The next Welsh Government will take office in a very different political landscape. With a larger Senedd and a new proportional voting system, the likelihood is that no single party will hold an outright majority. That brings with it a real opportunity – not only for political leaders to work collaboratively, but for businesses to do the same.

If ever there was a moment for a team approach, this is it. Businesses in Wales have an important story to tell about what matters most to them and what the country needs to thrive. We should speak with a collective voice to the political parties competing for power, and call for collaboration across all sides to put the economy at the centre of national life.

The world spins on successful businesses. Our taxes, our services, our public sector and our hospitals all depend on the strength of the economy. Whatever colour the next Welsh Government may be, it should begin with that simple truth and build its programme for government around it.

Wales is fortunate to have an active, ambitious and well-connected business support ecosystem. Having worked across the UK, I can say with confidence that what we have here is distinct – a model that has evolved through years of partnership between the public and private sectors and that continues to deliver real results for SMEs. Through Business in Focus, we support more than 400 companies with business space, advice and growth services, and we see every day the energy and innovation that exists across the SME community.

The Business Wales service, funded by Welsh Government, remains a flagship element of that landscape. Alongside locally funded initiatives and UK Government-supported programmes, it forms part of a network that supports entrepreneurs to start, grow and sustain their businesses. It is a model that works, and continuity will be vital for whoever takes office next May.

That does not mean standing still. Any future government should look to innovate from within what already exists rather than starting again from scratch. The current landscape, while strong, can at times be complex and difficult to navigate. There is an opportunity to simplify and modernise it, to ensure that support reaches businesses when and where they need it.

The next administration should also take a longer-term view. Too much of the current system is driven by annual funding cycles, forcing organisations to divert valuable time and resources into rebidding for contracts instead of focusing on delivery. Multi-year planning would provide certainty both for providers and for the SMEs who rely on them.

Innovation should be encouraged too. The public sector can sometimes be cautious about change, particularly when it comes to adopting new digital tools. But embracing technology, and drawing on the expertise that already exists within the business support network, will be key to keeping Wales competitive.

The question of certainty matters beyond business support. Entrepreneurs across Wales continue to balance ambition with caution as they navigate higher costs, tighter lending conditions and shifting regulation. They need confidence in the policy environment if they are to plan ahead, invest and grow.

One area where that confidence is being tested is around energy performance standards for business premises. While the goal of improving energy efficiency is understood and supported, the financial implications are significant. For many SMEs, and for the public sector too, the cost of achieving higher standards by 2029 could restrict investment elsewhere. That risk must be recognised and managed if we are to sustain both a growing economy and a greener one.

There will always be difficult choices to make, but those choices must be guided by a long-term economic plan. The businesses we work with think in decades, not election cycles, and they need government to do the same.

Whoever leads Wales after May 2026 will inherit a strong foundation. The task will be to build on it – to place the economy at the heart of decision-making and to work across political lines to deliver growth. That same spirit of collaboration should extend to the business community itself. By forming partnerships, combining our efforts and speaking with one voice, we can help shape an environment where enterprise drives prosperity across Wales.

Phil Jones talks about this and more in the Business in Focus From Startup to Scaleup podcast. Listen here.