The rest of the UK should take a leaf out of the Welsh government’s book, as data shows its investment in small and medium-sized enterprises (SMEs) has grown in the last year.
Figures show that more than £31 million has been pumped into SMEs over the last 12 months, representing an increase of 20 per cent from the country’s wholly-owned investment bank, Finance Wales.
According to the financial organisation, the rise can be attributed to growing confidence in the Welsh economy, which is spurring entrepreneurs to make the first step in beginning their business.
Between 2012 and 2013 alone, the number of people seeking out loans of up to £25,000 doubled and investment in start-up and early-stage businesses increased by 80 per cent.
Finance Wales’ new investments fund manager, Mike Owen said: “Finance Wales has been backing Welsh SMEs at all growth stages since 2001. We’ve continued to invest through the tough economic conditions we’ve been experiencing since 2008.”
“Business confidence has been impacted greatly by a number of factors recently, but I’m pleased that more Welsh SMEs secured investment in 2012 and 2013,” Mr Owen told Wales Online.
Posted by the Secret Businessman