Faint o gyllid uniongyrchol y gwnaeth Llywodraeth Cymru ei ddarparu i fusnesau yn 2024 a oedd yn dibynnu ar fod y busnesau hynny'n cymryd rhan yng nghontract economaidd Llywodraeth Cymru?
Not all recipients of an Economic Contract receive direct grant support; the principles of the Economic Contract have also been applied to our suite of non-financial Business Wales support programmes, with many businesses citing the interaction and expert knowledge the advisory service provides as a key benefit.
The Economic Contract has been embedded into several Welsh Government business support programmes. Foremost has been the Economic Futures Fund (EFF), a consolidated fund of grants that includes, among others, support for creative production funding, tourism, and core support for SMEs. In the last financial year over £28 million was awarded under the EFF.
It is also utilised in the Overseas Business Development Visit programme, which in the last financial year awarded over £611,000 in support, and the Wales Tourism Investment Fund, which in the last financial year awarded £87,000 in grant support.
In early 2022, we refreshed the Economic Contract which has enabled the contract to reach new areas of business, such as the £43 million Food Business Accelerator Scheme (FBAS), which runs until March 2027. In the last financial year, over £3.1 million has been awarded under the FBAS, with the Contract being a requirement.