Written question WQ95110
- Asked by
- Gareth DaviesConservative
- To be answered by
- Cabinet Secretary for Economy, Energy and Planning
- Tabled
- Due
- Answered
- Time to answer
- 5 days
Question
How does the Welsh Government target areas with high rates of business insolvency for additional support?
Answer
Answered by Cabinet Secretary for Economy, Energy and Planning
We do not currently track business insolvency rates in Wales due to limited data availability. We do however monitor business demography statistics for enterprises in Wales (business numbers/births/deaths) which are published on our website here although their reliability decreases when looked at on a lower geographical basis than the Wales level.
Business Wales is available to provide information, guidance and support to businesses facing closure, or supply chain businesses impacted. Their advisers can support businesses on all aspects of their operation including financial review of the impact, HR, employment and plans for diversification, support on the supply chain and identifying alternative markets.
It can also provide support for individuals facing redundancy should they wish to consider self-employment or start their own business and can provide information, advice and guidance on starting a business, as well as accessing business finance, to make contact via the 03000 6 03000 Business Wales helpline or www.businesswales.gov.wales.