£15m growth fund launches in Wales


A new £15m fund designed to provide growth capital to businesses in Wales has officially gone live.

The Wales Economic Growth Fund (WEGF), conceived just four months ago, will provide non-repayable grants to companies which are striving for rapid growth. Individual companies can apply for up to £100,000 in match funding through the WEGF, which is being managed by Finance Wales and funded by the Welsh Assembly, in tandem with Barclays Bank. Those behind the scheme anticipate that around 100 businesses will benefit over the coming months. The closing date for applications is January 31, and Welsh business minister Edwina Hart is urging interested parties to “move swiftly” in declaring their interest. Hart continued by claiming that “the Welsh government is listening and responding to the needs of business” in an attempt to foster growth and safeguard jobs. To apply for funding, or find out more, visit www.business.wales.gov.uk/growthfund or www.busnes.cymru.gov.uk.

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