Introduction
As we head into summer, inflation and high input costs are still making headlines, while the pressure endures on the food supply chain’s margins. IGD’s latest report predicts that inflation isnow expected to fall slowly as 2023 progresses, ending the year at +8% to +10%, read on for how to download their full report. The Cluster is pleased to issue our second annual report, reflecting on what has been another challenging twelve months for the foodand drink industry in Wales, and Programme Manager, John Taylerson, reflects on whether sourcing cheaper foreign equipment could turn out to be a false economy.
Blog: Sourcing cheaper foreign food processing and packaging equipment is more expensive than you thought
Recently I have seen people buying equipment from the Far-East, usually making the decision based on the cost difference between British or European made equipment versus far-east appearing to be unjustifiable. But I think this is a mistaken view.
What’s next for food inflation?
Food inflation reached a 45 year high in Q1 2023 and continues to have a significant impact on household spending power.
Knowledge Bank: free resources for food and drink businesses
The Sustainable Sale Up Cluster’s online Knowledge Bank has a range of useful resources to support you with some of the decisions you make in your food or drink business; Interactive debt and equity tools, a glossary of finance terms, financial insight videos to help you brush up on your financial knowledge or support guides to help you evaluate where there might be gaps in your business.
Visit the Knowledge Bank HERE
Reference Visit: Puffin Produce
Puffin Produce kindly hosted the latest in our programme of reference visits on Thursday 8th June 2023. The visit looked at how their management information system is key for running such a highly complex business.
Read more HERE
Business Energy Aid Toolkit
Specialist resources and advice to help manufacturing SMEs reduce their energy consumption and increase profitability.
Read more HERE
SSU Cluster Annual Report 2022-23
We are pleased to issue our second annual report in which we have highlighted the activities and achievements of the cluster, and how these activities have helped to address the four key barriers to scale up.
Read the report HERE
What’s Hot & What’s Not in Finance
Can reducing fat, salt, and sugar also lower VAT?
Read Grant Thornton’s food and beverage insights for Q1 of 2023 to find out more.
NatWest Accelerator now open for applications
The NatWest Accelerator supports and empowers UK entrepreneurs and business owners to scale their businesses to the next level through a six-month, fully-funded Accelerator programme.
Read more HERE
Book your space on the Cardiff Discovery visit HERE
Wales the best in the UK for female ownership of fast-growth firms
Wales is outperforming other UK nations for fast-growth firms founded by female entrepreneurs, according to this year’s Gender Index.
Some 12.1% of fast-growth companies in Wales in 2022-23 were female-led – the highest level of all UK nations and English regions. The rate has improved from 11.9% in 2021-22.
Read more HERE
Blas Cymru/Taste Wales
BlasCymru/TasteWales will return on 25th and 26th October 2023 at the ICC in Newport. This will be the fourth international food and drink trade-only event for the industry in Wales.
To register your interest visit www.tastewales.com
Get in Touch
If you’re a Welsh food or drink business who has ambition to grow and is looking for the tools, resources and expertise to support your growth plans, get in touch for a one-to-one consultation with one of our Cluster Managers HERE