Friday, November 5, 2010

IF I WERE ECONOMIC DEVELOPMENT MINISTER.... (PART 2)

More opinions on economic development from the 2010 Wales Fast Growth 50.  I will post some more next week.....

"I would introduce a programme for the employment of apprentices, which will raise skill levels to ensure the success of our industry for the foreseeable future. I would also minimise ‘Red Tape’, particularly when applying for grant funding required to explore new opportunities and consider a Government supported scheme to guarantee bank finance for investment and expansion".

"I would get affordable funding for growing businesses – the availability of funding is still extremely limited through the normal channels.  The banks say they are open for business but are only prepared to lend on terms that make borrowing wholly unattractive and uneconomic.  I would also foster relationships between schools and businesses to encourage smart students to consider alternatives to college after school - and provide funding for training".

"I would encourage successful businesses and entrepreneurs need to think bigger and reach further and our politicians need to think this way too.  A big robust contributor to the Welsh economy must at least be a force in the UK at worst and globally at best. Government at a national level and locally must have a strategy to recognise the businesses that can achieve this and then have a strategy and support mechanism to help these businesses become major companies who just happen to be based in Wales and will then want and can afford to stay in Wales. I would then ensure the fast cheap availability of capital recognising the differences in these businesses and the different value of contribution they can make. This idea that a small bakery (no offence to bakeries - I come from the land that invented Gregg's) should get the same treatment, benefits or even be managed from an investment perspective as say a higher tech business with real global opportunities and capability is preposterous. I have been through three recessions although the first did not carry with it the recent banking crisis. We seem to lurch through an environment of extremes and this time with some necessary but much too draconian cuts in government spending being proposed. I actually thought the coalition would actually stimulate some better balanced thinking rather than the extremes of a single party with a massive majority. At the moment I can understand why the banking sector is in the firing line but now it appears that it is business and capitalism generally. Lets face facts the UK and Wales is not the best place in the world to be an entrepreneur and it is not a particularly good place to be successful. There are other places on the planet where it is easier to start, easier to flourish, easier to be more competitive, easier to be an employer of people and easier to enjoy the benefits one day for all the risks and handwork we put in. There is much talk in Government that the answer to a lot of problems lies with a stronger and successful private sector and yet I see very little evidence of this being anything else other that hollow rhetoric".   

"I would put resource into businesses that demonstrate the ability to actually deliver. Too much money is/has been wasted on projects that become white elephants. I would improve relationships between businesses and local colleges and universities. The pool of talent that is available through these resources is unbelievable but for some reason, businesses seem reluctant to take advantage of this. Finally, I would promote and market Wales as a place to do business, giving the benefits of being based in Wales. These include dedicated and reliable staff, cost effective business rent and rates, good transport links and business assistance. Wales is often marketed as a place to holiday and explore, but never as a place to do business or to have a business".