Latest news with #SkillsandSocialPartnership

Business News Wales

Investing in Skills is Investing in Wales' Future

In a world where industries are evolving rapidly and technology continues to reshape how we live, learn and work, the most valuable asset we have in Wales is our people. As Minister for Culture, Skills and Social Partnership, I understand how access to the right training at the right time can strengthen businesses, improve job prospects, and support a more resilient economy. I have a very personal insight into how we train the next generation of workers. I am a time-served engineer who trained and worked in advanced manufacturing, and I will always bring this experience to the table when looking at how we support learners and employers. The Flexible Skills Programme is one of the Welsh Government's most effective tools for supporting that ambition. Employers can access up to 50% of the accredited training costs, up to a maximum of £50,000 per application. From digital and cyber skills to engineering, and green technologies, and more, the programme gives Welsh businesses the support and flexibility to choose training that helps them upskill staff, boost retention, and adapt and grow in an ever-changing landscape. We know that these needs are pressing. In early 2025, the British Chambers of Commerce found that one in five firms had reduced their training budgets, citing financial pressures and competing priorities as challenges. These trends are particularly concerning for SMEs, which often face the greatest barriers to upskilling their workforce. By funding up to 50% of the accredited training costs, the Flexible Skills Programme helps ease the financial pressures and unlock new commercial opportunities. For SMEs in particular, this support can be transformative. Over the past two years, the programme has supported more than 8,000 training grants. With increased investment – from £1.3m to over £7.5million this year – even more individuals and businesses will be able to benefit, especially in skill areas that are critical to Wales' future economy and Net Zero goals. And while many Welsh organisations are increasing their focus on green technologies, 45% report lacking the confidence and skills to implement them effectively. This presents a clear opportunity for the Flexible Skills Programme to bridge the gap and equip our workforce with those critical skills. By developing a more capable workforce, businesses can increase productivity, improve efficiency, and boost staff confidence. In turn, this opens up new opportunities for innovation, service development, and market expansion. Broadening your team's capabilities will ensure both your staff and your business are equipped to meet the demands of tomorrow's economy. We've already seen this in action across Wales. Bisley, a Newport-based manufacturer long known for its steel storage solutions, has used the Flexible Skills Programme to support its expansion into wood furniture and digital design. The funding helped upskill staff in new technical areas, boosting agility, leadership, and productivity. With support from Business Wales, Bisley has adapted to changing customer needs, retained talent, and positioned itself for growth. It's a strong example of how investing in people can drive innovation and long-term success. The support also ensures that employees are not left behind as industries evolve. Whether someone is looking to move into a new role, take on more responsibility, or simply stay current in their field of work, having the opportunity to reskill or upskill is crucial. We want to create a workforce that is ready for the future and give businesses the tools they need to help people shape their careers. The Flexible Skills Programme is helping to build a stronger, more inclusive Welsh economy. It addresses the skills gap in our current workforce and supports both businesses and employees to thrive. If you're an employer in Wales looking to strengthen your team, I encourage you to explore what the Flexible Skills Programme can offer. It is a smart investment in your people, your business, and the future of the Welsh economy. Search 'Business Wales Flexible Skills Programme' to find out more.