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Making the right long-term choice

Welsh businesses are finding finance easier to access and more readily available, according to the FSB’s latest quarterly Voice of Small Business survey published last week.  Whilst overall economic conditions remain challenging, I hope the confidence of Welsh SMEs continues to grow and more businesses will be encouraged to think about their longer-term growth aspirations. 

Newer funding options such as crowd funding and peer-to-peer lending, as well as more traditional funding sources such as bank lending and angel investment, will have all played their part.  The broader range of funds Finance Wales now manages is also an attractive option and means that Finance Wales can support more Welsh SMEs than ever before.

While greater availability of capital from a wider range of sources is good news for Welsh SMEs, selecting the most suitable funder to back long-term growth plans requires careful consideration.

Finance Wales has been backing Welsh SMEs for over twelve years and we’re currently investing in more Welsh SMEs than ever before.  I hope the business breakfasts we’re hosting across Wales over the next two weeks will help Welsh SMEs and their advisers to understand our comprehensive range of funds and how we can tailor our investments to best suit investee businesses’ needs.

The right funding package is only one part of the story when you’re building a strong business.  Understanding your products, key markets and what your competitors are up to is crucial, but so are issues such as putting the right management structures and appropriate governance in place.  These will also significantly impact future success as a business grows.

Finance Wales’ business breakfasts will give us an opportunity to understand businesses’ specific funding requirements and discuss how we can align our investments with their plans.  We’ll also be able to explain how, as a long-term backer, Welsh SMEs can benefit from our expertise and networks as they build their business.