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New £130m fund to support small businesses in Wales

New £130m fund to support small businesses in Wales
Dan Martin
Dan MartinDan Martin Content & Events

Posted: Mon 27th Nov 2023

The British Business Bank has unveiled a new £130m scheme to provide finance to Welsh small businesses.

The Investment Fund for Wales provides loans and equity investments to help small and medium-sized businesses start and scale.

Three fund managers have been appointed to manage the fund. BCRS Business Loans is in charge of loans from £25,000 to £100,000, FW Capital is responsible for larger loans of £100,000 to £2m, and Foresight is looking after equity investment deals up to £5m.

The funding is aimed at businesses that might otherwise not receive investment, and is designed to help with activities including expansion, product or service innovation, new processes, skills development, and capital equipment.

Louis Taylor, chief executive of the British Business Bank, said:

"Wales is a nation of innovative smaller businesses. These start-ups, scale-ups and established businesses often require initial, or further finance, in order to launch, to maintain momentum, or to develop their full potential.

"This fund, which has been designed specifically for Welsh businesses, is intended to further address the challenges of access to finance and to provide opportunities for business talent in Wales to grow, to develop and to thrive.

"Over the past nine years we have supported thousands of Welsh businesses across urban and rural Wales and with the launch of the Investment Fund for Wales we will be able to go further and deeper, to support hundreds more as they continue to contribute to the ongoing sustainable success of the wider Welsh economy."


The Investment Fund for Wales, which the Bank says is the first solely UK government-backed investment fund for smaller businesses in Wales, is the fourth of six funds set up to even up regional disparities when it comes to accessing business finance.

It follows the launch of a £200m fund for businesses in South West England, a £150m scheme for Scottish businesses and a £70m initiative for businesses in Northern Ireland.

A £400m scheme for businesses in the Midlands and £660m for Northern England opens for applications in 2024.

The schemes were announced by the then chancellor Rishi Sunak in his 2021 Autumn Budget.

Relevant Enterprise Nation resources

Enterprise Nation members can book a free call with a finance expert

Small business funding: How to choose the right type of funding for you

Small business funding: How much money should you ask for?

Small business funding: How to use the money you raise

Dan Martin
Dan MartinDan Martin Content & Events
I'm a freelance journalist and event host who helps small businesses and the organisations that support them. I'm also Enterprise Nation's news reporter and Bristol Local Leader. I have 20 years of experience as a small business journalist having interviewed hundreds of entrepreneurs from famous names like Sir Richard Branson and Deborah Meaden to the founders behind brand new start-ups. I've worked for a range of leading small business publications and support groups, most recently as head of content at Enterprise Nation where I was responsible for the prolific output of content on the company's blog and social media. I now freelance for Enterprise Nation as the website's news reporter and as the host of the Small Business sessions podcast. I'm based in Bristol where I run and host regular events with the local small business community in my role as Enterprise Nation's Local Leader for Bristol. I also have strong connections with other major business organisations in the south west region. In total, I've hosted over 100 events including conferences with an audience of hundreds for international brands like Xero and Facebook and live web chats from inside 10 Downing Street. With my partner, I co-run Lifestyle District, a lifestyle blog focused on culture, art, theatre and photography.

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