Showcasing the Best of Welsh Business

Record Investment of £21.3 Million in West Wales Businesses

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The Development Bank of Wales has released figures showing record investment in SMEs in West Wales.

Loans and equity totaling £21.3 million benefited 72 businesses across Pembrokeshire, Carmarthenshire, Swansea and Neath Port Talbot in 2018 generating £33.1 million private sector leverage across the region. This compares to £11.6 million in 2017.

Regional Manager Alun Thomas said:

“Despite the continuing uncertainty surrounding Brexit, we had a record number of enquiries during 2018 from start-ups and SME established businesses looking for loans or equity up to £5 million.

“Investment totaling £21.3 million was awarded to 72businesses proving that there is still plenty of appetite for growth in this region; in fact, that’s almost double the £11.6 million in 2017.”

Those to benefit in 2018 include Wales’ only independent oil company Oil4Wales who had a £350,000 loan to fund the development of the Nantycaws filling station. £200,000 was awarded to Dafen based DRL Partitions and £1.5 million for Britain’s first independent tyre comparison website Motokiki.

Alun Thomas continued:

“Access to finance  makes a big difference to growth and sustainability which is why we continue to work hard to help local businesses to thrive. From the purchase of stock and new equipment, new premises, management buy-outs or acquisitions, owner managers want a commercial approach to investment that is tailored to meet their needs. The breadth of funding that we can provide ranges from micro loans of £1,000 to equity of up to £5 million; there really is something for everyone.

“Simple and quick decision making processes coupled with our presence on the ground has certainly helped to boost the level of enquiries with business owners telling us that they value our face to face approach. From entrepreneurs seeing funding for start-ups to established businesses looking to take the next step, we are keen to make sure that 2019 is another bumper year.”

The Development Bank of Wales has a team of eight based in Dafen, Llanelli. This includes newly appointed Clare Sullivan who has joined from HSBC as an Investment Executive.

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The Development Bank of Wales exists to help businesses in Wales start up, strengthen and grow, by getting them the capital they need across a range of routes.

As a unique resource in Wales, we offer flexible finance to all businesses at all stages, with funds available from £1,000 to £10million.

Our teams of friendly and dedicated staff all across Wales are on hand to provide guidance on the right investment and support for your business, and can provide the local insight which we know business owners value.

We’re one of the top five institutional venture capital investors in the UK by volume, with more than £100m invested in tech businesses.

We also work alongside partner organisations like Business Wales, and offers co-investment alongside banks, crowd funders, grants, private and corporate investors and other lenders.

And we’re committed to helping Welsh businesses improve their sustainability and achieving net-zero goals, helping them to transition to Wales’ green business future.

For more information, visit the Development Bank website at www.developmentbank.wales to find out more.

 

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