Look alive, you magical people living and working in Cymru: more than £30 million in business funding is going to be handed out by the Welsh government.
The plan is, according to new reports, to encourage jobs growth across the length and breadth of Wales by offering small businesses the funding they need to grow their businesses. The hope is that this will enable Welsh firms to expand and take on new employees, both he permanent kind and those who work on a per-project basis such as a freelancer or an umbrella company contractor.
Edwina Hart, business minister for the Welsh government, says that the new move is the second part of the Economic Growth Fund, a measure instituted to support and reinforce business growth in Wales. Ms Hart says that the massive finance packet will not just act as an economic stimulus by providing the money local businesses need to update equipment and pursue newer and more loftier goals but also provides proof positive that the Welsh government is committed to doing whatever it can to help jumpstart business growth.
The initial release of the money will see smaller scale companies gain access to the money, especially those looking for funding of anywhere from a minimum of £50,000 and up to a maximum of £100,000. Later on this year, the programme is scheduled to be opened up to larger companies in need of more than £100,000 to encourage growth.
Honestly I think it’s an absolutely smashing plan and I hope it does wonderfully. More businesses with the funds they need to get things done means more demand for umbrella workers and freelancers, which is good for the recruitment industry, and who knows – perhaps this trend will spread through the entire UK and not just stop at the Welsh border.
