By Daniel Hunter

The number of people receiving Start-up loans in Wales increased by 30% over the past year, government figures show.

712 entrepreneurs in Wales have received almost £4.5 million worth of Start-up Loans - 89 of these people are in Cardiff and received £616,959. These entrepreneurs have launched their businesses and are contributing to the growth of the Welsh economy and the increased numbers of jobs in Wales.

The Start-up Loans Company provides ambitious entrepreneurs across the UK with invaluable support in the form of repayable loans and a business mentor. These help to get new, innovative companies off the ground; and provide the entrepreneur with the expertise to ensure their companies are successful.

Secretary of State for Wales Stephen Crabb said:
"This is fantastic news for the Welsh economy. Across the length and breadth of Wales, we are helping young people turn ambition and innovation into thriving businesses.

"Since 2010, we have seen 26,000 new businesses in Wales. Schemes such as Start up Loans provide budding entrepreneurs across Wales with the tools they need to turn their ideas into living, breathing businesses.

"Our long term economic plan is all about supporting small businesses, backing aspiration and encouraging more young people to follow their dreams. I am thrilled to see this happening all across Wales and hope more young people apply to the scheme and get the chance to start their own businesses."

Join us on
Follow @freshbusiness