Election Manifestos in Wales 2021 – How Does It Get Small Businesses?

Most political parties in Wales have plans to support small businesses

With elections coming up on May 6th, let’s take a closer look at manifestos to help you decide who to vote for.

For those of you in Wales, here is a summary of each party’s election promises aimed at small business owners.

job

  • Master plans are drawn up for cities and major streets, including a registry of empty buildings and small businesses to help them move to empty stores
  • Protect more than 165,000 jobs by offering the most generous business support program in the UK
  • Use the £ 500m Wales Flexible Investment Fund to support economic recovery and expand the Development Bank of Wales’ patient equity funds to provide long-term loans to small and medium-sized businesses, entrepreneurs and startups. Increase the stake in corporate support stakes. Secure the creation of a Community Bank for Wales that will grow with you and have 30 branches across Wales over the next ten years
  • Develop a Backing Local Firms Fund to support local businesses. Provide greater support for employee takeovers and try with the cooperative sector to double the number of employee-owned companies
  • If you change the way people work instead of commuting to the office every day, a 30 percent goal for remote work will be targeted for better work-life balance. Develop new remote working hubs in communities, increase visitor frequency and create new opportunities in city centers
  • Helping Welsh businesses find new export markets and create new jobs
  • Create 125,000 apprenticeships for all ages in the next Senedd semester. Work with unions and employers to expand the use of shared and graduate apprenticeships and give people more flexible pathways into education and careers

Conservative

  • The manifest promises a “covid bounce-back” package that includes a £ 2.5 billion mutual fund and maintains the VAT cut for tourism businesses to 5 percent through April 2022
  • Founding of the business development agency ‘Innovate Wales’ in North Wales
  • Eliminate business rates for small businesses
  • Give Welsh companies priority for government contracts
  • Check urgently and start funding business immediately as needed
  • Support new micro-businesses with the “start-up program” and pay the employer’s social security
    Contributions from two new employees for two years to accelerate growth
  • Established ‘Innovate Wales’ based in North Wales, a one-stop-shop for business to support new businesses and encourage existing businesses to grow and export
  • Create Business Rate Free Zones that offer SMBs a three-year Business Rate Holiday under the Covid Community Recovery Fund
  • Help Welsh businesses recover from the pandemic by giving them priority in government contracts by proactively promoting opportunities, especially for micro and small businesses
  • Support rural businesses and enable more people to work from home by removing black spots on cell phones and broadband, removing barriers to network improvement and creating a £ 50 million emergency spot fund
  • Offer 150,000 apprenticeships by 2026

Plaid Cymru

  • Interest-free loans to help small businesses recover from Covid
  • Super fast broadband will be available for every property and business in Wales
  • Expand the role of the Development Bank of Wales and help create a Community Bank to help domestic businesses grow their market share
  • Develop a strategy to scale existing businesses with high growth potential
  • Establish a corporate succession program and provide adequate financial support to maintain Welsh ownership of successful businesses, with a particular focus on expanding the number of employee-owned businesses
  • Develop public distribution systems so that small and medium-sized businesses are no longer barred from market access (where this is monopolized by supermarkets, large retailers, and online platforms like Amazon or Uber) and can sell directly to consumers
  • Establish an investment strategy for small and medium-sized businesses, including interest-free long-term loans with long repayment vacations, restart loans, repayment and recovery loans, and new deals for early stage and growth companies
  • Invest in a new community bank to help small businesses and bring local banking services back to customers in the many communities in Wales that have lost their local banks

Liberal Democrats

  • Provide funds to invest in digital connectivity, get buildings back online, invest in infrastructure, and create accessible and welcoming spaces that support jobs, businesses and workers
  • Create a £ 500m fund to help high streets, town centers and small businesses across Wales thrive and adapt
  • Work to remove the barriers businesses in Wales now face when trading European markets
  • Freeze business rates for the life of the next senedd and, in the long run, replace business rates with a fairer, more supportive system
  • Invest in broadband and mobile phone connections to enable businesses to compete better online, including training and support to help businesses move to a new “virtual high street”.
  • Develop a long-term plan to support business and enable small businesses to grow, including the establishment of a recovery council based on real experiences and voices from small businesses across Wales
  • Adoption of a public procurement law under which local authorities must give priority to small local businesses and supply chains, while other rules are made more flexible in order to create more scope for investment in longer-term contracts
  • Make sure that at least 90 percent of households and businesses in Wales have access to full fiber broadband over the next five years

Float

Propel has a contract with Wales instead of a traditional manifesto. The following commitments appear:

  • Creation of eight cooperative banks with a focus on investing in existing and new small and medium-sized local businesses
  • Reindustrialize Wales for the 21st century by focusing on developing sustainable high tech manufacturing for export
  • A new public procurement strategy is adopted to allocate 100 percent of public spending to Welsh companies

Reform UK (formerly The Brexit Party)

Reform UK has a contract with the people of Wales:

  • The party would also abolish business tariffs for small and medium-sized businesses and introduce internet sales tax
  • Help local businesses open on main streets so they can settle down
  • Exempt 1.2 million small businesses and self-employed people from paying corporate taxes

green

  • Make it easier to regenerate main streets and communities with a mix of low rents and prices for existing small businesses and social and environmental startups to fill empty stores and bring our main streets back to life
  • Developing new innovative funds and local banks such as Banc Cambria and social lenders to support start-ups in the social and environmental sectors and to transform existing industries
  • Support critical hardware, software and bandwidth at an affordable cost for easier business and personal communication, as well as local hubs connected to libraries and community settings

Continue reading

Covid-19 Roadmap – When Can I Reopen My Small Business in Wales?

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