The business organisation has published its Senedd Election manifesto
IoD Wales chair Richard Selby.(Image: )
The next Welsh Government needs to focus on addressing skills shortages and infrastructure that supports economic growth and development, underpinned by creating a pro-business environment, say business membership body IoD Wales.
In its manifesto ahead of the Senedd Election in May has been shaped its State of the Nation survey, which highlights the challenges facing businesses. Skills shortages remain the top concern for organisations in Wales (39%), followed by policy uncertainty (36%) and the rising cost of labour and materials (29%) – pressures that risk constraining investment, productivity and growth if left unaddressed.
To unlock Wales’ economic potential, the manifesto calls on the next Welsh Government to:
- Simplify access to business support, improving the visibility of advice and funding, and investing in infrastructure that directly supports economic development and cross-sector connectivity across Wales;
- Embed skills development at every stage, from education and vocational pathways through to lifelong learning and professional development for directors, to address current and future skills gaps; and
- Provide greater long-term certainty, aligning investment with sectors where Wales has clear strengths and adopting a more place-based approach to economic development.
The manifesto also highlights the importance of cross-border collaboration. It says: “Our members tell us that they see huge benefits from greater cross-border collaboration, in particular, between Wales and England, We believe increased collaboration at all levels of government could lead to better utilisation of resources, such as shared data and research networks.”
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IoD Wales said that strengthened leadership, governance and accountability are key pillars for building resilience, with high-level training playing a vital role in raising standards across all Welsh businesses.
The manifesto adds: “Investment in exceptional governance and leadership will provide the bedrock on which to build the future of Wales. This should include the practical skills required for day-to-day delivery, alongside entrepreneurial innovation, vision and resilience.”
It said the potential and ambition of Welsh businesses now needs to be matched by a “confident and courageous” next Welsh Government with a focus on “a pro-business environment across Wales that encourages entrepreneurship, innovation and investment.”
Chair of IoD Wales and co-founder of Caldicot-based Pro Steel Engineering, Richard Selby, said:“We are launching this manifesto at a pivotal moment for Wales. With major economic choices ahead, the next Welsh Government must focus on creating a genuinely pro-business environment that supports entrepreneurship, encourages innovation and attracts investment across all parts of Wales.
“This manifesto sets out a positive and practical vision for how collaboration, strong governance and responsible leadership can help unlock sustainable growth.”
Marc Strathie, senior policy advisor, devolved nations at the IoD, added: “This manifesto reflects extensive engagement with out members and the real challenges facing Welsh businesses – from persistent skills shortages to ongoing policy uncertainty.
“It sets out practical, deliverable recommendations, and directors across Wales stand ready to play their part in building a more confident, enterprising and prosperous nation.”
