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Blaenau Gwent Leading Welsh Region to Start New Business

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Over the last four months, more businesses have started up in Blaenau Gwent than 20 of the other local authority areas in Wales.

Information provided by BankSearch Consultancy Ltd claim that 45.9% more businesses started up in Blaenau Gwent during the first four months of this year, compared with the corresponding period of last year. This growth rate ranks Blaenau Gwent second out of the 22 Welsh districts.

There is a feeling of renewed vigour in the area and support for starting a new business has never been better.

One way Blaneau Gwent CBC are supporting businesses is through the BG Effect Business Fund. Grant assistance of up to £2,000 can be offered towards business start-up costs for someone who is thinking of starting up a new business in Blaenau Gwent.
The grant scheme which has been in effect since November 2017 has supported 25 new business and 31 full time positions start-ups in Blaenau Gwent. These vary from sole traders in beauty, photography and financial services to community gyms, food and allergy testing and energy procurement providers.
The BG Effect Fund has supported a number of well-being based start-up businesses across the borough including Simply Hair by Lisa; The Barber Lounge; Pampered to Perfection; Cabello Hair and Glitz N Glimmer Beauty. 

 

The BG Effect Fund has also helped establish the following professional start up services:

  • PiQ Laboratories based at the Innovation Centre in Ebbw Vale, are a specialist allergen and food authenticity testing service. Since receiving their grant approval in May 2018, PiQ Laboratories have progressed steadily to employ 7 members of staff, with plans to recruit for a part-time administrative post and junior scientist.
  • Bespoke Accounting Services Ltd based in Tredegar, offer a range of financial accounting solutions for businesses in Blaenau Gwent. Services include Annual Self-Assessment, Corporation Tax, Payroll, Management Accounts, Account System Implementation and Finance Director Services. Grant support assistance was provided with promotional material, website hosting and office furniture.
  • C.O.B.R.A Music applied for BG Effect Funding to assist in the start-up of a musical ensemble recording business based in Ebbw Vale. The business was finalist in the Wales Start up Award 2018 and benefited from funding to purchase duplication equipment and CD Printers. They have progressed to build a solid client base including Gwent Music, Christ College Brecon, Orpheus Tredegar, Tylorstown Band and local choir groups.
  • Community Fitness & Wellbeing Ltd in Brynmawr has also accessed BG Effect funding and has seen a huge increase in members who benefit from using a fitness facility in the town centre. The gym, which has been developing steadily in its first year of operation, has increased accessibility for the health and wellbeing of local residents and offers volunteer opportunities for members. The BG Effect grant assisted in the purchase of new gym equipment including kettle bells, dumbbell sets and a cable crossover system.
Other specialist start up support is available from a number of partner agencies such as Business Wales, Princes Trust, Business in Focus and the Development Bank of Wales. In addition, the Chamber of Commerce offer support for businesses that are or thinking of exporting in the future.
If you have a business start up idea and would like further information on how the BG Effect Fund or additional specialist support could assist your entrepreneurial aspirations, please give us a call on 01495 355700 or email us on [email protected]

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Business News Wales