Welsh flag flies high
Businesses across Wales are continuing to prosper post-EU referendum and are showing no signs of slowing down…
A lot has been made of what the future holds for Welsh businesses post-Brexit and there is still an awful lot of uncertainty surrounding the topic.
Earlier this week we heard how Welsh lamb could lose its status after Britain withdraws from the EU and how Welsh Universities have sent a direct plea to Brussels to help them post-Brexit.
However, amidst all of this uncertainty, businesses and public bodies across Wales have continued to thrive and pump money into the Welsh economy over the past 11 months.
In fact, just this week, the Welsh Government announced plans to pump £12m into the creation of a new 5G chip facility which could create up to 2,000 jobs in South Wales.
On top of this, contact centre Carpeo announced yesterday that it would create 300 jobs in Newport with the opening of a new contact centre for wills and funeral plans.
Carpeo’s investment in particular comes at a time when so many contact centres are moving their operations overseas and is a huge show of faith from the company in the Welsh economy.
Meanwhile in the food and drink sector, Wrexham-based Tomlinson’s Dairies has announced that it is creating 70 new jobs and expanding its cold storage facilities after securing a £22m co-investment from Finance Wales, Welsh Government and HSBC.
Managing director Philip Tomlinson said: “We’re proud to be able to expand our operations in North Wales and create 70 new jobs for the local area following this investment. This is a great place to do business and we’re excited for the future.”
And it’s not just British businesses which are realising Wales’ potential. Over the past few months, Sony has announced that its new 4K cameras which have been labelled the “next generation” in broadcast technology are set to be manufactured in Wales, marking the first time they have been produced outside of Japan.
Sony UK TEC’s managing director Steve Dalton OBE said: “At Sony UK TEC we have nurtured our skilled workforce of over 400 team members ensuring they are experienced, constantly innovative and always striving for improvement. We are delighted to bring this progressive technology into Wales, which will once again reaffirm our nation’s reputation as a significant manufacturing force on the global stage.”
Also, GE Aviation has announced that the production of its new GE9X engines, the world's largest and most fuel-efficient jet engine, will take place at its Maintenance Repair and Overhaul (MRO) facility in Wales. For overseas businesses, Wales is looking like as attractive a proposition as ever.
And that is even the case for Wales’ steel manufacturing sector, which looked as if it was being torn apart just 12 months ago. Tredegar’s steelworks was shut down over a year ago after its owners went into administration. Now, it is set to double its workforce after being saved by commodities trading group Liberty House.
David Ashton, plant director at Tredegar, said: “We have had a strong six months since reopening the plant and are working hard to ramp up volume on shipping to our customers and developing and growing the building.
“Over the next few years, with increasing pressures on infrastructure and greater demand within the construction industry, we expect to see increased consumption of our products over the years to come.”
Welsh businesses have also seen exports rise over the past 12 months. Britain’s decision to leave the EU has led to the pound plummeting across global currency markets and in turn has led to a surge in overseas demand for British goods and services.
Over the past year, Wales has seen the value of its exports rise by £725m from £11.6bn in 2015 to £12.3bn in 2016 and it is showing no sign of slowing down. With technological advances removing the barriers of time and distance, Welsh businesses have a golden opportunity to forge a new role for themselves in the world.
Much of the advanced technology powering our mobile phones and other devices is being pioneered right here in Wales and over half of the world’s commercial aircraft are now flying using wings made by Airbus in Broughton. In fact, every two seconds, a GE powered airplane is taking off somewhere in the world.
And helping bring these innovations to market and showcase the country on a global stage is the country’s buoyant aviation and maritime sectors, which are being heavily supported by the Welsh Government.
Cardiff Airport announced a couple of weeks back that it is set to welcome a new Qatar Airways service to Doha next year, providing trade links with countries across the globe and economy secretary Ken Skates has also invited ports across Wales to bid for a share of £2m of government funding to develop Welsh ports.
Skates said: “Continuing and improving links both within Wales and internationally is as important today as it has ever been, and our ports play an important role in this regard.”
And that is just the tip of the iceberg. There is so much going on in Wales and if one thing is for certain, the country is open for business.
So, if you’re inspired by what you read, why not join BQ in celebrating Wales’ success? To get your business involved or have your say, drop us an email at email@example.com.
Wales is open for business and we want to let the world know.
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