A business referral group is celebrating its impact on the Welsh economy as members share a total of £20M worth of business over the last 12 months.
BNI South Wales, which is a franchise of global business referral organisation Business Network International, currently has 17 chapters across south Wales that meet weekly to pass genuine business referrals amongst its members. It was set up in Wales in 2003 by entrepreneur Guy Griffiths, who was born and raised in East Africa.
Speaking of the impact the organisation has had on business and the Welsh economy, Mr Griffiths said: “When you divide the amount of business passed between our members in the past 12 months, it’s worth over £48,000 per member. It’s clear that this money doesn’t just end up in a savings account. This money fuels Welsh businesses, which reinvest it into the local economy through spending and employment, which in turn sustains employment figures, enables people to buy houses and enables people to provide for their families.
“It’s very clear that the money generated in our chapters circulates many times in the local economy; all of our members are Welsh businesses. They don’t spend the money outside of Wales, and they certainly don’t take without giving back Also, the social impact of business people enjoying increasing success cannot be under-estimated.”
Speaking of how he started BNI in Wales, Mr Griffiths said: “I was recommended Wales by a good contact who explained how it was a dynamic and exciting place to do business; they were spot on. In the first year, we launched four chapters with over 100 members. In just over 13 years we have grown to 410 members across 17 established chapters, with two new groups being established.”
BNI South Wales has solid growth plans for the next 12 months, as well as medium-term plans for the next five years.
“We’re currently growing at a rate of 20 per cent per annum” continued Mr Griffiths. “Within five years, we aim for a BNI chapter to be available to every type of business across the whole of mid and south Wales, generating £37.5M in business between 750 members. BNI South Wales strives to continue to be a private sector alternative to the various government-led initiatives that exist to help businesses in south Wales.”
BNI South Wales is supported by its international franchisor network, which is headquartered in Charlotte, North Carolina in the USA.