In a speech given to a conference held in Cardiff for local bookkeepers on 5th May, Chambers Wales South East, South West and Mid’s President, Paul Slevin predicted a positive economic outlook for businesses in Wales.
Speaking to the members of the Institute of Certified Bookkeepers (ICB) last week, Mr Slevin spoke about the unexpected resilience of Welsh businesses during the pandemic. He put its buoyancy and survival down to the £3 billion of additional support provided by the Welsh Government.
Mr Slevin warned that now was no time for complacency for policymakers and businesses alike, and he predicted that the Welsh economy would start to feel the effects of increases in prices of commodities as a result of the war in Ukraine and the consequences of Brexit.
The Chamber President also pointed to an inability for Welsh businesses to access skilled staff as a real bar to growth. He pledged:
“Chambers Wales will continue to represent Welsh businesses at the very highest levels of both the UK and Welsh governments, ensuring they get the support they need to access the skills, capital and legislative framework to grow.
He went on to stress that in uncertain times, financial management was key to ensuring the success of businesses:
“Knowing your business’ figures is a key part of business viability and can prevent insolvency. ICB Bookkeepers are qualified, regulated and certified to support businesses in providing that oversight. You can’t get better than that.”
Nicola Payne MICB, Wales Branch Chair of ICB said:
“With a recession predicted to be on the horizon, it is more important than ever for our clients to understand their numbers . We have the skills and close relationship with them to help them navigate these difficult times, and help their businesses not only to survive, but thrive”