FSB Wales urges new minister Adam Price to act on rates relief for small businesses
The Federation of Small Businesses in Wales has written to the new Cabinet Minister for Enterprise, Adam Price MS, calling for early action on business rates, public contracts and an economic strategy with measurable targets for start-ups and scale-ups.
Mr Price was appointed Cabinet Minister for Enterprise, Connectivity and Energy on 13 May 2026, in the Plaid Cymru minority government led by First Minister Rhun ap Iorwerth following the Senedd election on 7 May.
The letter from FSB Wales is one of the first lobbying interventions of the new Welsh Government term.
FSB Wales is asking the Welsh Government to introduce a dedicated rates multiplier for retail, hospitality and leisure businesses, and to raise the threshold for Small Business Rates Relief, which determines which firms qualify for a discount on their business rates.
The trade body is also calling for the removal of barriers that it says prevent small and medium-sized firms from winning public contracts, and for an economic strategy with clear, measurable targets for new business start-ups and for firms looking to scale up.
FSB Wales said small and medium-sized firms account for 99.3% of Welsh businesses, 62.3% of private sector employment and 42.5% of turnover.
It also said its own research showed more than half of small businesses in Wales had growth ambitions, despite years of pressure from rising employment, rates and energy costs.
John Hurst, FSB Wales Chair, said:
“Small businesses are ready to play their full part in building a more productive and resilient Welsh economy, but they need the right conditions to do so.”
“Providing fiscal breathing room through rates relief, alongside dismantling the barriers that shut SMEs out of procurement opportunities, would inject much-needed confidence into the economy.”
“Our message to the Cabinet Minister is simple: test every policy against one question, does this help small businesses invest, recruit and win work? If we get that right, we will unlock sustainable growth and strengthen local economies across Wales.”
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