More than 20,000 jobs have been created since April 2015 by enterprises that have received support from the Welsh Government’s flagship Business Wales service, Economy Minister Ken Skates has revealed.
Business Wales makes it easier for Welsh micro-businesses and small and medium enterprises (SMEs) as well as aspiring entrepreneurs of all ages to access the information, advice and support they require to start and grow their businesses.
In addition to helping Welsh enterprises create more than 20,000 new jobs since April 2015, the service has handled over 60,000 enquiries, and advised over 30,000 individual entrepreneurs and firms across Wales in that period. It has also helped Welsh entrepreneurs create more than 4,000 new businesses across Wales with an impressive four year survival rate of over 80 per cent.
The Welsh Government continues to proactively support entrepreneurs at each stage of the business lifecycle from raising awareness of entrepreneurship with more than 200,000 primary school pupils right across Wales through to idea generation, start-up and on to sustainable growth.
In November, the Economy Minister announced proposals to build on Business Wales’ success to ensure its high quality is maintained and developed so even more firms and entrepreneurs can benefit from the service.
This includes how the service can prepare businesses for what the economy will look like after Brexit.
Business Wales also has an increasingly important role in supporting firms to rise to the challenges set out in the Welsh Government’s Economic Action Plan of preparing for digital developments, improving productivity, increasing the incidence of fair work, decarbonising and promoting inclusive growth.
Ken Skates said:
As we enter the New Year, it’s fabulous news and a great achievement that our flagship Business Wales service has supported the creation of more than 20,000 jobs since April 2015.
That’s 20,000 people given an opportunity to work, earn a wage, make a living and help drive a productive Welsh economy. I am delighted we, as a Welsh Government, have played our part in helping Welsh entrepreneurs and SMEs to make that happen.
Although 92 per cent of Business Wales customers say they would recommend the service to a friend, we’re certainly not resting on our laurels and I’m already looking at ways Business Wales can directly support more firms and entrepreneurs over the coming years.
Small and medium sized businesses are the backbone of the Welsh economy and vital to our economic outlook and the way communities throughout Wales operate from day to day.
We will continue to support our SMEs and be on hand to provide the high quality information, advice and guidance they need to thrive.
