New £4m EU-backed fund to invest in Welsh social businesses
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.
Investments through the fund will involve a mix of grant funding and repayable finance, with financial incentives for social businesses that exceed job creation targets.
Around 45 social businesses across Wales are expected to benefit from the fund over the next three years.
The investment in the Social Business Growth Fund follows this week’s launch of the £136m Wales Business Fund, which has been backed by £76m of EU funds and will offer loans and equity investments of £50,000 to £2m to small and medium-sized businesses. ■