FSB Wales recently hosted a roundtable event in Cardiff, focusing on barriers to growth and overcoming these barriers.
The event built on FSB Wales’ report Wales’ Missing Middle, which highlighted that while firms employing fewer than 10 people accounted for around 35% of private sector employment in Wales, and multinationals accounted for around 38% of private sector employment, medium-sized firms employ between 50 and 250 people, made up just 12% of private sector employment. Helping populate this Missing Middle would bring significant economic benefit to Wales in many ways.
The roundtable event, hosted in conjunction with Business in Focus, one of the main business advice agencies in Wales, provided participants with an opportunity to share their thoughts on barriers and on facilitating growth for smaller businesses.
25 key businesses attended, and all contributed to a lively discussion which touched on, among other areas, access to finance, innovation, leadership and management, procurement, recruitment and skills, collaboration with other small businesses, international trade, location and premises, environment and infrastructure.
Rob Basini, FSB South Wales Development Manager, said: “Feedback from attendees was really positive, and we hope that a natural ‘cohort’ of small businesses may grow from the event.
“From our point of view, our Policy team felt that information gathered will be really useful in many ways. This information will also help feed into our 2020 Our Business is Wales campaign, which is looking to understand issues faced by, and the ambitions of, small businesses across Wales.”