Friday, September 16, 2011
Building on success
Evidence given by Admiral's Chief Operating Officer to the Welsh Affairs select Committee yesterday that Wales should attract young businesses instead of chasing big international firms is very much in line with what businesses in my region have been telling me for some time.
Clearly, there is a need for work to be focused on attracting employment to Wales, but too often it seems that this is at the expense of supporting promising businesses already established here.
Once more, this week I have been contacted by a local firm who have been trying to get help and support from the Welsh Government for their expansion plans, but who have hit a wall of silence. It is becoming a common occurrence.
Admiral chief operating officer and executive director David Stevens pointed out that Admiral set up home in Cardiff in the early 90s around the same time as one of Wales' biggest inward investment projects to bring electronics giant LG to Newport.
He made the point that LG has since left the site, while Admiral, which received a start-up grant of £1 million, has grown from 50 staff to employ just over 4,000 people in Cardiff, Swansea and Newport:
"In my view the right strategy is finding 25 Admirals," Mr Stevens said.
Start-up companies that establish their headquarters in Wales "tend to be cheap to move and when they come they bring the whole kit and caboodle".
His argument that good infrastructure was key to the success of any economic strategy was well-made and underlines once more that the Economy and Business Minister was wrong not to give evidence to this committee.
She argues that economic development and inward investment is devolved to her and has nothing to do with MPs. In an independent Wales maybe. The fact is that the UK Government hold not just the purse strings in relation to key investment but many of the economic levers as well. If the Minister wants to create a favourable climate for growth then she needs to engage with her UK counterparts and with MPs. That is what standing up for Wales entails.
Instead we have had months of ministerial stagnation, whilst English initiatives leave us trailing behind. If the Minister does not hit the ground running when the Assembly reconvenes next week then more and more people will be asking what she is for.
Clearly, there is a need for work to be focused on attracting employment to Wales, but too often it seems that this is at the expense of supporting promising businesses already established here.
Once more, this week I have been contacted by a local firm who have been trying to get help and support from the Welsh Government for their expansion plans, but who have hit a wall of silence. It is becoming a common occurrence.
Admiral chief operating officer and executive director David Stevens pointed out that Admiral set up home in Cardiff in the early 90s around the same time as one of Wales' biggest inward investment projects to bring electronics giant LG to Newport.
He made the point that LG has since left the site, while Admiral, which received a start-up grant of £1 million, has grown from 50 staff to employ just over 4,000 people in Cardiff, Swansea and Newport:
"In my view the right strategy is finding 25 Admirals," Mr Stevens said.
Start-up companies that establish their headquarters in Wales "tend to be cheap to move and when they come they bring the whole kit and caboodle".
His argument that good infrastructure was key to the success of any economic strategy was well-made and underlines once more that the Economy and Business Minister was wrong not to give evidence to this committee.
She argues that economic development and inward investment is devolved to her and has nothing to do with MPs. In an independent Wales maybe. The fact is that the UK Government hold not just the purse strings in relation to key investment but many of the economic levers as well. If the Minister wants to create a favourable climate for growth then she needs to engage with her UK counterparts and with MPs. That is what standing up for Wales entails.
Instead we have had months of ministerial stagnation, whilst English initiatives leave us trailing behind. If the Minister does not hit the ground running when the Assembly reconvenes next week then more and more people will be asking what she is for.
Comments:
<< Home
“Evidence given by Admiral's Chief Operating Officer to the Welsh Affairs select Committee yesterday that Wales should attract young businesses instead of chasing big international firms...”
‘Smack-On’ … been saying that for years etc.
“Business comes from where business and opportunity comes”; picking winners is hard, but Government should listen to small businesses in Wales every bit as much as an outside big-fish.
The thing with businesses already or thinking of starting in Wales is that any expansion will likely mean more jobs in Wales. cw
Post a Comment
‘Smack-On’ … been saying that for years etc.
“Business comes from where business and opportunity comes”; picking winners is hard, but Government should listen to small businesses in Wales every bit as much as an outside big-fish.
The thing with businesses already or thinking of starting in Wales is that any expansion will likely mean more jobs in Wales. cw
# posted by 
: 5:00 PM
: 5:00 PM<< Home
