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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

Briefing Bespoke Report - Business Succession in Wales, May 2020  

Business succession in Wales has been described as a ‘ticking timebomb’. Economic Intelligence Wales is launching a project to look deeper into this issue, with this briefing giving an initial overview as a prelude to future research.  

Some of the notable findings identified in the Briefing include:  

  • Modes of business succession are varied. 
  • Examining business succession is made difficult because much existing data only covers a small proportion of the business succession events occurring in the economy. It is likely that succession events in small and family owned enterprises simply fall under the radar of official statistical data collection. 
  • UK figures from the ONS Small Business Survey show that in 2018, 4% of surveyed SMEs saw an ownership structure change. 
  • Among SMEs it is firms of larger employment size that are more likely to see a change in ownership structure in a given year. 
  • The ONS Small Business Survey also reveals variation in business transfer rates by sector.  In 2018, for example, professional services (8%) and manufacturing (7%) had the highest SME succession rates. 
  • Among the devolved regions, Wales appears to have relatively low business transfer rates. 
  • 70% of SME ownership changes in Wales result from acquisition. Management buy-out/buy-ins account for 23% of deals in Wales.  
  • 53% of SME ownership transfer cases involved Welsh SMEs being taken over by either rest of UK or overseas firms.  

Download the report by clicking on the link below. 

Business Succession in Wales, May 2020 

Quarterly and annual reports on SME finance in Wales

QR3 was finalised at the end of March 2020. Through March 2020, the economic impacts of Coronavirus were starting to be felt in the Welsh and UK economy. The pandemic problem comes on top of the economic impacts caused by widespread flooding after Storms Ciara and Dennis. This QR3 2019/20 also comes in the aftermath of the UK’s departure from the EU and the beginning of the transition period.  

EIW Quarterly Report April 2020

This is the second EIW quarterly report (QR) for the 2019/20 financial year. QR2 builds on and expands the baseline picture of Welsh SME activity established in the QRs of the previous financial year. The new decade sees some reduction in economic and political uncertainty as a result of the General Election outcome. The report finds that Welsh SME confidence is no longer a positive outlier for the UK and has dropped significantly.

A summary infographic for the February 2020 quarterly report can be accessed below.

EIW Quarterly Report February 2020

Summary infographic 

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

Business succession in Wales has been described as a ‘ticking timebomb’. Economic Intelligence Wales is launching a project to look deeper into this issue, with this briefing giving an initial overview as a prelude to future research.  

Business Succession in Wales, May 2020

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.

 

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