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News

Cardiff leading the way in government-led enterprise scheme
by

Thousands of small businesses have been set up in Wales since the start of a government-led enterprise scheme, with Cardiff leading the way.

Figures show 580 businesses have been established in the Welsh capital, with 4320 set up across Wales, since the government’s New Enterprise Scheme (NEA) was launched in April 2011, according to the Department of Work and Pensions.

Secretary of State for Wales, Stephen Crabb, said: “From antiques shop owners to coastal café entrepreneurs, thousands of people in Wales are now achieving their dreams of becoming their own boss with the support of the New Enterprise Allowance.”

The NEA provides help and guidance to support people, such as benefit claimants, to develop their ideas for a business and write a business plan. If plans are approved they are eligible for financial support.

The scheme has created close to 77,000 businesses in the UK to date. While these businesses were established utilising assistance from the government, other support is available to aid the growth of SMEs. Understanding where to find and access this additional help is important for small businesses to develop.

Business Doctor for Cardiff, Graham Morgan, said: “At this time of year many business proprietors will be considering how they can scale their business and meet the aspirations they have for the year ahead. Finding the right independent support is critical in making sure a robust plan is in place which embraces all aspects of business ambition.” To learn more about how a Business Doctor could help you find additional funding and grow your business, get in touch.