The Blackwood-based firm was awarded the funding through the WAG’s Skills Growth Wales initiative and will offer additional employment in the near future as a result.

According to Coxon, the funding will enable the company to broaden the range of services it offers to the large number of smaller publishers among its clients.

He said: "We are in an evolving marketplace and as a business, serve a large number of smaller entrepreneurial publishers. This funding will allow us to help them add value to the services they offer customers such as editions through the Apple iPad.

"By doing this, we are training our staff with new skills while helping customers ensure that they do not miss out on advertising opportunities afforded to them by applications other than print."

Coxon added that support from WAG had been excellent throughout.

Pensord has also taken on three apprentices, and enrolled nine existing members of staff onto its NVQ programme, although this is not connected with the funding award.

Thomas Dunn, Marc Whittaker and Jacob Jones all join Pensord, performing various functions throughout the business.

"It’s great to get a chance like this and I intend to take it with both hands. Already I feel like one of the team," said Jones.

According to Coxon, it was important to give opportunities to the young people of the area.

"We have a part to play and it was an important opportunity for the business with succession of the company in mind," he added.