Posted: Tue 25th Jan 2022

Updated: Tue 25th Jan

Business Wales boost to Welsh economy worth £790m a year by mid 2021

News and Info from Deeside, Flintshire, North Wales
This article is old - Published: Tuesday, Jan 25th, 2022

Support from the Welsh Government’s Business Wales service boosted the Welsh economy by an estimated £790m a year by mid 2021, according to new research unveiled by Economy Minister Vaughan Gething today.

More than 25,000 jobs have been created thanks to support from the service since 2015, with Business Wales also helping businesses generate a total of £469m in investment over the same period. This has resulted in a combined turnover level of more than £13bn.

The performance of the service has been analysed by Cardiff Business School in a new report.

The report examined the impact of two specific strands of support: The Business Wales Core and Growth programme, which provides assistance to individuals thinking of starting a new enterprise through to established firms with growth aspirations; and the Accelerated Growth Programme (AGP), a targeted service aimed at businesses with the appetite and potential to grow turnover, create jobs and export rapidly.

The report found that the additional employment and activity generated by the Core and Growth programme would contribute an estimated £380m in Gross Value Added (GVA) to the Welsh economy per year by mid 2021, with AGP adding a further £410m GVA per year.

Business Wales includes a team of highly experienced advisers, offering practical information, expert webinars, virtual 1-2-1 advisory meetings and telephone support, as well as access to mentors and further specialist support.

Its guidance has helped a raft of businesses navigate the UK’s exit from the EU and the incredibly challenging coronavirus pandemic.

Earlier this year, figures showed more than 750 entrepreneurs had started a business or become self-employed during the public health crisis with the help of Business Wales.

Welcoming the findings of the report, Economy Minister, Vaughan Gething said:

“Business Wales is a first class service providing invaluable advice and guidance as part of a supportive business environment.

“The value it’s added to the Welsh economy during the most difficult trading period in recent history is a testament to the truly incredible team of advisors that provide direct support to our businesses to help them grow and flourish, helping to create good jobs in communities across Wales. I would like to extend my thanks each of them.

“This Welsh Government is taking bold action to build a stronger, fairer, greener Welsh economy, and Business Wales forms a key part of our proactive approach. This includes helping businesses to create new jobs, find new export markets and invest in the sustainable industries of tomorrow, while fostering the talent and creativity of entrepreneurs to deliver more start-ups.

Spotted something? Got a story? Send a Facebook Message | A direct message on Twitter | Email:


Operation Aztec: Meltdown for hundreds of guns handed in during firearms amnesty


Engineers at AMRC Cymru in Broughton develop and test a revolutionary new rein for horse riders


Mark Tami: 30ft high air quality barriers along A494 in Deeside an “unacceptable imposition on the community”


Work begins on two state-of-the-art industrial and distribution units in Deeside


New train type spotted on Wrexham to Bidston line being tested to see if “capable of operating” on route


Saltney based re-use expert Paul plans to turn scrap into refugee shelters and play dens


Help for Wales’ countryside with £26m fund to limit carbon footprint of tourism


Wales Air Ambulance and Blood Bikes to benefit from housing association’s fundraising efforts


Prestatyn Beach retains prestigious Blue Flag status in Wales Coast Awards