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Over 350 local businesses benefit from funding scheme boost

Business, News | | Published: 13:00, Friday January 6th, 2017.

More than 5,600 businesses have been launched by jobseekers across Wales in the past five years with the support of a scheme designed to boost innovation.

New ventures have been launched through the New Enterprise Allowance (NEA) across a wide range of industries and sectors, including manufacturing, design, fashion and leisure.

Jobseekers who want to start their own firm can access government funding and on-going expertise from dedicated mentors through the scheme.

In Caerphilly County Borough, 370 businesses have been launched.

UK Employment Minister Damian Hinds said: “This year [2016] will be remembered as one in which so many employment records were made.

“Not only did the number of people in work hit an all-time high, but this extended right the way across the board with more women, ethnic minorities, older workers and people with a disability in work than ever before.

“Hard-working people in Wales who run their own firms have played their part in this success story and I’m delighted that the New Enterprise Allowance is continuing to support those who have the get-up-and-go to launch their own business.”

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