The Development Bank of Wales will run a pilot for a new programme designed to support Welsh firms to scale up. The programme, named Sbardun, will initially support 20 selected firms to realise their growth potential.
Support for high-growth firms
Sbardun was announced last week by Cabinet Secretary for Enterprise Adam Price, who said it will support a 10-year aim of helping to create 500 high-growth firms in Wales. The pilot, for which applications open in late November, is scheduled to go live next April, with the initial cohort receiving two years of tailored support.
Firms will be existing Development Bank of Wales customers, with strong growth potential, typically with annual revenues of more than £3m and employing at least 10 staff. It is not clear whether the programme will be overseen in the longer term by a new arm's-length of Welsh Government national development agency. Beyond the pilot, Sbardun cannot be limited to just Development Bank of Wales customers.
Programme details
Working closely with Business Wales and the Welsh Government, the programme is being described as "designed to help businesses access the most relevant support for their growth ambitions, including innovation, skills, trade and export services, as well as specialist sector expertise". Its remit adds: "This joined-up approach means businesses can spend less time navigating different support programmes and more time focused on growth."
Available support will also include access to an experienced independent board adviser, leadership events featuring successful entrepreneurs and industry experts, and patient capital and funding aligned to long-term growth ambitions.
Official comments
Giles Thorley, chief executive of the Development Bank of Wales, said: "We welcome the launch of Sbardun and its clear focus on helping established Welsh businesses unlock their next phase of growth.
"Finance is only one part of the growth journey. Sbardun will help us combine investment with targeted expertise and peer learning, working closely with customers to build the foundations for sustainable growth. Our focus now is on engaging eligible businesses ahead of applications opening in late November and delivery starting in April 2027."
Mr Price said: "My vision is for Wales to become a nation where more ambitious businesses are able to start, scale and stay; where growth is matched by productivity, innovation and good jobs; and where more Welsh-headquartered firms have the confidence, capability and capital to compete successfully at home and internationally.
"Over time, I want this to translate into a stronger pipeline of scaling companies: more businesses moving into higher employment and turnover bands, improved scale-up density, and a growing number of Welsh-headquartered firms. These ambitions will require further economic analysis and refinement, but setting them out now will help connect public, private and institutional effort around a shared national purpose.
"The learning from the first cohort of Sbardun businesses will inform the service's future development and wider work to strengthen Wales's economic approach aligned to the national development agency.
"Sbardun is an important step in unlocking the potential of scaling Welsh businesses, supporting productivity, better jobs and economic growth with meaningful impact for people, places and communities across Wales."
