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Future looking bright for Welsh family businesses

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familybuisFAMILY firms across Wales are setting their sights on expansion following another hugely successful year for the sector.

New research by Oxford Economics for the Institute for Family Business (IFB) Research Foundation reveals the vast contribution family firms make to the UK economy – employing over 11.9 million people and making up 87 percent of all private sector firms in the UK.

There are now more than 190,000 family run firms in Wales making up one in 20 of all family businesses across the UK. Family businesses also account for 92 per cent of all private sector firms in the region – one of the highest concentrations in the UK, including firms such as Watkin Jones, Brains Brewery, Henllan Bread.

Since 2013 family businesses have increased employment by six per cent and turnover has also seen a strong rise, increasing by two per cent to reach £1.3 trillion. In addition, family firms paid £125 billion in taxes and contributed over a quarter (26%) of the UK’s entire GDP.

Speaking about the new findings, Peter Armitage, Chairman of the IFB, said: “The report sheds light on the sheer size and scale of the family business community. It’s an important reminder of how vital family-run firms are to the UK – serving as the backbone of our economy, with family firms making a phenomenal contribution across all sectors, industries and regions.

“Family businesses have always been at the very heart of the UK economy and based on the steady rise in their recruitment and turnover, it is clear they are here to stay. It’s encouraging to see family firms with such a buoyant attitude towards their future expansion – almost half of family SMEs expect to grow over the next two to three years.”

Growth and expansion is a top priority for many SME family firms with just under half (49%) stating they aim to grow over the next twelve months.

Looking to how they will turn this ambition into reality just under a half of firms (43%) say they will invest in improving the skills of their workforce to support growth, with a third (33%) planning to boost productivity through investing in new machinery and premises.

Looking beyond their traditional activities to diversify their business and customer base, 42% of family firms are planning to move into new markets and 37% are developing and launching new products and services.

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New Quay RNLI lifeboat crew trains with lifeguards

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NEW QUAY lifeboat station hosted a special training evening with the lifeboat crew and Ceredigion’s RNLI lifeguards last week.

Pete Yates, one of New Quay RNLI’s inshore lifeboat helms, worked closely with Ceredigion lifeguard supervisor, Tirion Dowsett, to plan scenarios for the teams to practice working together in casualty care situations.

A large scale scenario included four casualties to be dealt with by the inshore lifeboat crew and two lifeguard teams on a nearby beach, whilst a third lifeguard team and lifeboat crew members dealt with a separate scenario at the lifeboat station.

Pete said: “It was a great evening of training. We had 9 lifeguards and 13 lifeboat crew in attendance.

“The main scenario included casualties suffering from hypothermia and propeller injuries. A second scenario involved a mechanic suffering head injuries in the forepeak of the all-weather lifeboat and requiring extraction on a stretcher.

“On completion of these scenarios we all gathered back at the station where one of our senior crew members sprung a great act at being a diabetic having a hypo, and being suitably angry and aggressive.”

Roger Couch, New Quay RNLI’s Lifeboat Operations Manager, added: “It was great for our lifeboat crew members to work with the lifeguards as it builds a deeper understanding of each other’s roles and encourages teamwork between us. This is of great benefit when dealing with real life casualty care situations.”

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Coastguard rescues dog stuck on cliffs

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LAST TUESDAY (Aug 27), New Quay RNLI’s inshore D-class lifeboat, Audrey LJ, was tasked by Milford Haven Coastguard to assist the Coastguard with a dog stuck on the cliffs near New Quay.

The volunteer crew launched the inshore lifeboat at 1.50pm with four crew members on board and made their way south down the coast.

Brett Stones, New Quay RNLI’s helm said: “We located the dog on the cliffs by Castell Bach, near Cwmtydu. We stood by while the Coastguard team caught the animal. The dog was unharmed and safe with the Coastguard so we were stood down.

“However, while returning to station we were then tasked to a small vessel with engine failure. We towed the stricken boat with three people on board back to New Quay. We rehoused the inshore lifeboat and it was ready for service by 2.40pm.”

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New maintenance Lorries cut carbon emissions

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The Ground Maintenance Team has purchased three new lorries to support ground maintenance services in Ceredigion.

The new lorries will move Ceredigion County Council’s Ground Maintenance Service’s equipment to and from the grounds that they look after. The lorries will also take cut grass away for composting. This provides the most efficient way of maintaining the areas that the team is responsible for.

Councillor Dafydd Edwards is the Cabinet member responsible for Highways and Environmental Services together with Housing. He said: “The new vehicles replace ones which had provided excellent service for almost 20 years. They are fitted with Euro 6 engines which are considerably more efficient and better for the environment.”

The Grounds Maintenance Team is also incrementally introducing electric-powered mowers, blowers, hedge cutters and strimmers into its fleet. This equipment is better for the environment, is easier to use and causes less noise and vibration.

The new lorries support Ceredigion County Council’s commitment to be a net-zero carbon council by 2030.

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