Welsh Labour’s flagship business support scheme, the Economic Renewal Programme, has only helped 16 businesses in the first six months of this year, according to data released by the Welsh Conservatives yesterday.
This equates to less than one business a week.
According to data from Equifax, 130 businesses in Wales were forced to shut their doors in the first two months of 2011-12.
Speaking in the Assembly Chamber today, the First Minister said he was satisfied with the level of support for small businesses.
Welsh Conservatives also revealed that it is now taking almost twice as long to assess applications under the Economic Renewal programme, as under the Welsh Government’s previous business support scheme.
Andrew RT Davies AM, Leader of the Welsh Conservatives in the National Assembly, said, “It is astonishing that Welsh Labour Ministers are content with such a pitiful level of support to Welsh businesses.
“Helping less than one business a week is a feeble level of investment, which is insufficient to prevent businesses having to lay off staff or close their doors.
“At a time of such economic uncertainty, the Welsh Labour Government needs to be responding swiftly and proactively to the needs of the Welsh economy.
“Welsh Labour’s lethargic Economy Department needs to address the chronic failings, which are resulting in such slow considerations of applications for business support.
“Most small projects are currently waiting a month for assessment, while many bigger investors are waiting as long as four months, during which time a business’ economic outlook can change considerably.
“The Welsh Labour Minister needs to get a grip on her department which is holding back the Welsh economy and failing to protect the incomes of hard-pressed Welsh families.”
