Welsh SMEs to get reduced rates for development loans

Welsh SMEs located in the seven Welsh enterprise zones will get a two per cent reduction in interest charged on new loans from Finance Wales, thus helping them invest in further development, a news report in the local business media has revealed.

Janet Jones, Welsh policy unit chairman at the Federation of Small Businesses, commented on this announcement : "The announcement of a 2 per cent cut in rates from Finance Wales for businesses in Welsh enterprise zones is welcome, but rather perplexing.

"In the light of this announcement we would call for Finance Wales to re-examine its rates as it appears that state aid rules do not require rates to be as high as they are at present. If Finance Wales is to play a proper role in supporting economic growth and creating jobs, then firms in all parts of Wales need to be offered more competitive rates, not just those in enterprise zones."

Finance Wales offers business loans, and equity and mezzanine investments ranging from £1,000 to £2m to smaller enterprises. By being able to obtain more affordable loans, smaller companies are more likely to invest in various solutions designed to improve their business efficiency, and this is specifically where Time & Attendance – Wales could lend a helping hand.

Our advanced smart card time and attendance system includes European Working Time Directive checking and reporting, ensuring that your company remains compliant with both regional and national legislation.

Furthermore, the system also offers a series of additional features employers would certainly find handy, such as Weekly Clock Card, Payroll Summary, Absence Summary, Fire Roll Call or Shift Swapping.

If you want to find out more about the advanced product portfolio provided by Time & Attendance – Wales, just contact us, and we’ll be sure to answer any questions you might have.