Business

New vision to secure a bright future for Wales’ retail sector

Published

2 years ago

June 19, 2022

BETTER pay and conditions, greater job security, improving career progression and a commitment to creating a skilled future workforce are at the heart of a new vision to revitalise Wales’ retail sector being launched this week by the Welsh Government.

The Shared Strategic Vision for the Retail Sector sets out how the Welsh Government, the sector and trade unions will work together in social partnership to ensure retail has a bright and sustainable future in Wales, which provides fair and rewarding career opportunities for its current and future workers.

The retail sector is hugely important to the Welsh economy. It is Wales’ largest private sector employer, providing jobs to more than 114,000 people, contributing 6% of Wales’ GVA.

The Welsh Government values the jobs, goods, community services and benefits the sector provides. Ministers are committed to working with partners to support a sustainable and prospering retail sector that remains at the heart of Welsh communities, which offers people fair work and real career opportunities.

The changing face of our town centres is vital to retail and in turn our town centres need a successful and resilient retail sector.

The Vision outlines the major challenges facing the sector, and defines the key areas where action is needed.

These include:

Improving career opportunities within retail, with a commitment to progressively improving pay, terms and conditions beyond statutory minimums, ideally through collective bargaining.
Greater job security, particularly in ensuring workers being offered guaranteed hours and sufficient notice of changes in shift patterns.
Retail becoming an exemplar of workforce equality, diversity and inclusion – with proactive steps taken to address under-representation, occupational segregation and pay gaps.
Ensuring fair working conditions and a safe working environment, with retail workers having an effective voice in decisions that affect them and their working conditions.
Ensuring Wales’ town centres and high streets are thriving, through interventions such as investment, including ‘Transforming Towns’ regeneration investment, support for non-domestic rates and, through the Welsh Government’s Town Centre First approach, making these settings the preferred location for workplaces and services.
Addressing skills shortages. Building on the Welsh Government’s Plan for Employability and Skills and in partnership with the sector and trades unions, Ministers are committed to helping to provide the sector with a future-proofed workforce. The plan sets out actions to both upskill existing workers and attract new entrants to the sector.
Helping retailers to seize the opportunities of decarbonisation and digitalisation by, for example, reducing their reliance on fossil fuels, minimising the carbon footprint of their supply chains and investing in and maximising the potential use of digital technology.

Economy Minister, Vaughan Gething and Deputy Minister for Social Partnership, Hannah Blythyn, are jointly launching the Vision today during a visit to independent bookshop, Storyville and Boots the Chemist in Pontypridd town centre.

Economy Minister, Vaughan Gething said: “Retail in Wales is hugely important to our economy, our communities, and our well-being as a nation. Retail is all around us in every part of Wales – in every village, town and city. We very much value the jobs, goods, community services and benefits it provides.

“Our appreciation of the retail sector, as a cornerstone of the foundational economy, has only grown through the Covid pandemic – but we know a successful and resilient retail sector does not happen by accident. That’s why it is important we nurture the environment in which it can grow and adapt, especially in response to shift to a more circular economy.

“The shared vision we are launching today commits the Welsh Government and the retail sector to an ongoing dialogue and close working to rise to the challenges ahead. We know there are no quick fixes, easy solutions, or infinite budgets. What we do have, however, is a willingness to work in social partnership, with the Welsh Government, employers, business representative bodies and trade unions working together to understand where we are now, where we want to get to, and how we can get there.

“The Welsh Government is determined to improve the quality of life and the conditions that will make Wales an attractive place for individuals and businesses to plan their futures. I firmly believe the retail sector has a vibrant future, and will continue to be a key player within the Welsh economy.”

Deputy Minister for Social Partnership, Hannah Blythyn said: “The retail sector is heavily dependent on its workforce. A better deal for retail workers – better pay, better terms and conditions, better training and better career prospects will help the retail sector overcome workforce recruitment and retention challenges, particularly at a time of high employment. This will help project retail as a long-term career of choice and equip the workforce to deliver even better levels of customer service.

“We must ensure retail workers have a genuine voice, predominantly through their trade unions, in helping to shape their working conditions and the future of work in the sector. Embedding the spirit of social partnership – where businesses and trade unions work together – must be a cornerstone of the retail sector of tomorrow.”

Sara Jones, Head of the Wales Retail Consortium said: “The Retail Vision provides welcome recognition of the retail industry, and our workforce, by the Welsh Government. The covid pandemic shone a spotlight on just how important a role our retailers play, as drivers of the economy and as community champions at the heart of our towns. The industry continues to face structural challenges that have only been accelerated over the last two years, however we know that there are opportunities to flourish and to create sustainable high streets and ensure retail remains a career of choice for many.

“The sector has a strong tradition of innovating and being at the forefront of new ideas, to the benefit of Welsh customers, and we look forward to building on these foundations in a truly collaborative approach with policymakers and leaders at all levels. Whether it be through the industry’s Climate Action Roadmap, Diversity and Inclusion Charter, or our significant charitable giving, retailers are continuously looking at ways to promote equality and opportunity for our workforce, suppliers and our communities, and be an effective contributor to society. We look forward to the next stage of the Retail Vision and the WRC being a key partner in delivering on these aspirations.”

Nick Ireland, Usdaw Regional Secretary said: “We have been working with the Welsh Government and our social partners for some time on how we can together tackle long established issues in the retail industry and we are delighted with the Vision that they have announced today. The industry as a whole was struggling before Covid-19 with record numbers of shop closures and job losses, so the ongoing commitment to support high streets and regenerate town centres is crucial.

“We not only need to secure jobs through helping the retail industry to prosper, but they must be good jobs with decent pay, that promote equality and bring an end to insecure contracts, which we have consistently called for in our ‘New Deal for Workers’ campaign. That is best achieved through collective bargaining with trade unions, which is an important part of this Vision for retail in Wales.

“Usdaw stands ready to build on the work we have done with the Welsh Government, business representative groups and by engaging with retail employers and seeking to deliver a highly motivated, well-trained and respected workforce. For too long retail work has been undervalued, this Vision gives us the opportunity to change that and give Welsh retail staff the dignity they deserve.”

The Strategic Vision will be followed by a delivery-focussed Action Plan in the coming months.

Business

Paramount’s key role in transformation of McArthurGlen Designer Outlet

Published

6 hours ago

April 25, 2024

Tom Sinclair

FAST-growing Welsh company Paramount is relishing the challenge of creating an “irresistible dining destination” after winning the contract to play a key role in the multi-million transformation of the McArthurGlen Designer Outlet Bridgend.

The Cardiff-based design, build, fit-out and refurbishment specialist will spearhead the re-development project of the shopping centre after being handed responsibility for revamping its popular food court over the summer.

In the coming months, the development will see the Food Court transformed into three modern, and bright restaurants, welcoming new food and beverage brands to the centre and creating more than 100 new job opportunities for the local community.

Paramount’s Construction Director, Paul Thomas, said: “The team behind the scenes at McArthurGlen Designer Outlet Bridgend have fantastic plans for the future and we’re delighted to have been entrusted with the mission to help turn their exciting vision into a reality.

“Paramount prides itself on creating places where people want to be, and my team are relishing the opportunity to help create what will be an irresistible dining destination. It’s certain to be a complex project, but we have the expertise and local knowledge to deliver outstanding results in close collaboration with our project partners.”

The owners of the shopping centre, which has been attracting local people and visitors for more than 25 years, have promised a “substantial investment to redevelop the Food Court area and replace it with new and exciting restaurants”.

Now the Paramount team is ready to lay the groundwork by removing some existing structures around the Food Court and will then introduce a series of new features as part of the overall facelift. These include new glazed entrance doors within glazed curtain walling shopfront, render and a new entrance lobby with new stairs and lifts.

The work to completely develop the Food Court in the shopping centre starts this week, and is expected to be completed in late autumn. As a result, customer favourites including Nando’s, McDonald’s and Chopsticks will be closed while work is under way.

Patrick Finney, Head of European Construction, McArthurGlen Group, said: “After celebrating our 25th anniversary last year, we’re extremely pleased to welcome Paramount on board in this important step of revitalising the Food Court area.

“These are exciting times for everyone at one of South Wales’ best-loved retail complexes and we know Paramount will work closely with us to create a truly special place for diners and shoppers of all ages.”

Paramount, whose turnover reached £45 million in 2023, employs 60 people who own a majority shareholding of the business – 51 per cent – following completion of an Employee Ownership Trust (EOT) scheme in 2021, a deal which marked a major milestone for Paramount after a period of sustained growth.

The company is well known across Wales and England where it has created high-quality inspirational space for a number of leading companies. These include the multi-million-pound redevelopment of Hodge House and Fusion Point One in central Cardiff, and the fit out of Par 59 bars in South Wales and South West.

Over the next few months, Paramount’s construction team will also be completing on a multi-million-pound social housing development in Porthcawl, Mid-Glamorgan with Valleys to Coast.

Business

Welsh Secretary commends growth of medical device company IQ Endoscopes

Published

7 hours ago

April 25, 2024

Tom Sinclair

THE Secretary of State for Wales, David TC Davies, has commended IQ Endoscopes for the clear progress it is making on its ambitious growth journey and the value it is bringing to the local economy.

The Cabinet Minister turned the spotlight on the impact of private equity investment and venture capital following a fact-finding mission to the medical device manufacturer’s Chepstow HQ in South Wales.

The visit was organised by the British Private Equity and Venture Capital Association (BVCA), whose members, BGF – one of the largest and most experienced investors in the UK and Ireland – and the Development Bank of Wales, alongside a consortium of existing investors, boosted IQ Endoscopes’ expansion with a £5.2 million investment in 2022.

Mr Davies, the MP for Monmouth, commented: “IQ Endoscopes is an outstanding example of how a business can excel with the right support and investment, which has allowed the team to innovate, grow, create jobs and bring value to the community.

“IQ Endoscopes is a fantastic company on the brink of an extraordinary achievement as they push the boundaries of medical technology, but these pioneers could not have turned their bold vision into reality without the backing of BGF and Development Bank of Wales.”

Tim Rea, head of early stage investments at BGF, said: “IQ Endoscopes has been able to generate a great deal of momentum to date as the team navigates its way towards launching a truly innovative technology which will help ease the strain on our healthcare system and improve patient outcomes worldwide.

“We’re proud to support IQ Endoscopes, providing strategic guidance and funding at a crucial stage of the company’s journey.”

IQ Endoscopes has created a single-use endoscopy device which is not only cost-effective and scalable but also sustainable and has the potential to revolutionise early diagnosis of a range of cancers and gastro-intestinal conditions.

Matt Ginn, IQ Endoscopes Chief Executive Officer, said: “IQ Endoscopes has undergone rapid acceleration. Funds from our 2022 investment have enabled my team to focus on market access strategy ahead of product launch.

“We’re now pushing forward at speed to develop a device which will soon transform the way patients undergo vital treatments and procedures, as well as boosting the economy with up to 100 new jobs.

“To support this growth, we’re looking to raise further investment in the near future and as such, we’re keen to explore interest from further UK venture sources.”

Michael Moore, British Private Equity and Capital Venture Association Chief Executive, added: “We were delighted to arrange for the Welsh Secretary to visit IQ Endoscopes and demonstrate the real impact that private capital has in small and innovative businesses up and down the country.

“In 2022, 27.5bn was invested by private capital into UK businesses in sectors across the UK economy, ranging from consumer products to emerging technology. There are over 12,000 UK companies backed by private capital which currently employ over 2.2 million people in the UK. A majority of the businesses backed are outside London and 90% of the businesses receiving investment are small and medium-sized businesses.”

Dr Richard Thompson, Senior Investment Executive at the Development Bank of Wales, said: “We’ve worked closely with IQ Endoscopes since our initial investment in 2020 attracted them to Wales. Having secured regulatory approval in the UK and US, they’re making significant progress.

“The company is one of many that is helping to position Wales at the forefront of the health-tech sector and we’re proud to be playing a part in their global success story. We’re looking forward to the difference their technology can make to help patients and to reduce the NHS waiting times for endoscopy services.”

Business

Welsh food and drink businesses leading the way with employee satisfaction

Published

7 hours ago

April 25, 2024

Tom Sinclair

A RECENT survey has revealed that Welsh medium sized businesses in the food and drink sector are performing above national and global averages in terms of employee satisfaction.

The Welsh Government’s Food & Drink Insight Programme, in partnership with Sgiliau Bwyd a Diod Cymru / Food & Drink Skills Wales, commissioned and carried out the survey which delved into various areas of the workplace including job satisfaction, wellbeing, organisational culture, management feedback, facilities, training and employee engagement.

The survey’s findings were notably positive, including Welsh businesses achieving an engagement score of 73%, surpassing the industry average of 71%. For the purpose of the research, engagement is defined as the involvement and enthusiasm of employees in their work, with engaged and happy employees being more productive and profitable.

Additionally, a significant 81% of respondents agreed that living in Wales enhances their quality of life and work-life balance, with the ease of accessing nature outside of work hours scoring highly as one the factors for this.

For the newly-appointed Welsh Government Cabinet Secretary for Climate Change and Rural Affairs, Huw Irranca-Davies MS, the survey’s findings are very encouraging and shows that Wales is an attractive location for food and drink businesses.

He said, “We are thrilled with the results of this survey, which show that Welsh food and drink businesses are leading the way in terms of employee satisfaction.

“The Welsh Government is committed to initiatives that bolster the food and drink sector and contribute to employee wellbeing. The insights from this survey are instrumental in fostering continuous improvement areas and skills development.”

The Food & Drink Skills Wales project has been a key partner in the work, with the project planning, and the intention to use the findings to help improve skills development within the food industry.

Nerys Davies from Sgiliau Bwyd a Diod Cymru / Food & Drink Skills Wales said, “We are thrilled with the results of the survey, which shows that Welsh food and drink businesses are leading the way in terms of employee satisfaction.

“However, while the results are extremely positive it also serves as an invaluable tool in helping us identify key areas for improvement and gaps in skills provision. The Food & Drink Skills Wales programme looks forward to working with businesses and partners to support the industry become an even better place to work.”

Explaining why they took part in the survey, Osian Deiniol of Llanrwst-based Blas ar Fwyd said, “We were keen to take part in this survey, as we believe that employee satisfaction plays an important role in the success of a business.

“It’s great to see the industry in Wales is on the right track, but just as important is the fact that the survey also provides us with valuable insights into how we can continue to improve and develop as a good employer. We look forward to working with Food & Drink Skills Wales on these areas over the coming months.”

Meanwhile, reflecting on the findings Doreen Donovan from WorkL, who conducted the survey said, “Our interviews with the businesses showed that people who choose a career in Welsh food and drink are, on the whole, very satisfied with their work, with the scores exceeding global averages.

“The engagement score was particularly positive, which is very good news for businesses as research consistently shows that companies with employees who are more engaged are typically more successful and profitable.”

For more information about the Sgiliau Bwyd a Diod Cymru / Food & Drink Skills Wales project, visit https://menterabusnes.cymru/food-and-drink-skills-wales/