Economy Secretary, Ken Skates, has announced that an additional £7.5m will be made available to help Welsh Businesses build resilience in order to cope with the challenges of Brexit.
The funding will be used to help businesses explore new collaborations and innovations which will help keep jobs in Wales post-Brexit and market Wales as a great place to invest and do business. Additionally it will help Welsh Government’s own understanding of trade flows between Wales and the world.
The Brexit Resilience Grant will be accessed by businesses across Wales to help overcome the immediate challenges relating to Brexit, which include the additional administrative burdens and complexities. However, the development of confidence and skills to increase trading, both inside and outside EU, is paramount and this additional fund can be utilised for these purposes.
Cllr David Davies, Executive Member for Regeneration and Economic Development at Blaenau Gwent County Borough Council, added:
“There are so many uncertainties surrounding Brexit that this additional fund will help many businesses in Blaenau Gwent with the challenges ahead. No one really knows the impact that leaving the EU will have upon Wales, so it is reassuring to know that financial resources have been made available to help deal with the economic unknown”.