The appetite amongst Welsh small firms to raise external finance to support growth has fallen sharply in the face of wider economic challenges, shows new research from the British Business Bank.
The Small Business Finance Markets report from the economic development bank of the UK Government shows that in the third quarter Q3 of 2022 only 33% of UK small businesses were using external finance compared to 44% in the previously year. In Wales it declined from 48% a year earlier to just 28%.
In terms of equity deals for the first three quarters of last year the number in Wales over same period in 2021 was up by 4% to 51. However, the value of investment was down by 4% to £68m. Wales accounted for 3% of UK equity deals (by volume) and only 0.5% on total value.
