Figures released by the Office of National Statistics yesterday show that Wales has the second lowest business start-up rate in the UK. Wales has a business birth rate of 9.3%, almost 2% below the UK average of 11.2%.
These figures are less than encouraging and show Wales being near the bottom of the UK league table for business start-ups.
The economy is recovering and unemployment is falling, but it is sad to see that in Wales fewer people are willing to start their own business compared to England and the rest of the UK. We should be promoting entrepreneurship as a way to create jobs and boost our economic recovery.
Welsh Liberal Democrats want to see more done by both the Welsh Government and local Councils to encourage business start ups, both in the service and retail sectors. There are plenty of examples of local councils in Wales and in England providing help for the service sector and creating the right conditions in town and city centres for the entrepreneurs to set up new retail businesses. Sadly to date we haven’t seen anywhere near enough action from the Welsh Government.