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New £1.5m fund for small business capital projects opens

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Welsh businesses are being invited to bid for grants from a £1.5m Welsh Government fund for capital projects that aims to encourage investment to support the creation of 250 jobs while also safeguarding and assisting several hundred more.

The SME Small Capital Investment Grant is open to eligible small and medium sized enterprise (SMEs) in Wales. Businesses have until 20th January 2014 to bid for grants of between £5,000 and £25,000 towards the cost of their project at an intervention rate of up to 50%.

Small and medium sized enterprises are vital to promoting economic growth. I want to ensure that they can access the finance they need to grow and create jobs.  This fund is another example of how the Welsh Government is supporting businesses that are unable to access the finance they need through traditional sources. I would strongly advise any small business in Wales looking for investment to consider applying for support through this scheme,” said Economy Minister Edwina Hart.

The fund is managed by the Business Wales one stop shop service. Further information can be found on the Business Wales website or by contacting the Business Wales Helpline on 03000 6 03000.