Finance Wales Reports Surge in Investments in Enterprises

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Byline: By David Williamson Western Mail

A surge in the number of investments in small-to-medium sized Welsh businesses has been reported by Finance Wales.

The organisation was founded by the Assembly Government to provide commercial investment for Welsh businesses. It aims to have invested pounds 100m by 2008.

It invested more than pounds 10m between April to September of this year - the greatest amount in such a period in its history.

More than pounds 24m of private sector funds has been brought in on the back of these investments, resulting in a cash injection of more than pounds 35m invested into the Welsh economy in the first half of this year.

It is now seeking to significantly raise this level of investment further.

Peter Wright, investment director for Finance Wales, said, 'We have made some particularly good investments in the first six-month period and these have made a substantial difference to both the individual business and to the local communities. These figures are very encouraging and reinforce our belief that confidence has returned to the Welsh investment market place.

'We are continuing to provide significant funding opportunities for Welsh businesses and are confident that our goal of investing pounds 100m by 2008 will be achieved. On the back of this success we will be working to attract substantial additional funds for future investments post-2006.'

Owners and managers of SMEs are being encouraged by the body to take the opportunity to seek finance to assist them in the growth and development of their businesses. …