Chief Executive calls for joint working to support Welsh foundational economy

The Chief Executive of Adra Housing Association has called for a co-ordinated approach to support small and medium sized businesses – the backbone of Welsh communities.

Giving evidence to the Economy, Trade and Rural Affairs Committee on Wednesday (16 October), Iwan Trefor Jones spoke of the need for the long term economic strategy for Wales to provide a greater focus on the foundational economy and offer clarity for sectors such as housing and decarbonisation.

The foundational economy is the part of the economy that provides the goods and services that are essential for people’s everyday lives and includes sectors such as construction, social care and agriculture.

Iwan took part in the discussion as a large percentage of our tenants are employed in these sectors and the foundational economu is relevant to the communities that we serve.

Iwan Trefor Jones, said: “It was an honour to give evidence before the Committee and to share our thoughts on developing the foundational economy, which employs around 40% of the Welsh workforce.

“We need to strike the right balance between high growth and high-tech sectors and the foundational economy sectors in Wales. They are all equally as important and have a direct impact on the lives of a significant percentage of the population.

“A great amount of work is already going on in social housing, with policies such as the drive for 20,000 new social homes and the Welsh Housing Quality Standards contributing to the growth of the sector and its supply chains.

“Initiatives such as Tŷ Gwyrddfai, our flagship decarbonisation hub in Penygroes which we’ve developed with our partners Grŵp Llandrillo Menai and Bangor University is a prime example of successful collaboration between government and private investment. We are also proud of our Academi Adra programme which offers opportunities to develop skills and access training and apprenticeship opportunities.

“There are also examples of projects to strengthen the approach to procurement, such as Ffrâm24 (the All Wales materials framework) and the Arfor programme to support local supply chains and economic interventions in rural Wales. The new Procurement Act will also focus on local supply chains and achieving greater social value through contracts.

“Whilst there are many initiatives to celebrate, we do need greater clarity and certainty to make sure these sectors continue to see investment and growth from Welsh Government, including funding for apprenticeships, training and support for SMEs working in the sector. This would,  in turn will help communities right across Wales to thrive and prosper”.