00:00 and cultural landscape of my constituency of Brecon and Radnorshire.
00:04 As we navigate the picturesque streets and the rolling hills of my constituency,
00:08 it becomes evident that these businesses are not merely contributors to our local economy.
00:14 They are the foundation and the soul as which we identify as a community.
00:20 Let me begin by going into a few facts and figures that underscore the economic significance
00:24 of the small businesses in my constituency.
00:27 According to the latest data, small and medium-sized businesses form the bedrock of the local workforce.
00:33 They account for 62.9% of all enterprise employment.
00:37 That was in 2022, just showing how important small businesses are for my community.
00:43 In terms of sheer numbers, Brecon and Radnorshire proudly boast a diverse array of small businesses,
00:47 from the family-owned shops in all our local high streets,
00:51 the big multinational companies such as Radnor Hills Water,
00:54 and innovative start-up businesses as well.
00:57 The entrepreneurship thrives in Brecon and Radnorshire.
01:00 I'm very pleased to be a part of Powys with my constituency colleague, Russell George,
01:05 which hosts the Powys Business of the Year Awards,
01:08 and that really does highlight the sheer best that small businesses have to offer across Powys.
01:13 I know Russell and I thoroughly enjoy that event when it does come forward,
01:16 and it just shows how important that sector is to us here in our part of the world.
01:22 It is essential to recognise the multiplier effect that these businesses have
01:26 on our local economy.
01:27 For every pound spent in a local business, a huge proportion of that circulates within the community,
01:34 supporting other local businesses, suppliers, and wider service providers.
01:39 This interconnected web of economic activity fosters a self-sustaining economy
01:45 that is crucial for the overall prosperity of Brecon and Radnorshire and the whole of the region.
01:51 Despite their economic contribution, small businesses in my constituency
01:55 face a set of unique challenges.
01:57 Limited access to financial resources, competitors from larger online companies,
02:03 and wider government policy, and the evolving dynamic of consumer behaviour
02:07 are all hurdles that need strategic solutions to overcome.
02:11 But by acknowledging there is a problem, we can address these challenges,
02:14 and we can collectively create an environment where small businesses not only survive, but they thrive.
02:22 This is why it's important that we support Small Business Saturday,
02:25 particularly in the lead-up to the festive period.
02:28 Small Business Saturday is the UK's most successful small business campaign,
02:32 capturing the attention of millions of shoppers annually.
02:36 In 2022 alone, consumers contributed an estimated £774 million
02:41 to small businesses across the nations on Small Business Saturday.
02:46 It comes at a time when small businesses depend so heavily on our festive period,
02:50 with 86% of small business owners stating that the festive period is a vital revenue driver
02:57 for their business for the whole year.
02:59 It's crucial for the country to rally behind our small businesses,
03:03 not just on Small Business Saturday, but also in the days that follow,
03:07 and also the months that follow as well.
03:10 Supporting them to the fullest is essential,
03:12 as they significantly contribute to the richness of our communities, our daily lives, and our economy.
03:19 One notable aspect that sets our small businesses apart
03:23 is their commitment, as Paul Davis said, to the sustainability and community engagement.
03:28 Many of these businesses actively participate in local events,
03:31 they sponsor community initiatives, and champion environmental causes.
03:36 Their role extends far beyond economic entities.
03:39 They are the stewards of our cultural heritage and a catalyst for positive change.
03:45 As a responsible consumer and community members, we hold the power to shape the destiny of our small businesses.
03:52 Choosing to support local businesses is an investment in our community's future.
03:57 It ensures that the unique character of Wales is preserved,
04:01 and that the dreams and aspirations of our neighbours
04:03 find expression through their entrepreneurial endeavours.
04:07 So, in conclusion, Deputy Llywydd,
04:09 the small businesses in my constituency and across Wales are not just contributors to the economy,
04:15 they are the pulse of our communities.
04:17 As we navigate the context landscape of global economic shifts and government policy,
04:22 let us remember that the strength of our endeavours lies in the hands of those who dare to dream,
04:28 dare to innovate, and contribute to the collective prosperity.
04:32 By championing our small businesses, we safeguard the essence of all our future generations to come,
04:37 and also our future of our high streets.
04:40 Ganske's.
04:41 That was fair, I'm...
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