Barclays is launching a new Regional Board for Wales to strengthen its support for growth across the country, as research from Barclays Eagle Labs and Beauhurst highlights Cardiff’s concentration of high-growth businesses and the importance of connecting regional firms with the capital they need to scale.
The new research identifies Cardiff (seventh) among the top ten UK cities that outperform relative to the size of their local business populations for their concentration of high-growth companies. The findings underline the city’s place in the UK’s growth landscape, while the wider analysis highlights the challenge of helping businesses translate early momentum into sustained growth through follow-on investment. However, the national research finds that the number of active high-growth companies yet to secure a second equity round within the typical timeframe for Cardiff could increase by 76 per cent by 2035, highlighting the need for continued support and innovation.
New Board to help deliver on Wales’ potential
A new Board for Wales, chaired by Greer Hooper, Head of Mid-Corporate Wales for Barclays, will connect leaders from across the bank to translate these sectoral strengths into sustained growth. Part of a wider network of Regional Leadership Boards formed under Barclays’ Backing Britain’s Future work, they will help deliver better against the 1.5 million target, including making £22 billion available through a Business Prosperity Fund for eligible new and existing clients seeking lending or refinancing for growth projects.
The Board launches at a pivotal moment for Wales. By bringing Barclays’ regional insight and capabilities together, the Board will seek to help businesses engage with the investment, supply-chain and growth opportunities created by projects of this scale.
Greer Hooper, Chair of the Wales Board, said:
“Wales is exceptional for its range of strengths. From compound semiconductors, advanced manufacturing and aerospace to renewable energy, life sciences, financial and professional services, the creative industries and a thriving visitor economy, Wales has the foundations for long-term growth. It is also home to major opportunities, from the Celtic and Anglesey Freeports to floating offshore wind in the Celtic Sea, that can reshape connectivity, unlock investment and create opportunities for local supply chains. Our new Board will bring together the full breadth of Barclays so that we are better connected to Welsh priorities, more visible to the businesses and communities we serve, and better able to support sustainable growth across Wales.”
