Growing Your Business
The challenge of the Welsh SME
By Robert Marr, Managing Director of t2 business solutions

The SME sector has on many occasions been referred to as the backbone of the Welsh Economy. There are 85,805 businesses in Wales, 98% of which have less than 250 employees and therefore fall within this bracket. Furthermore, the SME sector employs 41% of all those working in Wales. The success of this sector is therefore vital to the economic prosperity of Wales and every effort should be focused on nurturing and developing it.

One of the main challenges for SME management teams is attempting to grow the business while not taking their eyes off the day-to-day operations. Achieving growth whether through acquisition, market expansion or developing new products is time consuming and can be risky. While obviously growth is good, it can bring with it more issues and problems to overcome – for example locating new premises, recruiting additional staff, financial planning or the development of a marketing plan.

Thankfully help is at hand.  t2 business solutions has secured funding through the WDA, ELWa and the European Regional Development fund to offer business advice to the SME sector free of charge.  Depending on the growth potential of the business, t2 can offer generic business advice to assist in addressing the key issues surrounding its growth, becoming that all-important extra pair of hands to the busy SME management team. 

Welsh SME management teams have a tough job on their hands dealing with change, growth and diversity. And yet their success is required for Wales to rise and achieve its potential.  A collaborative effort is therefore required by all organisations to provide management support that is cost effective, timely, flexible and relevant – and which really meet the needs of the Welsh SME today.