Economic Intelligence Wales

Quarterly, annual and bespoke reports on the Welsh economy

  • Tracking the supply of, and demand for, finance across Wales
  • Improving the understanding of SMEs and their role within the Welsh economy
  • Creating innovative ways of measuring, interpreting and tracking SME data
  • Identifying and addressing Welsh SME finance data gaps
  • Improving the understanding of the Development Bank of Wales’ wider economic impact

 

Stakeholders

Economic Intelligence Wales is a unique collaboration between the Development Bank of Wales, Cardiff Business School and the Office for National Statistics (ONS).

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Cardiff Business School leads on producing the research outputs utilising data from the ONS, StatsWales, the Development Bank of Wales and other data sources. Representatives from the three organisations form the Economic Intelligence Wales Steering Group which reviews and approves research outputs for publication.

 

"I see Economic Intelligence Wales as a strategic national asset and a key mechanism that can help shape future policy development within the arena of access to finance."

Minister for Economy and Transport, Ken Skates

 


 

Our latest report

Medium-sized firms and Welsh business structure, November 2019

Produced by Cardiff Business School for Economic Intelligence Wales (EIW), this report examines business structure in Wales and the role of medium-sized firms in particular. This focus was motivated by previous studies that have suggested that there might be a ‘missing middle’ in Wales.

Some of the notable findings identified in the Medium-sized firms and Welsh business structure report include:

  • There is no optimal business structure. Importantly, definitions of dividing lines between small, medium and large firms are heavily contested.
  • In terms of medium-sized firm share of business count, employment and output, Wales performs relatively well compared to the UK as a whole.
  • There are productivity gaps between Welsh and UK SMEs in all sized bands but the micro and medium-sized firms Welsh production industry outperform UK turnover per employee.
  • Whilst there has been relatively strong growth in turnover for Welsh medium-sized firms, this was concentrated in a small number of enterprises, with a larger number having low or negative growth.
  • Business dynamism in Wales is influenced by low growth ambition in SMEs, structural issues and historic factors.
  • Intervention in the Welsh economy should focus on productivity growth and innovation irrespective of firm size.
  • The report reveals that issues of definition of medium-sized firms make analysis problematic.
  • There could be important differences according to the control locus of medium-sized firms in Wales.
  • Differences in the economic characteristics of medium-sized firms controlled from within Wales as opposed to those with activity in Wales but being headquartered elsewhere, could be important.
  • The report outlines the important data issues that need to be considered in the analysis of the business population in Wales, as a larger number of medium-sized firms have significant operations in Wales but are registered elsewhere.

Download the report by clicking on the link below.

Medium-sized firms and Welsh business structure, November 2019

Quarterly and annual reports on SME finance in Wales

This is the first EIW quarterly report (QR) for the 2019/20 financial year. QR1 builds on and expands the baseline picture of Welsh SME activity established in the QRs of the previous financial year. In this period of heightened uncertainty, understanding how the Welsh economy and its SMEs are uniquely affected is increasingly important. The report finds that small firms in Wales remain confident despite turnover for SMEs having dropped by 2.4% between 2013 and 2018.

A summary infographic for the October 2019 quarterly report can be accessed below.

EIW Quarterly Report October 2019

Summary infographic

This is the first Economic Intelligence Wales Annual Report. This report develops and expands the baseline picture of Welsh SME activity established in the first three quarterly reports of 2018/19. It finds that over the last year, indicators of economic health are presenting conflicting messages. Despite a sharp 20% decline of micro business turnover in Wales captured in EIW QR3 and the recent increase in High risk credit ratings, Welsh SME confidence levels and the proportion of SMEs making use of external finance remain higher than the UK averages.

A summary infographic for the August 2019 annual report can be accessed below.

Annual Report August 2019

Summary infographic

Third in the 2018/19 series of quarterly reports produced by Cardiff Business School for Economic Intelligence Wales. QR3 builds on and expands the baseline picture of Welsh SME activity established in QR1 (June 2018) and QR2 (November 2018).

EIW Quarterly Report March 2019

This is the second in a quarterly series of Economic Intelligence Wales (EIW) reports by Cardiff Business School examining key SME trends in the Welsh economy, particularly in respect to the demand and supply for finance provision.

EIW Quarterly Report November 2018

This is the first in a quarterly series of Economic Intelligence Wales (EIW) reports by Cardiff Business School examining key SME trends in the Welsh economy, particularly in respect to the demand and supply for finance provision.

A summary infographic for the June 2018 quarterly report can be accessed below.

EIW Quarterly Report June 2018

Summary infographic

Bespoke reports

This report examines business structure in Wales and the role of medium-sized firms in particular. This focus was motivated by previous studies that have suggested that there might be a ‘missing middle’ in Wales. The report focuses on the importance of medium-sized firms in the Welsh economy compared to other economies. It also identifies issues with SME dynamism in Wales.

A summary infographic for the Medium-sized firms and Welsh business structure 2019 report can be accessed below.

Medium-sized firms and Welsh business structure, November 2019

Summary infographic

The report examines SME access to equity finance in Wales, and the extent to which Cardiff is a developing equity cluster, in order to potentially develop more clusters across Wales.  The bespoke report considers the definition of equity clusters, and combines a review of data with consultations with leaders in financial services. The report reveals a number of strengths, weaknesses, opportunities and threats for the growth of SME equity finance in Wales.

A summary infographic for the Equity Clusters in Wales 2019 report can be accessed below.

Equity Clusters in Wales, April 2019

Summary infographic

This report is focused on Welsh supply and demand for export finance amongst small and medium-sized enterprises (SMEs). The report examines the role of export finance for SMEs, and includes the findings from an Export Finance Survey of over 500 Welsh SMEs undertaken in November/December 2018, exploring SME export activity, intentions, finance needs and exporting constraints.

A summary infographic for the February 2019 quarterly report can be accessed below.

EIW Export Finance in Wales, February 2019

Summary infographic

Contact us

Economic Intelligence Wales is keen to encourage ideas, feedback and collaboration.

If you have any queries or feedback relating to specific Economic Intelligence Wales research outputs contact us.

If you are a University or independent research body that would like to collaborate with Economic Intelligence Wales please send us your details and a brief overview of the proposed research project.

 

Privacy notice

Under data protection law we must have a valid legal basis for collecting and using your personal information. When you contact us for more information about our products or services, we believe that we have a legitimate interest in being able to respond fully to your enquiry. Your personal data will only be used to respond to your query. For more information, see section two of our privacy notice.