2015-16 half-year update
£34 million boost for growing Welsh small and medium-sized
businesses in first six months of 2015 -16 financial
Half-year highlights for the 2015-16 financial
- 1,225 jobs created or safeguarded (696 created and 529
- £17.8m invested in Welsh micro, small and medium-sized
- £16.2m additional investment from banks and other
- £34m growth capital injected into the Welsh economy
- 76 investments in 70 businesses
- New Chairman, Gareth Bullock appointed
From 2001 to end of September 2015
- 39,678 jobs created or safeguarded (16,483 created and 23,195
- £355 million invested
- £536 additional investment leveraged
- 3,435 investments
The combined investments of a range of private-sector funders
and Finance Wales provided Welsh businesses with a £34
million growth capital boost in the first 6 months of the 2015-16
70 Welsh micro, small and medium-sized businesses (SMEs)
benefitted from investments totalling £17.8 million from Finance
Wales and £16.2 million from banks and other private-sector
An additional 696 jobs were created and 529 safeguarded in Wales
between April and September, 2015.
Having launched over £80 million of Welsh Government funds since
2012, more Welsh SMEs are benefiting from the most comprehensive
source of short and long-term funding options ever available from
By the end of September 2015, Finance Wales had invested £7.1
million from its most recently launched Welsh Government funds, the
Wales Capital Growth and Wales Technology Seed Funds, helping Welsh
SMEs create and safeguard over 403 jobs.
30 Welsh businesses benefitted from micro loans totalling £1.2
million in the first half of this financial year.
In May Business Wales, NatWest and Finance Wales joined forces
to launch a pilot referral scheme to increase access to funding and
support. Businesses up to two years old that do not meet the
requirements for loans and other funding are referred to Business
Wales to improve their chances of securing funding.
The impact of investments from the Wales JEREMIE Fund were
reaccredited in July by Business in the Community (BITC) Cymru for
engaging, supporting and doing business with SMEs to drive local
economic growth. Since its 2009 launch, the Wales JEREMIE
Fund has so far helped 600 Welsh SMEs create and safeguard 10,985
Businesses in Finance Wales’ portfolio also continued to go from
strength to strength, with the Wales Environmental Group expanding
its UK presence while SmartKem strengthened its foothold in
Having won the National Best for Innovation award at the 2015
British Private Equity & Venture Capital Association (BVCA)
Management Team Awards in June, Creo Medical then went on to secure
additional funding totalling $8.45 million in September.
Nemesis Bioscience and Jellagen both secured UK smart funding
awards to develop their products.
Gareth Bullock, who became Finance Wales’ Chairman on 1st
October said: “I’m pleased that Welsh SMEs are going for growth and
increasing their impact on the economy with the backing of the
collaborative public-private approach on offer in Wales.
“SMEs will continue to power the Welsh economy in future and they’ll need access to the right funding and support. We’re recruiting a new Chief Executive to drive forward Finance Wales’ strategy and ensure we give Welsh SMEs the best chance to grow.”