By : News Wales
Source : http://www.bbc.co.uk
Category : Small Business Grant
A £40m investment fund to help small and medium businesses (SMEs) has been launched.
The Wales SME Investment Fund was announced last year, but is now "open for business," said Edwina Hart, Business Minister.
The Welsh government says it hopes the fund will create up to 4,000 jobs by providing debt and equity investment to small business.
It is hoped 50% more SMEs will be able to apply for funding via the scheme.
Currently, help for SMEs comes from European funding.
The fund was announced in December 2011, at the same time as a £15m growth fund for small businesses.
The fast track grant fund for investments was set up to provide short-term assistance to businesses in Wales in response to the current global economic crisis.
It enabled Welsh businesses to apply for a minimum of £100,000 of matched funding to create and safeguard jobs.
Source : http://www.bbc.co.uk/news/uk-wales-17528205
