Our Enterprise is Serving to Enterprise Throughout the Area

Interview with:

Nigel Griffiths,

Chair of the Enterprise Council,

Cardiff Capital Area. 

Steve McNally and Suzanne Chesterton interview Nigel Griffiths, Chair of the Enterprise Council, Cardiff Capital Area. 

Final week, Nigel Griffiths (newly-appointed chair of Cardiff Capital Area) advised us about his journey from a small mining village within the Swansea valley to a unprecedented enterprise profession that’s seen him construct, lead and handle change in sectors as various as Know-how and Public Broadcasting.

Within the second of our interviews, Nigel shares with us what he thinks he brings to his new function and his evolving ideas on the measurable affect the Enterprise Council could make for companies proper throughout the area ….

“I’m very enthusiastic about making a sensible and sustainable distinction to companies throughout South East Wales and some issues are already starting to turn out to be clear since my appointment in December. The very first thing is that I’m not a company animal who’s right here to theorise – my very own credibility has been constructed on bettering issues and getting issues performed. I perceive the challenges being confronted by SMEs particularly as I’ve been there myself on quite a few events. 2020 was terribly troublesome for a lot of corporations, however out of turmoil comes alternative – and I wish to assist companies seize that chance.

“Constructing additional on the work of the present Enterprise Council”

 “I’m additionally inspired that we are able to construct on the bottom work already performed by the Enterprise Council and evolve nonetheless additional. I’ve already been approached by some distinctive enterprise leaders who’re in large chairs in the intervening time, operating companies with excessive worldwide and native profiles.  These are individuals with busy lives who’re ready to surrender their time to make an actual distinction – and that tells me we are able to add nonetheless additional to the spectacular Board we have already got, bolstering nonetheless additional with key business figures from a various vary of sectors, all of whom wish to assist companies succeed proper throughout the area. I wish to emulate what Frank Holmes has performed on the EGP – getting forward of the curve, regularly enhancing an professional board that’s in a position to speak with authority in regards to the challenges we face and present what we’re doing to attain our targets.

“Seeing the gaps in what we at the moment do to assist enterprise – and what we actually must do”

 “As a result of I ‘get’ the challenges that companies face, I can see the gaps in how the institution in Wales at the moment tries to assist companies – and the sensible assist that they really want. I additionally know from first-hand expertise what a lot of these companies must do to make a step-change of their efficiency. Past that, I’m additionally eager to harness the huge Welsh diaspora on the market. There’s in all probability 10 occasions extra profitable Welsh enterprise individuals working exterior slightly than inside Wales – let’s use all that further knowledge to our benefit in any manner we are able to.

“It’s time to lift our personal ambitions to be one of the best there may be”

 “If I’m sincere I additionally suppose it’s about time we raised our personal ambitions for the Metropolis Deal. Why not goal a lot increased to do significantly better? Why not be one of the best there may be, nationally and internationally? We’re virtually apologetic in Wales about being profitable. After I bought my companies I obtained a very completely different response from my mates in London and people in Wales – and it stated to me that we have to create a perception system that claims you may be what you wish to be right here in Wales.

“We want a perception system you could be what you wish to be right here in Wales”

“The assist we provide must be sensible and emotional in addition to monetary, particularly as our SMEs and entrepreneurs don’t have time to suppose by means of what they don’t know. Within the enterprise service sector – whether or not it’s IT, Recruitment or Company Finance – I’d again myself to extend progress of any firm by 25% in two years, if the market is there. You don’t do this simply by throwing cash at it. You obtain that by throwing insights, abilities and methodology at it, being formidable and looking out on the world in another way.

“It’s about understanding your market and the arithmetic behind progress”

“Though I’m a skilled accountant with a level in regulation, I’m a gross sales and advertising man at coronary heart – and to me success is constructed on understanding the market and the arithmetic behind progress. How do you measure your gross sales efficiency? What’s the ROI in your advertising spend? Do you could have the appropriate programs? You’ll be able to typically get as a lot monetary assist as you need, however securing subsidies gained’t create the actual worth in your enterprise, that begins with understanding who buys from you, what’s differentiating you out there and the place innovation can provide the edge. The place’s your cash coming from? The place’s your progress coming from? The place’s the market improvement coming from? How do you open up in Europe, in Asia Pacific? These are the questions our companies must be asking – and no MBA within the UK will provide you with the solutions.

“Making 500 SMEs 25% more practical would create £1 billion additional revenue and 10,000 extra jobs”

 “For example of what the Enterprise Council may obtain, think about taking 500 SMEs in our area and making them 25% more practical. That might create a billion kilos of further revenue and 10,000 new jobs. These are the kind of issues that must occur, in addition to the inward funding and all the pieces else that’s a part of the 20 yr technique.

“The one purpose I’m doing it is because I need the area to be extra profitable on the finish of my tenure than it was initially. I see nice power going into rising the clusters and securing the inward funding, which is implausible. However what in regards to the 10,000 corporations which might be already right here, paying tax and using individuals? We have to get all of the boats to drift. And that in my opinion is what the Enterprise Council is for – a reputable conduit of optimistic path, articulating the various wants of our companies; and likewise an engine of sensible deliverables that may be measured, confirmed – and regularly constructed upon.

“We have to get all our boats to drift”

 “How can companies assist ship that? It begins with a completely thought-through, correctly costed, energised marketing strategy for achievement – asking the large query: ‘How are we going to do that?” And I additionally need individuals to create a assist community to assist one another – a community of formidable enterprise minds who can actively assist one another. We will present assist to make that occur. I’ve been serving to companies overcome organisational change for a few years – from digital transformation to recruiting new individuals – and I’ve had nice perception into the emotional journey, notably about giving individuals the braveness to succeed. Worry of success is extra harmful than concern of failure. That additional 10%-15% ambition creates that super-profit, that potential to re-invest. The Germans are good at it – Porsche and BMW are nonetheless largely household owned as a result of they’ve constructed a powerhouse on ambition.

“Let’s study from one of the best and be a part of them, celebrating our heroes in enterprise and serving to them obtain actual success.”