Will the Cabinet Secretary make a statement on the FSB's findings in its 2017 report "Reformed Business Funding" that 67 per cent of UK small businesses find out about possible EU funding opportunities through personal networks or through previously applying for these funds?
I have noted the FSB's UK wide report on Reformed Business Funding for those recommendations applicable to Wales and asked officials and the Business Wales Board to consider the issues identified and make recommendations for my consideration. I also understand the European Structural and Investment Funds Programme Monitoring Committee 2014-2020 will be considering the findings and recommendations.
We have adopted a strategic approach to support businesses in Wales where businesses benefit mainly from EU funds indirectly through tailored and easier to access schemes led by the Welsh Government, other public and Higher Education, including, for example, Business Wales, the Wales Business Fund, SMART Cymru, Innovation, and Expertise, and Superfast Broadband.
Business Wales was launched in January 2013 and refreshed in January 2016 to make it easier for Welsh businesses and aspiring entrepreneurs to access the information, advice and support they require to start and grow their businesses. Business Wales offers a single point of contact for businesses, social enterprises and entrepreneurs to benefit from advice and support, through the service, wider public, third and private sector.
In Wales, the European Structural Fund Programmes 2014–2020 has a target to support around 48,000 businesses. Our project investments and their forecasts show that we are on track to achieve this.