- Posted by: Mike Hedges MS
- Category: Press Releases
MIKE HEDGES AM WELCOMES NEWS THAT WELSH START UPS BENEFIT FROM OVER £15 MILLION OF LOANS
Nearly 2,000 Welsh start ups have benefited from over £15.5 million of Welsh Government-backed loans aimed at getting new businesses off the ground.
Mike said…small business are the back bone of local communities and play vital roles in local economies. Their success is vital to many of our outlying shopping districts for example. I am therefore pleased that the Welsh Government is supporting these important business. I have visited many in Swansea East who have benefited from this scheme. I urge any people starting a business to check the criteria and to meet the scheme advisers.
Latest figures from the UK-wide Start Up Loans Company (SULCO) show that since the fund was established in Wales in October 2013, it has provided support and loans to 1943 new and early stage Welsh businesses, with an average lending amount of around £8000 per company.
The figures mean that over the last 4 years an average of 2 new Welsh businesses a day have benefitted from funding from the Start Up Loan Company.