Brexit impact funding announced
AN ADDITIONAL £7.5m in funding to support Welsh businesses cope with the impact of Brexit has been announced Economy Secretary Ken Skates.
The money which is part of the Welsh Government’s £50m EU Transition Fund, will be used over the next three years to help companies win orders globally.
Part of the funding will be invested in strengthening the Welsh Government’s export support services. It will also be used to ensure businesses have access to exporting intelligence and technical information they need to successfully develop new export opportunities.
It will also directed into a Brexit Resilience Grant which businesses from across Wales will be able to bid for a share of.
Speaking ahead of an FSB Business Breakfast where he will formally announce the funding, today Economy Secretary Ken Skates said: “It is now just a matter of months until the UK leaves the EU but unfortunately the UK Government’s approach to Brexit means businesses in Wales are still left with many unanswered questions about what the future holds.
“As Economy Secretary my focus remains very much on delivering our Economic Action Plan, which has been designed to help us future proof our economy, and maintaining an honest, direct and ongoing dialogue with the business sector so we can work together to prepare for the challenges ahead.
“Last month, we launched our Business Wales Brexit Portal which was developed with support from FSB.
“The portal provides companies in Wales with up-to-date information and advice on a range of crucial issues and helps them to assess their Brexit readiness though a bespoke diagnostic tool. I have been delighted by the incredibly positive feedback from businesses right across Wales on its value.
“Today I am delighted to announce an additional £7.5m to support business in Wales to build the sort of resilience that Brexit will require.”