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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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Conservatives in disarray over alleged Christmas party lockdown breach

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THE CONSERVATIVE Party is investigating the attendance of senior Senedd members and staff at a Christmas party held during December’s lockdown.

Lockdown restrictions prohibit mixing with people outside your own household.

The Welsh restrictions barring such gatherings follow the basic outline of those imposed by the Conservative UK Government in December.

Those attending the drinks party included Paul Smith, the Conservative Chief of Staff at the Senedd, Darren Millar, the Party’s Chief Whip and campaign coordinator, and Preseli Pembrokeshire MS and Conservative Senedd Group Leader Paul Davies.

The Herald understands that a Labour Senedd Member who attended the Party has been suspended by the Labour Senedd Group pending its own investigation.

The Conservatives’ embarrassment at talking the talk but not walking the walk is intensified by Darren Millar’s presence at the shindig.

In May, Mr Millar led calls for Wales’ Health Minister Vaughan Gething to be sacked for eating a bag of chips in a park with one of his own children.

If the Conservative Party follows the logic of their previously stated positions, Mr Millar’s and Mr Davies’ futures look bleak indeed.

With a Senedd election only months away, the revelations have thrown the Conservatives into disarray.

If they do nothing, the Conservatives will – at the very least – face claims they are hypocrites.

If the Conservative Party acts decisively, it faces massive internal problems.

The Conservatives responded to our request for a response to our story.

Those involved stressed they did not host a Christmas Party.

The incident happened on December 8, when the above met in the members’ tea room to discuss legislation for possible inclusion in the Welsh Conservative manifesto with a Labour backbencher.

During the evening they did drink a glass or two of wine.

They stress that at no point were there more than four people in the room at any one time and that they maintained social distancing.

A joint statement from Paul Davies, Darren Millar, and Paul Smith said: “We are profoundly sorry for our actions.

“While we did not break the rules, we recognise that what was part of a day’s work would not be seen to be following the spirit of them, especially given the tough time the country has been going through.”

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Warning to drug users in Ceredigion over ‘Street Valium’

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POLICE are once again warning drug users in Ceredigion to take extra care when taking illegal prescription drugs especially when taken in conjunction with other drugs and/or alcohol. Mixing drugs, knowingly or unknowingly, can be extremely dangerous for anyone taking them.

A Dyfed-Powys Police spokesperson said: “We have reasons to believe that drug users are making use of “Street Valium” at the moment and this is very concerning as individuals just do not know what these tablets may have been combined with. Valium, also known as diazepam – is a benzodiazepine. Combining opioids and benzodiazepines is particularly dangerous because both types of drug sedate users and suppress breathing”.

“We would also appeal to drug users to seek medical attention immediately should they become unwell.

“Please share this information with anyone that you believe could come into contact with these drugs.”

To seek advice and support, visit https://barod.cymru/where-to-get-help/west-wales-services/ddas-dyfed-drug-and-alcohol-service/

Please be aware that some services may operate an automated service outside office hours.

In an emergency, or if you think someone’s life is at risk, always dial 999.

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Ben Lake MP stands up for Ceredigion’s hospitality sector in Parliament

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A WESTMINSTER Hall debate, brought about by an online petition signed over 200,000 times, saw MPs on both sides come together to shine a light on the challenges currently faced by restaurants, pubs, bars, cafés and supply chain businesses across the UK.

During his contribution to the debate, Ben Lake MP emphasised the importance of the hospitality industry to Ceredigion’s local economy. Ceredigion is home to nearly 400 food and accommodation businesses, including 75 pubs, and together hospitality businesses employ 4,500 people in the county. This equates to over 16% of all employees, without accounting for the many supply chain jobs that are dependent on the sector, such as those found in breweries, food wholesale, and catering equipment hire businesses.

Figures published by UK Hospitality have shown that approximately 41% of hospitality businesses suggested that they would fail by mid-2021 and only one in five sector businesses have enough cash flow to survive beyond February.

Ben Lake MP said: “The vaccination programme of course offers some hope that we will see the level of Covid disruption reduce significantly this year, but hospitality businesses across Ceredigion tell me that they are deeply concerned about their immediate prospects for survival.

“I support calls for the Treasury to provide additional funds so that businesses can be supported to bounce back once restrictions have been eased, and to pause employer national insurance contributions for furloughed employees as a way of alleviating the burden on businesses that are still, in many instances, required by law to close. I also urged the Treasury to consider extending the business rates holiday for the forthcoming financial year, as well as extending the hospitality VAT reduction scheme into 2022.

“Not only would these support measures give businesses the support they require to see out this pandemic, it would also avoid the terrible situation whereby businesses that have previously received Government support are forced to close for good – leaving their employees without a job and previous Government support in vain.”

While there will be no direct action as a consequence of this Westminster Hall debate, it is hoped the result will put increased pressure on the UK Government to consider the proposal more seriously.

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