Business

Enterprise Zones to be reorganised

Published

7 years ago

March 13, 2018

Enterprise Zone: 'Little to show for the money', claim Conservatives

ECONOMY Secretary, Ken Skates has announced an intention to streamline the operation of Wales’ eight Enterprise Zones while increasing their focus on delivering prosperity for Welsh communities.

During an appearance at the Economy, Infrastructure and Skills Committee, Ken Skates announced the conclusions of his review of the governance of Wales’ Enterprise Zones while stressing his commitment to the continuation of all eight of the zones.

Speaking after Committee, Ken Skates said: “I am very proud of the achievements and success of our Enterprise Zones and grateful for the hard work and commitment of the Chairs and Advisory Boards in driving their success.

“Collectively our Enterprise Zones supported over 10,700 jobs to the end of the last financial year at a cost per job of less than £6k per job, and whilst the pace of delivery has varied between the Zones, this very much reflects each Zone’s economic context and starting position.

“All eight Enterprise Zones have made significant progress, and are continuing to deliver value for money by laying the foundation for future prosperity and creating the right environment to support the development of sustainable job opportunities in communities right across Wales, both in the short and longer term.

“The changes I have outlined are about streamlining bureaucracy and utilising other governance structures where I believe that represents the most sensible way forward. They have also been made as part of a wider review of advisory architecture across my portfolio.

“The views of the Chairs of the Enterprise Zones have been invaluable in shaping my decisions.”

Mr Skates announced that four of the eight boards that advise the government on Wales’ enterprise zones are to be wound up this summer. The boards overseeing the zones in Cardiff, St Athan, Deeside and Ebbw Vale will cease to exist from July 31. But the zones themselves – designed to support business growth with some tax incentives – will continue to exist.

Boards in Port Talbot and West Wales will continue, while those for Snowdonia and Anglesey will merge.

Mr Skates also said more enterprise zones could be created, in places such as Wrexham.

Responding to Ken Skates’ comments, Welsh Conservative leader, Andrew RT Davies, said: “Labour’s enterprise zones have cost the Welsh taxpayer hundreds of millions of pounds – with very little to show for the money and Welsh workers still receiving the lowest average weekly wage in the UK.

“The Cabinet Secretary’s comments indicate the Welsh Government might well continue down the road of Enterprise Zones, potentially throwing good money after bad.

“The approach outlined by Ken Skates seems haphazard at best, utterly shambolic at worst and certainly does not fit into the rhetoric of the Welsh Government’s recently launched economic action plan. Some new enterprise zones are to be created, some boards are to merge, and some wound up altogether!

“The Welsh Government must now make clear its long term plans for the zones and ensure that any future funding produces tangible economic results for Wales and our local communities.”

Wales’ eight Enterprise Zones were first launched in April 2012. The then Cabinet Secretary for Business, Edwina Hart, stated that “My aim in developing enterprise zones is to strengthen the competitiveness of the Welsh economy.”

Since the creation of the zones, £221 million of public funds have been allocated to support that policy initiative. Despite huge injections of public funds however, serious questions remain as to whether the Enterprise Zones have delivered their key objectives:

In the Ebbw Vale Enterprise Zone £94.6 million has been spent to create, safeguard or assist just 390 jobs (at a cost of around £250,000 per job)

In the Snowdonia Enterprise Zone £2.1 million has been spent to create, safeguarded or assist just 20 jobs (at a cost of £108,333 a job)

A further issue is the question of whether or not Enterprise Zones have come close to fulfilling their original intent.

Enterprise Zones were set up by the Welsh Government to ‘grow the local economy and provide new jobs’.

However, while Mr Skates claims that over 10,700 jobs were ‘supported’, Welsh Government figures suggest that, in practice, the zones have not been used to create new jobs.

The average cost of each new job created by Enterprise Zones has been £74,000

The St Athan Enterprise Zone was supposed to deliver 10,000 jobs by 2025 – but in five years the number of new jobs actually created was 137.

In Ebbw Vale, £94 million has been spent on just 175 new jobs, the equivalent of £500,000 a head.

In Snowdonia, £2.1 million has been spent on creating 6 new jobs.

Looking at the figures revealed for the Haven Enterprise Zone, reveals that 356 jobs have been created, 561.5 safeguarded, and 196 assisted: 1,113.5 jobs.

Using a crude measure – the total number of jobs involved came at a cost of under £8,500 each. However, under one third of those jobs are the sort of new jobs the Enterprise Zone was supposed to create.

Business

Fat Freddies reassures customers after technical hiccup at new Johnston venue

Published

12 hours ago

May 16, 2025

Tom Sinclair

FAT FREDDIES, the new family-run restaurant at the former Silverdale Inn in Johnston, has thanked customers for their overwhelming support after a temporary closure on Friday (May 16) due to teething problems with its order system.

The business, which launched earlier this week as part of a soft opening, faced technical issues with its till and printer setup, which led to confusion in the kitchen and order delays. The team made the decision to pause service mid-shift to investigate and fix the problems — and their honesty and transparency have earned them praise from loyal customers.

In a heartfelt social media post, the team wrote: “Even with additional staff, we were left with no choice but to end the mess that was building up and spend the afternoon problem-solving. Emotional and devastated, after a great opening week to be hit with these issues on our third day.”

Despite the setback, customers have rallied behind the business.

Jo Goldsmith commented: “We had a wonderful breakfast on Wednesday, absolutely delicious and fantastic service. Keep going!”

Roo Ash praised the team’s decision to take a break rather than “try to save a sinking boat,” adding: “You got this! Can’t wait to pop down!”

Another regular, Dianne Riddiford, was equally understanding: “Ahhh there’s always a few gremlins at the start. Enjoy the afternoon and we shall see you tomorrow morning.”

Emma Sutton said: “Sounds like you did the right thing, guys. Chin up, onwards and upwards.”

Even those who missed out are planning to return. Michael Butler said: “We came around 11am but were told the kitchen was closed due to catching up. We were gutted — will try come again.”

Fat Freddies confirmed they are now fully focused on getting everything operational again, with a larger team on hand for the weekend rush. The soft launch continues, with the owners saying the whole point was to iron out issues before a full-scale opening.

They added: “We’re gutted — but also so grateful for everyone’s support and understanding. We’ll be back stronger.”

Business

Sir Michael Moritz tops Welsh Rich List as Sunday Times reveals UK’s wealthiest in 2025

Published

18 hours ago

May 16, 2025

Tom Sinclair

Drop in UK billionaires but rising young fortunes for Wales

SIR MICHAEL MORITZ and his wife Harriet Heyman have retained their crown as the wealthiest individuals in Wales, topping the Welsh list in The Sunday Times Rich List 2025, which was published online today (Friday, May 16) and will appear in this Sunday’s print edition of The Sunday Times.

The Cardiff-born venture capitalist and his American novelist wife are worth an estimated £4.43 billion, despite a recent £168 million dip. They lead the list of the top 20 richest people in Wales, compiled as part of the newspaper’s annual 76-page special on Britain’s richest individuals and families.

***Douglas and Dame Mary Perkins, founders of the high-street opticians chain Specsavers***

Hot on their heels is tech entrepreneur Simon Nixon, with a fortune of £1.95 billion — up £70 million on last year. West Wales is also represented in the top ranks, with Douglas and Dame Mary Perkins, from Carmarthenshire, founders of the high-street opticians chain Specsavers, valued at £1.54 billion. The couple famously launched the company from a ping-pong table in their spare bedroom.

This year’s Rich List reveals the largest drop in UK billionaires in its 37-year history, with the number falling from a peak of 177 in 2022 to just 156 in 2025. The combined wealth of the 350 people featured is now £772.8 billion — a 3% decrease on last year.

While the overall number of billionaires is shrinking, there has been a surge in younger millionaires. For Wales, 39-year-old sports retail entrepreneur Alex Loven leads the under-40 category with an estimated wealth of £262 million. Entry to the 40 Under 40 section now requires a staggering £100 million — nearly double last year’s threshold.

Robert Watts, compiler of The Sunday Times Rich List, commented: “Our billionaire count is down, and the combined wealth of those who feature in our research is falling. We’re also seeing fewer of the world’s super-rich choosing to live in the UK. But at the same time, we’re still uncovering remarkable stories of self-made wealth — from new tech and AI ventures to everyday products like jogging bottoms and radiators.”

The list also highlights rising frustration among entrepreneurs and business leaders about the direction of economic policy. Watts noted that even long-standing British business owners and young tech innovators are warning of the effects of tax changes introduced in the 2024 Autumn Statement.

Among the familiar names still featured are Sir Elton John, Sir Mick Jagger, Sir Lewis Hamilton, and film director Sir Christopher Nolan. The entry level for the Rich List remains at £350 million.

The Rich List also includes The Sunday Times Giving List, which tracks philanthropic giving. This year, the 100 most generous individuals donated £3.7 billion to charity. Welsh businessman Steve Morgan alone contributed millions and called for “braver philanthropic giving to tackle systems, not symptoms.”

The top 5 richest in Wales (2025):

Sir Michael Moritz and Harriet Heyman – £4.43bn (venture capital and philanthropy)
Simon Nixon – £1.95bn (technology)
Douglas Perkins and family – £1.54bn (opticians – Specsavers)
Sir Terry Matthews – £1.34bn (telecoms)
David Sullivan and family – £1.12bn (property)

Top under 40 in Wales:

Alex Loven – £262m (sports retail)

The full list of the 350 richest individuals in Britain and further analysis is available online at: https://www.thetimes.com/sunday-times-rich-list
Source: The Sunday Times Rich List 2025

Business

Welsh TV sector boosted as hit BBC drama films in Cardiff

Published

1 day ago

May 15, 2025

Tom Sinclair

Cardiff stands in for London again as Industry returns for fourth season

THE WELSH TV industry has received a major boost as filming continues in Cardiff for the fourth season of the hit BBC and HBO drama Industry.

The high-profile series, which follows the lives of ambitious young bankers working in London, is being produced once again by Cardiff-based company Bad Wolf. This season is backed by Welsh Government funding through Creative Wales, under a four-year deal designed to grow the nation’s television sector.

As part of the agreement, the production offers paid trainee roles and career development opportunities for Welsh crew members through Screen Alliance Wales. The Herald understands at least 42 trainee and upskilling placements will be delivered as part of the scheme, helping more people from Wales enter or progress within the TV industry.

The new series stars BAFTA winner Marisa Abela, Myha’la and Game of Thrones actor Kit Harington. New cast members include Stranger Things star Charlie Heaton and Max Minghella of The Social Network and The Handmaid’s Tale.

Although set in London, much of the filming takes place in Cardiff, with the capital doubling for the City’s financial district. In recent years, Cardiff has also stood in for locations including Oxford in His Dark Materials and an unnamed US city in Netflix’s Havoc.

Skills and Culture Minister Jack Sargeant visited the Industry set this week and met with cast, crew and trainees. He said:
“As Learning at Work Week draws to a close, it’s been a pleasure to hear about the fantastic experience our Welsh trainees are gaining on Industry.

“These placements help develop our homegrown talent and reinforce Wales’ growing reputation as a world-class filming location.”

Jacob Cook, a trainee in the graphics department, said he was working in a supermarket before landing the role:
“I studied graphic design at university but had no idea how to get into the film and TV industry. I met someone from Screen Alliance Wales at a careers fair, and two weeks later I was working on set.

“It’s a fast-paced role where I’ve learned so much. You don’t have to go to Hollywood to build a successful career – you can come to Splott!”

Costume trainee Rosie Berry added:
“I’ve got a degree and a master’s in costume design, but after taking time out to raise my children, I wanted to get into the industry properly.

“I’m now based in the studio, helping with fittings for supporting actors – some days we do up to 40 fittings. This placement has given me the confidence to apply for a junior role and work my way up.”

The Welsh Government says the deal with Bad Wolf commits the production company to a minimum Welsh spend over four years, helping to strengthen the domestic industry and build long-term career pathways for Welsh workers.