The government lending scheme Start Up Loans, has created an interactive guide revealing how new business funding was spent across the UK last year.
Based on official data, the interactive reveals that Start Up Loans lent £62,861,292 across 20 sectors in 2017, £3,672,190 of which was loaned to businesses across Wales.
So which sectors received the most start-up funding?
- With the exception of London, Wales was the region with the biggest investment in child day-care activities (£45,900)
- £99,140 was invested into takeaways & mobile food stands
- £90,000 was invested into restaurants.
- Wales was one of the biggest areas of investment for real estate agencies, receiving £45,000
- Wales saw a £134,650 investment into hair and beauty
- £65,000 was lent for clothes shops
- A total of £418,640 was lent to accommodation and food start-ups in Wales
All this information can be found on the interactive which you can view here: https://www.startuploans.co.uk/business-breakdown/
Cameron Bisset, Digital Content Manager for Start Up Loans, commented:
“We back thousands of start up businesses each year and we wanted to share some of the transformations with the public. The interactive showcases where money is lent, and provides a breakdown of the work we do in enhancing business communities nationwide. We have supported more than 40,000 businesses with around £250 million in funding, and the guide illustrates the work we do in making businesses a success in key industries.”
Which areas received the most funding in total and how did they compare to Wales?
- London- £11,977,161
- South East – £7,963,315
- West Midlands – £7,963,315
- North West – £6,460,348
- South West – £5,276,558
- Yorkshire and the Humber – £5,109,671
- Scotland – £4,786,646
- East of England – £4,186,056
- North East – £4,072,444
- Wales – £3,672,190
- East Midlands – £3,270,311
- Northern Ireland – £778,690