Micro-business report to lead the way to recovery

An independent report has put forward ‘significant and bold’ recommendations for the Welsh Government to support the growth of micro-businesses in Wales.

They include a call to cut the red tape which is said to be overwhelming micro-businesses.

Launching the report, Robert Lloyd Griffiths, Director, Wales, Institute of Directors, who chaired the group said their recommendations were significant and bold.

“This is rightly so as the micro-business sector is a vital, dynamic and integral part of the success of the Welsh economy and has the potential to be a driving force for economic recovery.

“We believe that micro-businesses in Wales have immense potential to maintain, improve and increase the contribution that they can make to their communities, the economy and to the life of the Welsh nation.”

The report provides the Minister for Business, Economy, Technology and Science, Edwina Hart, with advice and recommendations on the development and implementation of a micro-business policy and strategy.

Key priorities identified by the group are:

• Awareness and access of business support services for micro-business
• Access to finance
• Mentoring and coaching
• Public sector procurement
• Regulatory burden

Robert Lloyd Griffiths said: “I am delighted with the response we have had to our recommendations and I hope this provides the momentum to drive them forward.”

This article has been tagged: welsh government, micro-business