Entrepreneurship tool to grow economy

 

Welsh Conservatives will today call for a fresh strategy from the Welsh Labour Government to drive forward Wales’ economic recovery.

Welsh Conservatives will lead a debate about how Ministers can encourage small business start-ups and stimulate growth in the SME sector to increase employment levels.

In 2009, Wales had one of the lowest business birth rates of all the UK nations and regions.

Private sector employment over the past 12 months has fallen by 35,000 according to figures published earlier this month by the Centre for Cities.

In May’s Assembly elections, Welsh Conservatives proposed a series of costed measures to stimulate economic growth including abolishing business rates for small businesses to help them expand and create new jobs.

Nick Ramsay AM, Shadow Minister for Business, Enterprise, Technology & Science, said, “After 12 years of Welsh Labour Governments, Wales is the poorest part of the UK.

“We need a clearer strategy for growth from Welsh Labour Ministers to support small businesses and help them expand to create new jobs.

“If every small or medium-sized enterprise took on one extra employee, we could wipe out unemployment.

“Helping small businesses survive and expand and making the option to become an entrepreneur a more realistic and achievable goal for people are critical to Wales’ economic recovery.

“Welsh Conservatives have proposed abolishing business rates for small businesses, which would reduce the burden on many and help support our local high streets.

“Welsh Labour Ministers now need to bring forward proposals to back our businesses in a drive to increase prosperity and get the Welsh economy back on its feet.”