Welsh firms confident of growth

EARLY nine in 10 (89%) businesses in Wales are confident about growth this year, according to new research from professional advisory firm KPMG.

- SION BARRY Business editor

Harbourside, Port Talbot, part of the Celtic Freeport project

Its annual private enterprise barometer shows confidence over growth among Welsh firms is 2% higher than the UK average of 87%.

Increased demand for products and services was identified as the main reason for the outlook, cited by 43% of Welsh businesses, while 42% highlighted plans to introduce new technology as another reason for optimism in the year ahead.

Technology also dominated as a leading investment priority for Wales-based businesses, with 39% identifying areas such as digital transformation as a key investment focus, followed closely by investment in artificial intelligence (38%), both in line with the UK averages.