Welsh Government Minister for the Economy Vaughan Gething makes statement on the important role social enterprise plays in the Welsh economy.

“Turbulent times continue for our economy in the aftermath of Covid-19 as well as the cost-of-living crisis. However I’m proud that the number of social enterprises across Wales is still growing at the heart of our communities, providing valuable support to people that need it most.

Social Enterprise Day provides the sector with an opportunity to tell their stories, show what makes them different from traditional businesses and promote the positive impact their work has on people and communities right across Wales.

Social enterprises are an important part of our foundational economy. They are frequently community-owned, provide local employment and often put improving their local area at the heart of what they do. aims.

As we move forward to tackle the challenges ahead, it’s vital we lean on the values and the principles of social enterprise and co-operation to build the stronger, fairer, greener and more prosperous Wales this Welsh Government is committed to.

There is huge potential for co-operatives and social enterprises to be the business model of choice, delivering solutions to social, economic and environmental challenges. I am encouraged by the potential for further growth and success of the sector.

I would like to thank every social enterprise for the hugely valuable contribution they continue to make to improving the social and economic wellbeing of Wales.”