More than 8,000 new businesses launched by jobseekers in Wales

New figures show between April 2011 and June 2020 more than 8,000 jobseekers in Wales used support from their local Jobcentre and the New Enterprise Allowance (NEA) scheme, to launch their own business.

The top counties in Wales with the most entrepreneurs include Cardiff with 960 start-ups; Swansea with 820; and Carmarthenshire with 670.

Launched in 2011, there has been over a quarter of million NEA starts by unemployed benefit claimants which has helped turn aspirations into reality, offering participants a personal business mentor, weekly living allowance and applicants can apply for financial backing of up to £25,000 to realise the ambitions for their start-up.

Wales Office Minister David TC Davies MP said:

The UK Government is committed to backing jobseekers and business and thousands of people across Wales have launched their own companies with our support.

Small businesses are key to our economy. Encouraging entrepreneurship and creating employment are priorities for the UK Government, driving the recovery as we build back better from the pandemic.

Minister for Employment Mims Davies MP said:

This remains a challenging time for families across the country but whether people are looking for a new job or a new source of income, there is hope.

Our Jobcentre staff are there to help and can open doors to new opportunities, like the support offered through our New Enterprise Allowance. I’m calling on all the budding entrepreneurs out there to contact their work coach and discuss how to make their business idea a reality.