One of the most interesting and rewarding experiences over the last year was my role at chairman of the judging panel for the very first Cardiff Business Awards, organised by local firm Grapevine Events.
As far as I am aware, these awards are the only ones where, in addition to the normal application form, the shortlisted companies have to present in front of a panel of independent adjudicators.
With nearly fifty firms appearing over two days, it was a highly intensive process especially because, as chair, I had to be present for every business that came before the panel. However, it was thoroughly enjoyable to meet so many great businesspeople and to see how they loved working and living here in Cardiff.
Since the first Cardiff Business Awards back in 2015, there have been some interesting economic developments in the city.
Probably the most important of these was the agreement for a £1.2bn City Deal for the Cardiff Capital Region. This is expected to create 25,000 new jobs and leverage in a further £4 billion of private sector investment over the next 20 years by developing a range of projects to boost the competitiveness of the region.
These include nearly £750 million for the Metro integrated transport network as well as initiatives aimed at boosting skills and innovation such as the designation of an innovation district in the city region, and the establishment of software and cyber-security academies.
Another exciting development last November came from Cardiff Business Awards business of the year IQE PLC, which announced plans for what is being described as the world’s first compound semiconductor in partnership with Cardiff University. This has the potential to create up to 5,000 new jobs and hundreds of new technology-based spinouts.
But it’s not as if jobs are not already coming to the Cardiff through the efforts of both large and small firms.
Car finance firm MotoNovo is to create nearly 600 jobs in a £100m investment by moving its headquarters across the city and will be looking to double in size over the next few years. Global outsourced customer service specialist Firstsource Solutions is also bringing a further 300 jobs making it one of the largest contact centre employers in Cardiff.
A new Aldi distribution centre will be recruiting up to 260 people for its new regional offices and distribution centre on the Capital Business Park in Wentloog whilst US firm Sorenson Media has created 45 high quality jobs in the creative industries, developed new products and expanded into the European market.
Another key development for the city is the opening of Entrepreneurial Spark by Cardiff Business Awards main sponsor Natwest Bank.
This is the world’s largest free business accelerator for early stage and growing ventures which takes entrepreneurs through an action centred development process to help them grow. Those that succeed in getting onto the programme in Cardiff later this year will gain access to free space at the fantastic new 1 Central Square office scheme next to the railway station, as well as free wifi and access to business support from a pool of over fifty business mentors.
Finally, having been been managing the Wales Fast Growth 50 project for the last eighteen years, I am aware of the impact that Cardiff has a centre for high growth firms. Indeed, around 40 per cent of the fast growth list every year is located in the city.
This impact was validated only this week when a study by Octopus and the Centre for Economics and Business Research (Cebr) showed that in terms of locations that were most friendly to the nurturing of high growth firms in the UK, Cardiff was ranked third behind London and Manchester.
Therefore, there continues to be great news about how the Cardiff economy is growing and not only attracting new jobs to the city but, more importantly, is stimulating new firms to start and existing businesses to expand their operations.
There is much to celebrate about this great capital city of ours and with only a week to go until the nomination process for this year’s Cardiff Business Awards is completed, I would encourage all businesses in Cardiff to come forward and demonstrate their impact on this great capital city of ours and beyond.