Supporting our Businesses

The small business sector is the backbone of the Welsh economy. We want to support economic conditions in which Wales develops its own range of locally owned medium sized companies, which further develop Welsh supply chains and investment: retaining value created within the Welsh economy and leading to improved employment opportunities in high quality, high paying jobs.

We support the reform in Wales of Non-Domestic Rates, also known as Business Rates, in order to establish a system which better supports our small businesses.

We would reverse the reductions in support to small businesses as a result of Labour Welsh Government cuts this year, and amend the multiplier to better support high street business, such as retail and hospitality.

Procurement is an important part of the Welsh economy, creating additional jobs through the supply chain. We will work towards a target of 75% of Welsh public sector spend being with companies located in Wales, recognising that this promotes investment in quality goods within Wales and higher employment skills. We will consider the obstacles that exist in reaching this target, e.g. the size of contracts or opportunities for Welsh companies to bid effectively.

Recognising the success of the Basque Mondragon co-operative, Plaid Cymru will promote co-operative, employee and community ownership models. This may be particularly appropriate in communities where private capital appears unwilling to invest but where services are locally valued and important. Equally, in sectors which are still establishing themselves, such as green industries, community ownership models may become the default investment model in Wales, rather than relying on extractive private capital from outside.