Plan to help small businesses

The Conservatives will put forward their plans to help finance small and medium sized businesses in a debate in the Senedd later.

Labour dismisses 'flimsy attack'

The findings of a Welsh Conservative business policy document are based on a snapshot survey of just 0.6% of Welsh small and medium sized businesses, a Welsh Labour AM has claimed.

The Tories' 'Invest Wales' scheme will be debated at the Senedd today but Labour say their claim that 64% of businesses are unaware of the existing Finance Wales’ is based on a Federation of Small Businesses survey of just 135 respondents out of 209,200 firms.

While Welsh Labour is happy to debate and consider the merits of any opposition policy document, the Conservatives have desperately tried to spin the findings of a snapshot survey. We fully acknowledge there is a serious issue with high street banks lending to Welsh SMEs and the Welsh Labour Government has set up a review headed by Professor Dylan Jones-Evans to look at this issue. The Conservatives need to go back to the drawing board and base their findings on facts instead of spinning surveys to make a flimsy attack on a Government doing its best to stand up for businesses across Wales.

– Clwyd South AM Ken Skates

Help for firms 'not fit for purpose'

The Conservatives will today call in the Senedd for the Welsh Government to back their scheme for a public-private 'Invest Wales', to finance small and medium sized businesses. A survey by the Federation of Small Businesses suggested 64% of firms had never heard of the existing Finance Wales.

Small and medium-sized businesses have a significant impact on the general wellbeing of our economy as they represent over 99% of all active enterprises in Wales. Welsh Conservatives have unveiled ambitious and innovative proposals – the first of their kind in the UK – to address one of the biggest problems facing small businesses – access to finance.

Our proposals for Invest Wales would see the Welsh Government work in partnership with retail banks to offer small businesses local access to finance and sound impartial business advice. There is a general consensus developing that the Welsh Government’s model, Finance Wales, is not fit-for-purpose and needs reform.

– Shadow Finance Minister Paul Davies AM