GBP50m to Help Businesses in Wales Exploit Superfast Broadband

The Welsh Government has committed £50m worth of contracts to support its Business Wales scheme, which among other things will be used to help local firms exploit the growing coverage of new Superfast Broadband services (much of this is being delivered via the Superfast Cymru project).

The scheme hopes to add £215m to the economy in Wales, which it will do by boosting exports, as well as helping to create 10,000 new businesses and over 28,000 jobs. Sadly the details are a little vague, although it’s claimed that the contracts will commence in January 2016 and should help to support various aspects, such as “Youth Entrepreneurship and Superfast Broadband exploitation.”

Edwina Hart, Welsh Economy Minister, said:

“Stimulating business growth and jobs creation across Wales is a key priority for the Welsh Government and one which underpins our economic policies. EU funds are helping our already successful Business Wales service to expand and provide additional targeted support to new and existing businesses which show growth and export potential. We will continue to offer a service to all individuals and businesses appropriate to their needs.

The support available is helping to promote the economic recovery in Wales and SMEs and entrepreneurs will continue to benefit from targeted help and support from the Welsh Government.”

The new contracts are being supported by funding from both European Structural Funds and the Welsh Government, which is in addition to the previously awarded £20m Accelerated Growth elements of the service. At present over 80% of Wales should be within reach of a 24-30Mbps class “superfast” broadband connection and this will continue to rise over the next two years.