WITH the new City Deal being signed in Cardiff today, a new board is to be created to oversee the Business Wales programme.
The programme aims to support the creation of 10,000 businesses and 28,300 jobs over the next five years.
Welsh Government and the European Union (EU) fund the Business Wales service, which was launched in January.
The new strategic board that has been created will now oversee the £50 million service.
Economy minister Edwina Hart said: “Between January 2013, when Business Wales was first launched, and December 2015 it has helped create 13,249 jobs, safeguarded a further 3,387, and created more than 9,605 new businesses in Wales.”
The impact of the announcement for the new City Deal today, means 25,000 jobs over the next 20 years.
“These new businesses and jobs are making a significant impact on the community and the economy,” said Ms Hart.
The programme has been enhanced since its creation and now covers youth entrepreneurship, superfast broadband exploitation, start-up and Small or Medium Enterprise (SME) support.
Robert Lloyd Griffiths, director of Wales’s Industry of Directors, has been named chairman.
Other board members are:
- Andrea Callanan, founder and director of InspireMe
- Professor Paul Hannon, director of LEAD Wales and Institute for Entrepreneurial Leadership at Swansea University
- Dan Langford, group marketing and communications director at Acorn
- Martin Warren, director for Wales at the Institute of Chartered Accountants
Alwen Williams, director of BT Wales; Kelly Davies, managing director at Vi-Ability and Ben Cottam, head of external affairs at FSB Wales are co-opted members.
Ms Hart added: “The extended Business Wales service will support even more business start-ups and enterprises with enhanced support for those looking to employ staff and with growth potential.
“The new board, which has a wealth of experience and expertise, will play a key role in ensuring these targets are met.”