HH Cashflow Finance awarded Welsh government grant to boost jobs
Independent lender HH Cashflow Finance Ltd has been awarded £270,000 by the Welsh government to stimulate jobs and training over the next five years.
The development grant is designed to boost job creation at the Newport-based business and attract and train new talent into the finance industry in South Wales.
HH Cashflow, the only Wales-based invoice financier, plans to expand its workforce from ten employees to 57. A skills shortage has been identified which prompted the grant application.
Bristol had been consideration as a potential new location but the business support grant from the Welsh Government has secured the investment for Wales.
Commenting on the grant, Richard Pepler, chief executive of HH Cashflow, said: “We’re committed to remaining in South Wales and in order to ensure our continued growth and expansion we need to attract people into the business who may not have previous experience.
“This grant will enable us to put a long-term plan in place to create new job roles. We will focus on raising awareness of the great opportunities that exist in this sector, which is now lending more to businesses than banks do on overdraft. We’re looking to proactively seek out people who want to carve out a successful career in this fast growth sector.
Economy minister Edwina Hart said:" Financial and professional services are a key economic sector in Wales and also one of our fastest growing sectors so I am pleased that HH Cashflow will continue to grow and create jobs in Wales."