- Posts: 107
- Joined: Wed Jul 16, 2014 10:01 am
http://www.walesonline.co.uk/business/b ... g-11814719
According to the report Cardiff is now the sixth most prosperous UK city, per person.
The key stats are:
A 12% rise in turnover for small and medium-size businesses
GDP per capital up 9.7%
a 10% rise in the number of businesses founded
Eileen Cronin, regional Director, Wales region, Barclays Wealth and Investment Management, said: “It is very encouraging to see that prosperity in Wales is on an upwards trajectory, with the region’s entrepreneurial workforce playing a vital part in supporting our growth.
“The fact that Cardiff’s SMEs are now growing at the same rate as those in London demonstrates that we are on course to compete with the capital when it comes to providing the right conditions to start and grow a successful business and drive prosperity more widely.
“We can feel confident that these signs of development show that not only is Wales still ‘open for business’, but that we also have a really important role to play in the prosperity of the UK as a whole.”
Enterprise academic Professor Dylan Jones-Evans said the rise of one position for Wales and the strong performance of Cardiff in the city analysis, was encouraging.
He added: “However, it will need all our cities, with Swansea and Newport alongside Cardiff, firing on all cylinders it we are to significantly improve the economic competitive against the UK average.
“Although on the key GVA per head measure Wales has been one of the best performing economies outside of the south-east of England in recent years, things can be better.
“Cardiff, can and is raising the bar, “There are fantastic established businesses in the city, such a IQE in technology, Admiral in financial services and family-owned brewing and hospitality firm SA Brain & Co which recently received an outstanding achievement awards at the Cardiff Business Awards.”
Prof Jones said that for start-up firms, despite the fact that many will fail - which is also the case globally - it was important not just in Cardiff, but the whole of Wales, to create the right environment for them to flourish.