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SSU Cluster Newsletter - February 2022

Introduction

As we reflect on our first 12 months as a Cluster, we’re delighted to report that we’ve now signed up our 50th Cluster member. So, what have we learnt in the first year of talking to 50 Welsh food and drink businesses about their scaling up ambitions? That capital, capacity and competencies really are three key challenges for businesses planning growth. In fact, they’re so crucial that our first conference, Money To Grow, will examine these in more detail with representatives from Rabobank and the Development Bank of Wales amongst others. Money To Grow takes place on the 24th March 2022 at the Royal Mint, view the full agenda and register for your free ticket HERE.



The Cost of Money: Equity Investment – What’s That All About? Part 1

Wyn Jones, Regional Cluster Manager



A very popular feature which raised a lot of interest on our Investor Zone stand at the recent Taste Wales event, was our Equity Venn Diagram (see here). It maps out, in general terms, where different types of equity investment might be appropriate in a business life cycle.

Read part one HERE



SSU Signs Up 50th Member



As the Sustainable Scale Up Cluster marks its first anniversary, we’re delighted to have signed up our 50th business member.

Welsh Government Minister for Rural Affairs, Lesley Griffiths said: “It's great news the Sustainable Scale Up Cluster has signed up its 50th member, less than a year after starting up.”

Read more HERE


Whats Hot & Whats Not?


HMRC gives Self-Assessment taxpayers more time to ease COVID-19 pressures

Late filing penalties won’t apply until the end of February, effectively giving individuals until the end of February to file their tax returns. Additionally, no late payment penalties will be applied if the first payment is made in full by 1 April, giving individuals until that date to make their first payment.

Read more HERE


Welsh Business Confidence Steady Ahead of Omicron Impact.

Business confidence fell by one percent during December to 36% in the wake of Omicron and further restrictions. With scientists having a better understanding of Omicron into the New Year, this figure is likely to improve going forward.

Read more HERE

Food and Beverage insights autumn 2021. A look into the mergers and acquisitions activity of Q3 for 2021, as provided by Grant Thornton.

Q3 saw £3,803.5 Million of disclosed deal activity, with deal volume remaining consistent with Q2 of 2021. Meat-free was the most popular sector, likely prompted by the upcoming Veganuary. Overall, businesses are more attractive if they have a strong management team, strong underlying finances, and a clear market position.

Read more HERE.

The view from Wales (business optimism). A short survey answered by business leaders in Wales, as provided by Grant Thornton.

Read more HERE.


Focus On: Are Your Premises a Constraint on Your Capacity?



One of the big constraints for scaling a food or drink businesses can be your location. Are you producing in your own premises or do you use a third party for your contract processing or packing?

Read John's blog HERE


Food Workforce Wales

What is Food Workforce Wales?

Food Workforce Wales is a campaign delivered by Food Skills Cymru (Lantra) on behalf of Food & Drink Wales (Welsh Government).

Showcasing how fulfilling and diverse a career in the growing Welsh food and drink industry can be, this campaign aims to steer a focus onto roles that are helping to feed the nation. From contributing across the supply chain and food production through to being at the cutting edge of new and innovative international product developments, each role has its part to play in the important journey from ingredients to finished products.


Upcoming Events


Money To Grow

A conference examining in more detail how the 3Cs of scaling up - capital, capacity and competencies - are key to the sustainable growth and success of Welsh food and drink businesses.

Register HERE

Preparing For Investment

If you are considering capital investment or borrowing for growth in 2022, join this SSU Cluster webinar where a panel of experts will be looking at how to access the right finance for your needs, and how to prepare a business case for borrowing or attracting investment.

Register HERE


The Cost of E-commerce Scams... and how to avoid them!

E-commerce sales are expected to account for 21.8% of global retail sales by 2024.

Register HERE


Meet The Team - Kevin Young


This month we welcome Kevin to the SSU Cluster team.

North Wales born and bred, Kevin is a Qualified ACMA accountant, that has held a number of senior finance roles within the food and drinks / healthcare sectors in growing family businesses as well as global organisations, which has provided him with first-hand experience of the challenges faced when scaling up.


Get in Touch!

Are you a Welsh food and drink company with ambitions to scale up but not sure where to start? Our Regional Cluster Managers are available for one to one consultations to learn more about your growth ambitions.

Get in touch with them HERE to arrange your 1:1.

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