Collaboration key to boosting confidence

AS DIRECTOR of ICAEW in Wales, I spend much of my time listening to business leaders, policymakers, communities, and our members across our nation.

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First Minister Eluned Morgan speaking during the Wales Investment Summit in Newport earlier this month

And I'll be honest: it is easy to focus on the negatives. Rising costs, global uncertainty, and the challenges of adapting to new technologies can weigh heavily on us all.

Yet, despite the pain, I believe there is much to be positive about. If we harness the opportunities before us, Wales can unlock a new era of growth, resilience, and prosperity.

No-one can deny that businesses in Wales have faced a tough few years.

Inflationary pressures, supply chain disruptions, and the lingering effects of the pandemic have tested resilience. Many firms are grappling with higher borrowing charges and rising employment costs.

For some, the struggle to stay afloat is very real.

But focusing solely on these difficulties risks missing the bigger picture. Wales is attracting record levels of investment, our creative and technology sectors are thriving, and we are leading the way in sustainability. These are not abstract headlines - they are real opportunities to transform our economy and create wealth for all.

At the Wales Investment Summit earlier this month, we saw pledges of more than £16bn in inward investment

‘That is not just a number - it represents confidence in Wales as a place to do business. From 5G expansion to clean energy projects, these commitments will create thousands of jobs and modernise our infrastructure.