Tata subsidiary UK Steel Enterprise has passed the 75,000 jobs milestone, and has a proud record of helping companies in Gwent.

Established 40 years ago to support steel communities, UK Steel Enterprise has played an important role in helping to remodel the Welsh and UK economies, mainly by investing in SME businesses.

In Wales, UK Steel Enterprise has helped create 24,922 jobs, investing £23,242,000 in 1,383 local companies, many of them in the Gwent area.

Area manager Andy Morris said:”We are very proud of our record in the last 40 years. Our support has been targeted at companies with potential to grow, and most importantly, create lasting jobs in our communities.”

UK Steel Enterprise has built up nearly 40 years of expertise in working with start-up and expanding businesses providing tailored finance packages, managed business premises, advice and support. It was set up in 1975 as British Steel (Industry) Ltd to help the regeneration of areas affected by changes in the steel industry.

“The figure of 75,000 jobs is a significant milestone for us,” said Andy Morris.“It shows what a valuable role small and medium sized enterprises play in job creation and in building a strong economy. The number of new jobs a business expects to create is one of the important considerations when we evaluate business projects.

Nationally, more than 6,000 companies have now benefited from UK Steel Enterprise support with £80m of true risk capital being made available. A further £33m has been invested in workspace and £8m allocated to support community projects.

“UKSE has been supporting businesses for decades, and obviously that has included some difficult economic times,” said Andy Morris.

“We have seen many different agencies and schemes come and go, whilst we have continued to provide the kind of finance - from small unsecured loans to loan and equity packages of up to £750,000 - that companies can find hard to obtain elsewhere.

UK Steel Enterprise also offers advice and support, often maintaining a close working relationship with clients. As well as this, the organisation provides quality accommodation with flexible terms that don’t restrict young companies.

“Primarily we are a regeneration body so that gives us more flexibility and many of the companies we help bring jobs and other benefits to some of the most disadvantaged areas of the UK.

“We are always aware of the need to adapt in order to meet the changing needs of businesses and, thanks to Tata Steel continuing to demonstrate its commitment to steel areas, we are looking forward to helping many more in the future.”