From equity finance for start-ups and growing businesses to funding packages for those recovering from the economic impact of Covid-19, is funding businesses right across Swansea Bay.
Led by fund manager Nick Stork, the investment team in Llanelli is seeing record demand from businesses of all sizes as forecasts from both the Bank of England and the CBI predict that the 海角视频 economy will bounce back to pre-Covid-19 levels later this year.
Another event in 2021 is the , at which Development Bank of Wales is sponsoring the Start-up Business of the Year category.
Business confidence is growing
“Encouragingly there really is a strong demand for funding at the moment to help businesses grow," said Nick. "From loans for business start-ups to equity finance that helps fund succession planning and management buy-outs, there is definitely a sense of optimism and confidence right across the region."
The Wales Tourism Investment Fund (WTIF) brings together both commercial and grant funding into one combined package of financial support to provide capital investment for the tourism sector. The £50m fund is financed by the Welsh Government and managed on its behalf by the Development Bank of Wales.
“Unsurprisingly, the tourism sector has suffered greatly during the pandemic, so it is pleasing to now see applications beginning to come back through as businesses re-open, trade and start to look at plans for a better future," he said.
"The £50m Wales Tourism Investment Fund offers loans from £100,000 to £5m with repayment terms of 10 to 15 years for distinctive, stand-out tourism projects like the new boutique hotel at Oyster Wharf, Mumbles.”
“We’re also seeing lots of interest from the residential and mixed-use property development sector and are actively looking to support more small and medium-sized developers of speculative commercial development schemes.”
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Development Bank of Wales is sponsoring the Start-up Business of the Year category
The Swansea Bay Business Awards take place at the city's Brangwyn Hall on October 21, with the Start-up Business of the Year category being sponsored by Development Bank of Wales.
Fund manager Nick Stork said: “The Swansea Bay region has so many great businesses with plenty of ambition and our investment is at the heart of many of the region’s success stories. Indeed, our local team is providing flexible business finance for both start-ups and established businesses.
"That’s why we are so pleased to sponsor these awards and recognise the entrepreneurship, innovation and dedication of local start-ups. We’re here to help so please do get in touch if you would like to know how our business can help finance yours.”
Dentist Dr Adam Llewellyn owns and manages three surgeries in Llandeilo, Llandovery and Carmarthen under the umbrella of Old Oak Dental Practice. He received a £1.2m loan from the Development Bank to purchase and fit out a purpose-built six-chair dental practice at Parc Pensarn, Carmarthen.
Adam said: “The new surgery allows for more dentists to work safely together, as well as providing ample parking for both staff and patients. I’m delighted by the support I’ve received from the Development Bank. The process has been smooth despite operating during a global pandemic.”
Likeafish Swim School is also based at Parc Pensarn. It is run by managing director Russell Sparks and he is hoping to help even more children learn to swim in west Wales now that he has his own pool, having received a £400,000 loan from the Development Bank. Likeafish was also supported by Lloyds Bank through a commercial mortgage.
Both companies also received grant funding from Carmarthenshire Council to help with overall project costs.
Still time to get your nominations in for the Swansea Bay Business Awards 2021
They take place at the Brangwyn Hall on Thursday, October 21, and will highlight the brilliant, innovative work throughout , , and .
In all, 16 awards will be handed out, covering a host of areas of business. Maybe yours would be a good fit for one of the categories or you may want to nominate someone for an individual award.
Don’t miss
You can before the deadline of Monday, August 2.
For more information, including how to get tickets, visit the .