Almost half of Welsh businesses report skills shortage and lack confidence in AI and green tech

Paul Butterworth, CEO at Chambers Wales South East, South West and Mid and Vice Chair of the Regional Learning and Skills Partnership for south-west Wales, said:

“The data surrounding skills shortages in this year’s Business Barometer report by the Open University and British Chambers of Commerce reflects the sentiments that businesses in Wales have shared with us quarter on quarter regarding the recruitment and retention of skilled employees.

“Labour costs, recruitment challenges and a hesitancy to invest in training due to other economic pressures are just some of the factors fuelling the current skills shortages. Attracting and retaining people here in Wales with the right skills is crucial for businesses and a key objective of the Regional Learning and Skills Partnerships across the country.

“A skills development strategy that is focused on local skills needs, aligning sector and geographical ambitions, is needed to support young people and jobseekers, and reskill those already in work. This could help those affected by operational decisions such as Tata Steel employees or the movement of workforces out of Wales which significantly impacts local economies.”