His solution?
To create three “centres for business” – one each in North, South and West Wales. The centres would be “iconic” and would provide support for budding entrepreneurs. There would be mentoring sessions with private sector “heavyweights” as well as financial support, advice and funding. Each centre would also have a “lending room”– a Dragons’ Den-style forum to which around 1500 businesses each month could come to pitch and present their ideas to the banks. The centres for business would be paid for through an Assembly and private sector initiative, with one idea is that banks sponsor the buildings in return for having the lending room.
It is an inspired idea and with the techniums now becoming available in Bangor, Aberystwyth and multiple locations in South Wales, he has the iconic buildings in place to make it happen. The real question is whether the private sector could do this without WAG support. I think it could but it would have to be driven by someone like Paul Ragan.
As the Chairman of this year’s Fast Growth 50 winner, Smart Solutions, he also notes that “Around 90% of our growth will come from 10% of our top people. We need to find that 10% and the only way we will do that is to create the right environment.
However, his biggest criticism is saved for the Economy Development Minister. According to Mr Ragan,
“I met Ieuan Wyn Jones, the minister for the Welsh economy, and I asked him, ‘OK, so I own a hardware store in Aberdare and I want to open two others. Who do I go to, where do I go?’,“He didn’t know. He couldn’t answer. If he doesn’t know who’s responsible for business development, how do you expect the businesses to? I asked, ‘At what point, Ieuan, are you going to recognise that what you do in terms of delivering business support is bad? It doesn’t work."
A point well made and perhaps the biggest problem is that the Welsh Assembly Government is more ready to listen to lobbying groups such as the CBI rather than individual entrepreneurs. Paul Ragan and other successful entrepreneurs have much to offer this nation and government could, and should, be making more of their talents.
