Business News Wales, an independently owned Welsh media business, has secured significant investment which will see it offer new services and enhanced editorial coverage.
The new funding is from a private investment group comprised of some of Wales's most successful entrepreneurs.
It will allow the company to expand its coverage, grow its audience, and enhance its services for clients across and beyond Wales. This will begin with the launch of its new website on May 13th.
Business News Wales, which is now in its ninth year of trading, has become an essential resource for CEOs, leaders, entrepreneurs, senior civil servants, and government officials, reaching up to 15,000 readers every day across Wales.
This investment marks a significant milestone in the company's journey, enabling it to build upon its reputation as a trusted Welsh-owned media company and broaden its impact in the business community.
Mark Powney, Managing Director, said:
“We are thrilled to accelerate our growth, expand our editorial team, and enhance our technology to deliver a better experience to our readers and clients.
“I am also excited at the prospect of drawing upon the knowledge and experience of many of Wales's most successful business leaders and entrepreneurs who have come together to give me and the team an unbelievable opportunity.
“Ambition is in our DNA at Business News Wales, and now we have the growth funds to take us forward. But we know that scaling up isn’t only about having the funds – I am thrilled to have the backing of investors who have ‘been there and done it’ and who bring incredible levels of experience in growing businesses across various sectors. That makes me even more optimistic that we are able to develop something that has a real economic impact in Wales.”
The funding will be strategically allocated to several key areas:
Enhanced Editorial Coverage: Increasing the breadth and depth of news reporting to include more sectors and regions within Wales. This coincides with the recent appointment of Gemma Casey as the new editor and Llio Roberts as its North Wales reporter.
Audience Expansion: Implementing a number of product development and promotional campaigns to grow the publication’s reader base. Funding has also been allocated to sister platforms skills.wales and Greeneconomy.wales.
Client Services Improvement: Developing new services and expanding existing offerings for clients.
This strategic expansion is designed to not only enhance the value provided to current readers and clients but also to attract a broader audience and new business partnerships.
A spokesperson for the investor group said:
“We are impressed with the vision and performance of Business News Wales and are excited to support their next phase of growth. Their dedication to fostering informed business communities is more important than ever, and we believe this investment will help them scale their valuable services not just in Wales but across other regions of the UK.”
While the Welsh media sector has experienced various setbacks over the last few years, the investment is expected to have a lasting positive impact on the Welsh economy by providing businesses with the knowledge and insights needed to thrive in an increasingly competitive market.
