When you think of financial services, the first place you’d expect a new business in this area to set up shop would be London. But one new online lender has chosen Wrexham for its base, and the co-founder told the BBC why North Wales was their first choice.
Andy Mielczarek co-founded Chetwood Financial in 2017. The business, which trades as LiveLend, took office space on Wrexham Technology Park. He told the news provider that he hopes to double or even triple the workforce over the coming years.
He also revealed why Wrexham was the first choice for the business. “We’re the only person doing anything like this here,” he explained. “There’s a great pool of local talent, and it’s easier, weirdly, for us to find the right kind of people working for us here, than say if we were in London,” Mr Mielczarek added.
It’s the lack of similar businesses in the area that gives his company the advantage, he noted, pointing out that in London the market is saturated.
Chetwood Financial is waiting for confirmation that it’s been granted a banking licence to offer savings accounts at present.
Mr Mielczarek said that, although there are “half a dozen experts” on his staff who commute up to Wrexham each week, the rest of the 50-strong workforce live within an hour of the town.
Wrexham is doing a lot to attract new businesses to the area. Earlier this year an Enterprise Hub was opened in the town, which was set up to help new businesses source finance for their ventures.
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