These are uniquely exciting times for entrepreneurs who want to set up or grow their business in Wales, said a Regional Manager for the new Development Bank of Wales when he spoke at a recent gathering of Swansea BID (Business Improvement District) businesses.
Alun Thomas, Regional Manager for West Wales, shared insights into the work of the recently established Development Bank, detailing some of the 40 businesses who have benefitted from its support already, and highlighting the Bank’s goal of lending £1 billion within five years, supporting 1,400 businesses and safeguarding 20,000 jobs across the region.
Amelia Rudman, Swansea BID Projects Manager said: “I’m delighted Alun took the time to address our BID Benefits Workshop. The launch of the Development Bank of Wales has been such welcome news for small and medium sized businesses across Wales and it is already helping to invigorate the economy in Wales. I know a number of our BID area businesses have exciting plans for 2018, and with the City Centre regeneration unfolding in Swansea the regional and local economy looks set to enjoy a real boost.”
Alun said: “The Development Bank of Wales and it s services are uniquely tailored to meeting the very particular business landscape of Wales, where a very high proportion of the workforce is employed by small and medium sized businesses, so it is our job to provide support for start-ups and SMEs that are perhaps not getting the one-to-one guidance they need from other finance institutions in order to thrive.
“I was pleased to talk to Swansea BID businesses about the options open to them – whether this is for funding options from £1,000 to £5 million, loan or equity options. And I would be pleades to speak further to business owners or entrepreneurs who want support in getting their business off the ground or to grow an established business.
“There are, of course, challenges in our economy, but I would say too that these are uniquely exciting times for businesses in Wales since there are so many sources of finance and funding, as well as a lot of practical help and advice from experts, to help people make the right choices and get the foundations of their business right.”