Wales’ success depends on the success of home grown businesses, according to Plaid Cymru AM Chris Franks.
The South Wales Central AM asked First Minister Carwyn Jones what discussions he had to ensure Welsh businesses received funds to develop new ideas and expand and create sustainable jobs in all parts of Wales.
He also asked for a statement on the creation of a venture capital fund to help Welsh businesses.
Chris Franks said: “Plaid is committed to strengthening the Welsh economy. We need to foster local companies. Also we need to offer more further education courses. Currently, there are waiting lists for some courses such as engineering.”
Responding, the First Minister said that Finance Wales had invested £151m to date in early-stage and start business and it had levered a further £350m of private sector investment into those businesses.
“The next challenge for us is to develop areas where capital might be raised outside of Finance Wales; whether that is the development of some kind of bank, not perhaps directly, but working with an existing financial institution, looking at the development of local bond markets, or ensuring that our companies also look at flotation as a way of securing capital for the future.”
