Chambers Wales South East, South West and Mid have issued a statement calling for urgent action to protect Welsh Businesses as instability and costs are rising
IT has become clear that businesses in Wales are in an unsustainable position, moving from crisis to crisis – none of which are of their making.
Eighty per cent of Welsh businesses are currently struggling to find suitable staff; business confidence has shrunk; and many are having to take drastic action, such as hospitality venues closing two days a week to keep energy costs low. This cannot go on.
A leading drink manufacturer in Wales told the Chamber its CO2 costs have increased by 600pc; packaging has increased by 70pc, while grain is set to rise by 28pc.
The company told the Chamber: “Businesses have endured an exceptionally challenging two years and the continuing instability and cost increases are really starting to push business owners to make difficult decisions about whether or not their businesses can continue into the future.
“We have seen businesses we know and others in our supply chain close their doors permanently and, honestly, it’s scary. We need business support and we need it now if we want to prevent a catastrophic wave of business closures. Support in the form of longer business price caps, structural reforms to prevent monopolies, and further investment in supply chain improvements would be a start.”
The British Chamber network has recently published their Business Manifesto calling for four key priorities and the steps around how to achieve them.
- Building British business
- Investing in people for a stable economy
- Raising export-led growth
- Leadership in Green innovation
Chambers South East, South West and Mid is calling on our elected officials to adopt the goals of the BCC’s business manifesto and to start implementing the changes within it.
It is time to recognise that without sustained support for businesses, the economy will continue to shrink, affecting livelihoods and communities all over the UK.