A SOUTH WALES business support company has ceased trading.

It was confirmed yesterday that Entrepreneur Action will now put itself into liquidation.

The company yesterday informed its creditors of the decision.

The Cardiff organisation had established strong ties with the former Welsh Development Agency and latterly the Welsh Assembly Government in delivering business support programmes across Wales.

In an e-mail statement from the company’s managing director Deborah Hackett, she said, “The directors of Entrepreneur Action and Entrepreneur Action High Growth Services have taken the decision to cease to trade and are taking steps to place both of the companies into liquidation.”

The company had delivered the Assembly Government’s high growth business support programme, which was funded by the European Union.

The programme provided fast-track support to new companies which have the potential to achieve a £1m-plus turnover within three years.

Companies were promised up to £40,000 of business support over a three-year period, provided by associates which included chartered accountants and lawyers.

Those on the programme paid Entrepreneur Action a £5,000 joining fee.

Although the programme was no longer being marketed, it is unclear how many companies still have support promised for the next few years.

A spokesman for the Welsh Assembly Government said last night, “In light of the decision taken today by the boards of Entrepreneur Action to place Entrepreneur Action and its associated company Entrepreneur Action High Growth Services into voluntary liquidation, the Welsh Assembly Government has, in accordance with the provisions of contracts it has in place with the companies, given notice to terminate the contracts with immediate effect.

“EA and EAHGS are independent limited companies which are not legally connected to the Welsh Assembly Government. EA and EAHGS have delivered services under contract with the Welsh Assembly Government.

“Our priority now is to explore options for identifying potential replacement service providers for both programmes.”



See Original Article

If your business is under threat from Liquidation or a Winding Up Petition then we can help save it. Call us now for more information.

Call us on: 0800 071 1616

Email us on: info@debtsgone.co.uk

Website: www.debtsgone.co.uk