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New 4 million pound funding for Welsh social businesses

A new £4 million funding stream for businesses in Wales has launched.

The Social Business Growth Fund will offer packages of up to £150,000 to Welsh social enterprises. It is backed by £2.3m of EU funds.

Managed by the Wales Council for Voluntary Action (WCVA), it will support the growth of Welsh social businesses and help develop new products, services and markets.

Around 45 social enterprises across Wales are expected to benefit from the fund over the next three years. The investment in the Social Business Growth Fund follows the launch of the £136m Wales Business Fund, backed by £76m of EU cash. It will offer loans and equity investments of £50,000 to £2million to Welsh SMEs.

Graham L Morgan, Business Doctor for Cardiff, said: "The Social Business Growth Fund offers a great opportunity for a number of growing social enterprises across Wales. Business Doctors understands the unique challenges faced by social businesses as they grow and develop and is well placed to support them in their journey"

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