Small and medium-sized enterprises (SMEs) in Wales have lots of things to be proud of, including being the most community-focused businesses in the whole of the UK.
This is according to a recent report by The Co-operative Bank, which found that SMEs in Wales are 15 per cent more conscious of helping their local area than anywhere else in Britain.
The findings revealed 83 per cent of Welsh business owners regard their company as being integral to the local community, and as many as two-fifths believed they provided jobs and wealth to local people.
In comparison, just 13 per cent of SMEs in the whole of the UK felt they had a responsibility to provide employment and services to their community, Business News Wales reported.
Donald Kerr, from The Co-operative Bank, said: “Local people will often rely on SMEs in their area, whether it is simply as a customer or indeed as an employee.”
He went on to say: “It’s good that SME owners recognise the impact they have, and we must continue to support local enterprises.”
The bank’s research does not come as a total surprise, as the Welsh government revealed similar findings last year.
It reported that SMEs were responsible for 62 per cent of all employment in Wales, as well as 40 per cent of all turnover.
This could be one of the reasons why the government has committed £26.2 million to start-up businesses and entrepreneurs in Wales.
The news provider previously revealed 2,904 British Business Bank’s Start-Up Loans went to business owners in Wales in a bid to boost enterprise in the country.
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