The Welsh Government is to develop a business strategy to support the growth and sustainability of the 190,000 plus micro enterprises in Wales.
Business Minister Edwina Hart announced today she has appointed a task and finish group to provide strategic guidance on the development of a Micro-Business Strategy for Wales. All members have extensive knowledge and experience of small businesses, with a number running their own companies.
The group, chaired by Robert Lloyd Griffiths, Director-Wales Institute of Directors, will review the current support available for micro-businesses and identify cost effective options for Government support.
Micro enterprises – businesses that employ nine or fewer people – account for 94.3 per cent of all enterprises active in Wales. In 2010, the 190,200 micro-businesses in Wales employed 332,400 people, accounting for 32.7 per cent of private sector employment and 15.8 per cent of turnover.
They increased employment by 16.5 per cent between 2003 and 2010, compared with the 10.5% general increase in total private sector employment over the same period.
The Minister said that micro enterprises play an important role in the economy of Wales in both urban and rural areas, creating a diverse range of jobs, across all sectors and services.
“These are impressive figures and in order to provide the support necessary to assist growth and sustainability we have to understand the needs and requirements of these enterprises and how we can help create the conditions for growth.
“The Task and Finish group will hear and gather evidence from key individuals and organisations to ensure a wide range of views are taken on board when developing the strategy.
“Robert Lloyd Griffiths brings a wealth of experience to the task and I am delighted he has agreed to Chair this key Group. “
Members of the Micro-Business Task and Finish Group have extensive business knowledge and experience, many run their own businesses. The Group starts work this month with the aim of preparing a draft report before the end of December.
Task and Finish Group Membership
Chair, Robert Lloyd Griffiths, Director-Wales Institute of Directors
Sue Balsom, Francis Balsom Associates
Jacquie Williams, SCS Aftercare
Janet Jones, Federation of Small Business
Robert Chapman, Robert Chapman and Company
Peter Denton, Williams Denton Cyf
Allan Lloyd, Treasure, Mumbles
David Russ, South Wales Chamber of Commerce