Tag Archives: Chambers Wales

Business, South Wales

Chamber welcomes Thomas Carroll as latest partner

Chambers Wales South East, South West and Mid has announced that Thomas Carroll has upgraded its membership status to become the business organisation’s latest corporate partner.

Thomas Carroll, established in 1972, is an independent, employee-owned business that provides organisations and individuals with risk management, insurance, wealth management and people services.

With offices in Caerphilly, Swansea, Pembrokeshire, Hereford, Newport, London, and Bristol, it combines national capability with local presence to achieve its goal of being there when it counts for its clients, colleagues and communities. In 2023, the firm became an Employee Ownership Trust, a move reflecting its long-term thinking and puts the future of the business firmly in its employees’ hands.

The partnership symbolises Thomas Carroll’s determination in supporting the local business community by working alongside other ambitious, forward-thinking organisations who are invested in making a difference.

Through this partnership, the Chamber will provide Thomas Carroll with a platform to support members with tailored risk management solutions that give businesses and individuals peace of mind and reach businesses who may not realise the breadth of support available. The partnership operates as a two-way system, creating opportunities for shared insight, collaboration and resilience.

Rhys Thomas, Chief Executive of Thomas Carroll Group, said: “We’ve always believed that the strongest businesses are those that are deeply connected to their local communities. Becoming a partner of the Chamber was a natural extension of this belief.

“Being a partner is more than networking; it’s about contributing to a community where businesses support each other to grow, succeed and stay resilient. We’re proud to play our part, sharing our expertise and building connections that make a real difference.”

Penny Lock, Director of Partnerships and Business Development at Chambers Wales South East, South West and Mid, said: “We are delighted to introduce Thomas Carroll as our latest corporate partner. Being longstanding members of the Chamber, we are confident that this partnership will go on to enhance their business goals while bolstering the opportunities available for our members to access expert insurance services.

“Becoming a Chamber partner provides Thomas Carroll with a valuable space to listen and understand the challenges that businesses face and adapt and innovate their services to meet the needs of the business community. Together with the Chamber’s other partners, we are creating an environment where businesses of all sizes can thrive and be successful.”

Business, Business Advice, Business Finance, Economy & Jobs News, Politics, South Wales

Chambers Wales South East, South West and Mid comments on Spring Statement 2025

Gus Williams, interim CEO at Chambers Wales South East, South West and Mid, said:

“As expected, there was not much in terms of new announcements in the Chancellor’s Spring Statement today. The OBR forecasts highlight economic concerns already familiar to most businesses in Wales. Inflation concerns have not yet disappeared and there are worries about business and consumer confidence.

“Infrastructure and housing falls within the remit of the Welsh Government and like the rest of the UK, Welsh businesses support the prioritisation of simplifying the planning system but are keen to see the proof of this with spades in the ground. The industrial strategy and increased defence spending we hope will have a positive impact in Wales where the manufacturing and defence industries have a significant presence. Infrastructure investments are proven to boost economic investment, and channelling more spending out of the civil service and directly into infrastructure and increasing the amount of funding available to Wales is also welcome, providing the right projects are chosen.

“It is difficult to see any significant improvement in confidence and investment driving economic growth without capital investment led by the government. The government remains bound by fiscal rules that I would argue ignore the economic impact of borrowing to fund capital investments. Part of the problem has been the lack of any robust return on investment analysis on government spending.

“Consumer confidence remains hamstrung by a two-tier economy. The success of healthcare, welfare, and employment reforms will hang on whether they manage to improve overall employment and wage growth; this will be a big test over the next 12 months. The government has been clear that this is how it expects to be judged in the long term.

“Business owners are facing significant headwinds, the full impact of which we are yet to see. The economy could break out of these headwinds but the government will need to lead the way – just cutting spending will not change much, reform needs to achieve change.

“Global trade remains the government’s other major challenge. At the moment the government is trying to balance its relationship with the US and EU and whether events will force them off the fence one way or another remains to be seen. With domestic demand static, growth may be dependent on how the global trade environment now evolves.”

Business, Business Finance, Business Investment, Business News

Impact of Budget announcements felt by Welsh business in Q4

Employment measures announced in the Autumn Budget may have affected attitudes to recruitment by businesses in Wales in Q4 of 2024, according to Chambers Wales South East, South West and Mid’s latest Quarterly Economic Survey.

17% of businesses in Wales increased the size of their workforce over the last three months and 17% also expected their workforce to increase in the next quarter. While over half of the businesses surveyed (59%) expect the size of their workforce to remain constant in the next three months, there was a rise in the number of respondents who foresee that their workforce will decrease, from 15% in Q3 to 24% in Q4.

Fewer businesses in Wales attempted to recruit during the final quarter of the year than in Q3. Of those who did recruit in Q4, 65% experienced difficulties especially when recruiting for professional, managerial, skilled manual and technical roles.

The latest edition of the Quarterly Economic Survey also included questions specific to measures announced in the Budget such as the proposed increase to the National Minimum Wage and National Living Wage from April and whether the changes would impact businesses’ staffing plans, particularly in relation to hiring young people such as graduates, school and college leavers.

Around half of the respondents revealed that the increases to £10 and £12.21 an hour for the minimum wage and living wage respectively would not affect their business. Other businesses in Wales suggested that they would have to either halt recruitment plans, approach recruitment with caution or increase the prices of their services.

Businesses also expressed their hesitation to hire young people, with many reducing the numbers they plan to recruit in 2025.

Gus Williams, interim CEO at Chambers Wales South East, South West and Mid, said: “Taxation has become the external factor causing the most concern for businesses in Wales and the measures announced in the Budget such as the increase to employers’ national insurance contributions, combined with rising labour costs and changes to employee rights, have not surprisingly driven those concerns.

“Our Quarterly Economic Surveys show that recruitment remains a persistent challenge for businesses in Wales, and this continued in Q4 with a rise in the number of firms expecting their workforce to decrease and fewer investing in training. One of the impacts of the tax and National Minimum Wage increases looks to be a reduction in expected entry level recruitment this year.

“As businesses review their budget planning in preparation for upcoming changes, more support is needed to tackle barriers to growth such as access to skills development and learning pathways to help companies attract and retain talent with the right skills for their sectors.”