Mohammad Asghar AM has welcomed new figures showing £500 million has been awarded to small businesses across the country, and is urging more entrepreneurs in Newport to apply.
The new figures show that 213loans have been awarded in Newport, with firms receiving over £1,800,000 in support.
Since 2012, the Start Up Loans programme has issued nearly 65,000 loans to entrepreneurs and small businesses across the country, helping them to grow and create well-paying jobs in their local area.
As part of the Conservatives’ modern Industrial Strategy, entrepreneurs are being supporting to start up and businesses are supported to grow and reach their full potential.
We are providing over £13 billion of business rates support over coming years, as well as tackling delays in payments to small businesses to ensure that that they are paid on time.
Commenting, Mohammad Asghar said:
“It’s fantastic news that over £500 million has already been used to support smaller firms across the country, including here in Newport.
“Now I’m urging more small and start up businesses here to apply for this support, which will help them to boost their productivity and create new jobs.
“Small businesses are the backbone of our economy, and through the modern Industrial Strategy and schemes like the Start Up Loans programme, this Government is determined to support them.”