One of Wales’ longest-established business support organisations is celebrating 30 years of helping develop new businesses in south Wales.
The Centre for Business is a non-profit making organisation that runs business start-up services on behalf of the Welsh Government.
Over the last 30 years it has helped to create more than 10,000 new businesses and assisted around 25,000 entrepreneurs in south Wales.
Around 83% of new start-ups assisted by the Centre for Business are still operating after three years compared to the national average of just 35%, and since 2005 it has seen a 600% increase in attendance at its business skill seminars.
Its clients range from fashion students straight out of university, seasoned software developers branching out on their own, and even a former musician who has created a business restoring and selling vintage drums.
David Russ, managing director of the Centre for Business, explains: “The Centre for Business was set up to provide support, advice and guidance for budding entrepreneurs and existing business owners, who have strong ideas but may lack the knowledge and experience to drive them forward.
“Having worked for the last 30 years within the south Wales business community, we have accumulated unparalleled local knowledge and extensive links with both local and national partners.
“As such, we can advise any business, of any size and from any sector, and by linking our clients up with their own advisor, we are able to get right to the heart of their ideas and understand the best way to take their business forward.
“The last three decades have seen us go from strength-to-strength and our figures, which show a success rate far higher than the national average, speak for themselves.”
The majority of services on offer are part or fully funded by the Welsh Government.
Mr Russ said: “It is now more important than ever to create an environment that supports and cultivates entrepreneurs and develops homegrown businesses.
“For too long the fate of Welsh workers has been decided outside of Wales and, if we are to turn the economy around and generate sustainable jobs, we must start by looking inwardly at the considerable talent available to us.”
Newport-based Tiny Tots Premier Childcare Services is just one business that has been helped along the way by the Centre for Business.
When directors Nicola Williams and Clare Sawkins first got in touch with the Centre for Business in 1997 they had already established their first nursery but needed additional financial advice to take the business forward. They were assigned their own advisor who worked with them to consider their business options.
With the support of the Centre for Business, Ms Williams and Ms Sawkins were able to set up their second nursery in 1999 and continued developing their nursery business. In 2001, they won a competitive tender to provide childcare services for Newport University.
Ms Williams said: “The help and support we have received from our advisor at the Centre for Business over the years has been invaluable. We have gone from one nursery with just a few employees, to operating three different sites and 40 members of staff.
“Having a personal relationship with our own business advisor, who was able to advise us on everything from cash flow forecasting and raising the finance to purchase additional premises to preparing contract tenders, was crucial to this success. In fact, we developed such a close relationship with our advisor that he even acted as Father Christmas for a number of years at our Christmas parties!
“Even today, we know that we can call on the Centre for Business for support and I would advise anyone who has a business idea they want to make into a reality to get in touch.”