium-sized enterprises (SMEs) in Wales. The fund, announced today, will provide Welsh businesses with a variety of financial options to help them scale up and stay competitive in the market.
The initiative marks a significant step in bolstering the Welsh economy by offering loans ranging from £25,000 to £2 million and equity investments of up to £5 million. The funding is intended to assist businesses in expanding, innovating products and services, enhancing processes, developing skills, and investing in capital equipment throughout both urban and rural areas of Wales.
At the forefront of this first-of-its-kind government-backed initiative are appointed fund managers BCRS Business Loans, responsible for managing smaller loans; FW Capital, overseeing larger loans; and Foresight, handling equity investment deals. This strategic collaboration aims to expand support to hundreds of Welsh businesses.
Louis Taylor, CEO of the British Business Bank, highlighted the importance of this expanded support for Welsh businesses. Meanwhile, Welsh Secretary David TC Davies praised the initiative for its potential to spur entrepreneurship and promote growth among smaller companies.
The launch event also featured promotional films and on-site content creation, garnering significant attention from various media outlets such as BBC Radio Cymru and Insider. The coverage underscored the investment fund’s importance for business development in Wales.
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