The fast track grant fund for investments was set up by the Welsh government to provide short-term assistance to businesses in Wales in response to the current global economic crisis. As the scheme came into effect Ms Hart said any offers would be time limited to ensure grants were taken up and used before the end of 2012, so businesses needed to "move swiftly". A source from Venom Advertising has said “It is fantastic to see the Government responding to the needs of small businesses."
The fund was launched at the same time as the £40m Wales SME Investment Fund - a dual package to help businesses of all sizes and in all sectors across all areas of Wales.The Welsh government said the two schemes had the potential to create up to 5,000 new jobs and safeguard other jobs. Grants are not repayable and it is anticipated the Wales Economic Growth Fund will assist more than 100 businesses.
Venom Advertising is a driven and determined sales and marketing company in Cardiff. With an exciting and successful 2011, expansion being one of the company’s main goals for 2012.
Mike Learmond from the Federation of Small Businesses in Wales, said it was pleased that the money had been put into place. Mr Learmond said some businesses would be very busy over the Christmas period, working at full tilt and coping with temporary staff. "So purely in terms of the timescale that we've got is a concern. It's just not giving them enough time to get completed application forms. I'd just like to see the deadline extended a little bit longer to give businesses time to get an application in." The Managing Director of Venom Advertising, agrees with Mr Learmond, saying “I agree the timescale is just too short – however with the prospect of safeguarding jobs and creating up to 5,000 new jobs, this scheme is one foot in the right direction for the economy of Wales.”
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