‘What can business support do for me?’
‘What can business support do for me?’
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Entrepreneurs and small businesses in Wales are being urged to make Business Wales their first stop when seeking support, as the economic and political landscape continues to create uncertainty for business leaders.
Phil Jones, Chief Executive of Business in Focus, the social enterprise that co-delivers Business Wales on behalf of the Welsh Government, has warned that although there is “plenty of support out there,” the ecosystem can be difficult to navigate.
“The best place to start, in my view, is to come to Business Wales,” said Mr Jones. “The Service will be able to help navigate you through that broad and wider ecosystem. Business Wales can either provide the support that answers your direct question or has the ability to convene, connect, signpost and collaborate.”
Business Wales provides free advice and mentoring to businesses across Wales, from those starting out at their kitchen tables to established firms with multi-million-pound turnovers. The service has existed for more than 15 years and is delivered by over 100 experienced business advisors and support staff, many of whom have run their own businesses.
“When you speak to Business Wales, you are getting in touch with a team of business experts who have lived experience of developing, growing and diversifying businesses,” Mr Jones explained.
“There are decades of experience just waiting to be imparted to entrepreneurs and business leaders in Wales.”
Demand for the service is high, particularly in areas such as start-up advice, access to supply chain opportunities and support for young entrepreneurs.
One key programme is Big Ideas Wales, which targets aspiring entrepreneurs aged 18 to 25. Mr Jones emphasised the need to encourage more young people to consider self-employment.
“We have very ambitious goals to open the entrepreneurial door to as many young people as we possibly can,” he said. “If you have a business idea, however embryonic it might be, come to Business Wales and its Big Ideas Wales team we will help you to mature those thoughts into something that could be an amazing and viable business.”
Supply chain development is another focus area, with Business Wales having already held expos in Swansea and Llandudno and more supply chain events to come. All these help bring together public and private sector buyers with Welsh businesses.
“At the Swansea and Llandudno events alone, there was more than £41Bn in new supply chain opportunities available to Welsh businesses,” Mr Jones said. “By coming to Business Wales you are getting a competitive advantage. It is fully funded, independent and authentic advice that allows you to get a step ahead.”
While some entrepreneurs believe there is insufficient support available, Mr Jones stressed that the challenge is not a lack of options but rather the complexity of the support landscape.
“There is plenty of support out there,” he said. “What sometimes happens is that support is hard to navigate. If you come to Business Wales first, we will be able to help you navigate that ecosystem, whether it’s finding funding, accessing supply chains or developing your business strategy.”
Business Wales is funded by the Welsh Government and can be accessed online or through its network of advisors across the country.
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