The Federation of Small Businesses (FSB) Wales has today launched its manifesto ahead of the May 2026 Senedd election, calling for a New Deal for Business to put small and medium-sized enterprises (SMEs) at the heart of Welsh Government policy.
FSB Wales is the authoritative voice of businesses across Wales, advocating for a better social, political, and economic environment. With a strong grassroots structure, a Members Advisory Council and a dedicated team based throughout Wales, FSB Wales ensures its members’ voices are heard at the heart of decision-making and beyond.
The manifesto emphasises the passion of Welsh business owners, with 65% citing passion as their main reason for running a business and calls on all political parties to commit to making the 2026-2031 Senedd term the “Small Business Term”.
Referred to as “a manifesto for small business by small business”, the document outlines practical, evidence-based proposals drawn from extensive engagement with thousands of Welsh businesses, including feedback from FSB Wales’ Big Small Business Survey at the end of 2025.
The manifesto highlights the critical role of SMEs, which make up over 99% of Wales’ 200,000 active businesses and drive local jobs, innovation, and community sustainability. It addresses pressing challenges such as rising costs, regulatory burdens, skills shortages, and declining high street viability, at a time of low business confidence and economic pressures.
Central to the manifesto are five distinct pillars, each focusing on key priorities to empower SMEs:
- Small Business at the Heart of Government – Proposing an Economic Development (Wales) Bill, a new economic strategy and a dedicated economic development agency to embed SME needs in all decision-making.
- Reducing the Cost of Doing Business – Urging comprehensive business rates reform, mandating 30-day payment terms in public contracts, a 25% cut in regulatory compliance costs and enhanced digital support for SMEs.
- Vibrant Places – Calling for a retail, hospitality, and leisure multiplier for business rates, increased funding for town centre regeneration, tackling anti-social behaviour and a new Planning Act to revitalise high streets.
- Real World Productivity – Advocating a step change in infrastructure investment, support for access to finance, a Minister for Digitalisation and a Net Zero Business Wales scheme to boost efficiency and sustainability.
- Successful People – Pushing for a start-up strategy, increased apprenticeship funding, leadership development and an employment incentive to address skills mismatches and build resilient workforces.
FSB Wales Chair, John Hurst, said:
“This is a manifesto for small business by small business. We must put small business at the very heart of the next Welsh Government, rejuvenate our high streets, enable businesses to thrive, reduce costs and support the wider workforce. From an innovative Economic Development Bill for small business growth to targeted rates relief and making sure businesses can get the skills they need, our proposals will empower SMEs to overcome barriers and thrive. As we approach the 2026 Senedd election, we urge all political parties to adopt these measures to unlock Wales’ entrepreneurial potential for resilient communities and a prosperous future.”
Head of FSB Wales, Joshua Miles, added:
“SMEs, the backbone of our Welsh economy, are battling soaring costs, regulatory burdens and skills gaps that threaten growth and survival. The next Welsh Government must prioritise SMEs to secure vibrant, sustainable businesses and communities now and for generations to come. Our members across Wales have created this manifesto and it is a direct reflection of their current situation and challenges and also highlights what is needed for them to continue to support the communities in which they operate and the wider Welsh economy.”
