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HSBC UK Commits £550m to SMEs in Wales

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HSBC UK today launches a £550 million lending fund to support small and medium-sized enterprises (SMEs) in Wales as part of its commitment to help businesses realise their ambitions for growth and navigate Brexit.

The Wales SME Fund is part of a wider £14 billion fund for SMEs across the UK. Since launching the SME Fund in 2014, HSBC has committed more than £60 billion to UK SMEs as part of its commitment to help British businesses innovate, evolve and grow.

The HSBC UK 2019 Fund includes increased ring-fenced pots for international businesses and for the agriculture sector.

The allocation for international business has been doubled to £2 billion to help companies grow overseas, while the agriculture pot has increased to £1 billion from £300 million last year.

Nigel B. Davis, HSBC UK’s Regional Business Banking Director for the Western & Wales region, said:

“The launch of this year’s fund shows our commitment to support the growth aspirations of SMEs across Wales.

“This fund is all about helping businesses to take new opportunities and grow and we want to reassure them that we’re here to support them achieve their goals.”

HSBC UK has recently supported Bravura Foods, an ethical food and drink distributor in South Wales, with a seven-figure finance package. The firm, which has a portfolio of ten vegan and vegetarian brands including two of its own brand products, has used the funding to streamline its operations process as the company continues its fast growth strategy.

The owners of a Welsh holiday park, Barker’s Leisure Holiday Parks, have also recently used HSBC UK funding to purchase a fourth site in Narberth. The luxury holiday park, Heron’s Brook retreat, lies at the heart of the Pembrokeshire countryside.

Amanda Murphy, Head of Commercial Banking at HSBC UK, added:

“Our SME Fund will help companies seize new opportunities for growth at home and overseas.

“We’ve always supported ambitious businesses, and we see it as our responsibility to be there for our customers whether conditions are benign or challenging.

“This year’s Fund is therefore part of a broader range of initiatives that we have in place to support British business as they navigate Brexit in a fast-changing world.”

To help customers prepare for Brexit, HSBC UK has launched a dedicated helpline for customers with Brexit-related financial concerns and setup an online resource hub which provides support and advice on the steps businesses should take to plan for the future.

The bank has had more than 15,000 conversations with customers about Brexit so far this year and has held more than 60 sessions across the country to talk to SMEs about the current economic landscape and how to plan for growth.

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Over the past 6 years, Rachel has been working specifically within the digital marketing space and has worked with some of the country’s top brands. During this time, Rachel was a key attribute to the success of our sister product, Recruitment Buzz, which has firmly established itself as one of the leading publications within the Recruitment sector. Drawing on her knowledge and experience, Rachel has developed a genuine understanding of how content can engage and compel an audience.

Having a passion for travel and culture, Rachel left her hometown of Cardiff to pursue studies and travel and after several years away, Rachel returned to Cardiff and firmly established herself within the development of Business News Wales. Rachel is now responsible for every aspect of web management, marketing and overall production of the Business News Wales brand.

Having learnt some invaluable skills within the marketing industry, Rachel is often called upon for her skills and knowledge of WordPress, HTML, email marketing software, Photoshop design and social media tools.

 

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