More than 8,000 new businesses have been created across Wales including Gwent and £655m worth of contracts have been won by industry through the delivery of the EU Structural Funds programmes in Wales, according to Finance Minister Jane Hutt .

A further 13,000 businesses have been supported in their ventures through the current programmes 2007-2013.

Speaking at a business breakfast event in Cardiff the Minister urged businesses to maximise the many opportunities and benefits available from the new EU funding round 2014-2020.

She said: “Through our EU funding investment priorities and delivery arrangements, businesses in Wales are benefiting from EU funds in many ways, which in turn are helping to increase business competitiveness, innovation and growth. These benefits also clearly demonstrate the importance of the UK’s membership of the EU to Wales’ economic prosperity.

“Looking ahead to the new EU funds, businesses will again benefit from a range of support that will help them establish new ventures and build workforce skills. There are also significant opportunities for businesses through other EU funding programmes, such as Horizon 2020, the research and innovation fund worth €79bn across EU regions – all of these will help us drive economic growth and increase jobs across Wales.”

The event also provided an opportunity to hear directly from businesses about the positive difference EU funds have made to their organisations and workforce – in the areas of business finance, workforce skills, and energy efficiency.