Derek Vaughan MEP

Working hard for Wales in Europe

EU provides £16m to develop potential business leaders in Wales

A drive to develop Wales’ business leaders of the future has been backed to the tune of £16 million by the Convergence European Social Fund.

Over 5,000 businesses and 18,000 people across West Wales and the Valleys will be helped by the “Enhancing Leadership and Management Skills in Wales” scheme as part of an initiative to enable Wales to compete in the global economy.  Over the next five years, grants will be available via the Assembly’s Flexible Support for Business Service for up to 70 per cent of the total cost for employers to fund staff training and development.

DEREK VAUGHAN, Labour MEP for Wales, said:

"The scheme will have a hugely positive effect in developing the economy in West Wales and the Valleys, training and equipping the business leaders of tomorrow to meet the challenges ahead.

The key to tackling disadvantage and deprivation is to support local, indigenous businesses and individuals, helping them to build and provide long term sustainable employment.  To compete on a world stage, Wales needs leaders and managers that are placed to take advantage of the many opportunities that the economy will bring once it recovers from the current recession."

The package also includes the provision of a new All-Wales Centre of Excellence with training, workshops, information and services all under one organisation made up of a number of partners including Cardiff Business School, Cardiff University, Glyndwr University School of Business and Tattum Guests Associates.

MR VAUGHAN added: 

"By working together and fusing the knowledge, experience and understanding of Wales’ universities and the business sector, managers and leaders will be able to find out about the resources and assistance available to them in a one-stop shop approach.

This can only help in transforming the economic future of Wales to one in which we are confident for the future."

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