People to Premises: The Real Challenges Facing Welsh Businesses Today

Business News Wales

a day ago

Over the past 15 years, I've worked with hundreds of businesses across Wales at every stage of their journey, from start-ups with big ideas to long-established firms looking to take that next bold step forward.
No matter the sector or size, the same themes come up time and time again. Growth is rarely about a single breakthrough moment. More often, it's about navigating a series of very real, very human challenges and finding the right support at the right time to overcome them.
I work for Business in Focus and in my role as a Relationship Manager delivering on the Welsh Government's Business Wales service, we help businesses to unlock their potential, whether that's through guidance on funding, strategic advice, or just being a sounding board when decisions feel overwhelming. But what's really striking, after more than a decade in business support, is that the core challenges businesses face haven't changed all that much.
The first is people. Recruiting and retaining the right staff is consistently one of the biggest hurdles. Skills shortages in key industries, changing expectations around work-life balance, and the pressure of competing with larger firms make it hard for small and medium-sized businesses to build the teams they need. And when you can't find the right people, or keep them, it slows everything else down. We work with businesses to help them think differently about talent, improve their employment offer, and find ways to connect with local pipelines and skills initiatives.
For a long time, the biggest issue after people was always finance. Accessing growth capital, particularly at reasonable rates or with the right repayment terms, was often the missing piece. Thankfully, things have evolved. We now have a broader funding landscape in Wales, with support from the Development Bank of Wales, UK Government funding, and other private and public options. That said, it can still be daunting to navigate, and that's where Business Wales makes a big difference by helping businesses understand their funding options, get investor-ready, and apply with confidence.
But in the past few years, a new challenge has overtaken finance as the number one concern I hear from businesses, and that's property. Right now, the single biggest barrier to growth for many Welsh businesses is the lack of available commercial space.
It's not just about affordability; it's about availability. Businesses ready to expand, recruit, and increase output are struggling to find units, offices, or industrial premises that meet their needs.
I've worked with businesses occupying multiple smaller units because there simply wasn't a single suitable building available. In one recent case, a company using four separate units is in the final stage of funding to build a custom facility, thanks to the right support, they hope to be able to grow and scale on their own terms. Even better, those four units should then be freed up for other growing businesses. That's the kind of knock-on effect we need more of if we want Wales' economy to thrive.
Through our work delivering the Business Wales service, my colleagues and I take pride in playing a part in these success stories. Our job is to sit down with business owners, understand their goals, and work with them to identify barriers and solutions. Every business journey is different, but the challenges are often shared. And so is the support.
Wales is full of businesses with extraordinary potential. But potential alone isn't enough. You need the infrastructure, the networks, the advice, and the confidence to act. If your business is ready to grow or just needs a fresh pair of eyes to help figure out what's next—reach out to Business Wales. Business Wales is here to help and will support you every step of the way.