Barclays forms new board to aid Wales growth
Wales will soon have a dedicated Barclays Regional Board aimed at bolstering economic expansion nationwide. Data from Barclays Eagle Labs and Beauhurst reveals Cardiff’s outsized share of fast-growing enterprises, emphasizing the critical role of financing in helping regional companies achieve long-term scaling.
The new research identifies Cardiff as one of the top ten UK cities that outperform relative to the size of their local business populations for their concentration of high-growth companies. Cardiff ranks seventh in this regard.
The findings show that Cardiff has a significant place in the UK’s economy, with a high number of growing businesses. The wider analysis highlights the challenge of helping businesses translate early momentum into sustained growth through follow-on investment.
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.
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A new Board for Wales, chaired by Greer Hooper, Head of Mid-Corporate Wales for Barclays, will connect leaders from across the bank to build on these sectoral strengths and achieve sustained growth.
The Board 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.
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.”
The new Board will bring together the full breadth of Barclays so that it is better connected to Welsh priorities, more visible to the businesses and communities it serves, and better able to support sustainable growth across Wales.
