More than £1 billion of new finance could be available to businesses across Wales in 2026 as part of Lloyds Banking Group’s plan to make more than £35 billion of new finance available across the UK.
New research from Lloyds’ Business Barometer suggests 86% of business in Wales have a clear view of their biggest opportunities for growth. Businesses identified investing in their workforce, developing new products or services, and introducing new technology as their leading growth drivers over the next six months.
Nathan Morgan, Area Director for Wales at Lloyds, said:
“Lloyds Banking Group is proud to make £1 billion of new finance available for local firms in Wales, helping them grow their businesses, invest in innovation and create new jobs. Whether it’s supporting a small company taking its first step into exporting, or a larger firm scaling up to meet growing demand, we’re committed to helping businesses turn their potential into growth.”
Swansea-based packaging manufacturer, Viscose Closures, recently secured a £400,000 finance package from Lloyds, to purchase new printing technology, in a bid to boost production capacity, while reducing its environmental impact. The new equipment uses water-based inks and is expected to cut waste and energy use, while doubling production speed and reducing set-up waste by 87%.
Emma Blackmore, Managing Director at Viscose Closures, said:
“Purchasing the new technology was a huge milestone in the company’s journey towards sustainable growth. It’s allowed us to expand our offering as a packaging manufacturer, whilst reducing our environmental impact and cutting utility costs.”
