Economy Minister visits pioneering recycling business Thermal Compaction Group to mark the 10,000th job created by the Business Wales Accelerated Growth Programme.

Business Wales, a free service that provides impartial, independent support and advice to people starting, running and growing a business in Wales, has created its 25,000th job, Economy Minister Vaughan Gething has revealed.

Ten thousand of those jobs have been created by businesses supported through the Business Wales Accelerated Growth Programme (AGP), which provides targeted support for ambitious growing firms. The programme is part-funded by the European Regional Development Fund through the Welsh Government.

The Economy Minister made the announcement as he visited Thermal Compaction Group (TCG), a business that created the 10,000th job attributed to support provided by the Business Wales Accelerated Growth Programme.

Business Wales' Accelerated Growth Programme has been an enormous success since its inception in 2015. It reached the impressive milestone as Alex Spyropoulos, an Operations Manager for the Cardiff-based firm, began work at its 8,000 sq ft site on Curran Road.

Thermal Compaction Group, founded in 2014, provides innovative solutions to many different waste streams across a vast array of industries focused on achieving carbon net zero. The firm offers unique patented products that provide cost-effective solutions to global waste management problems, including the world’s only at-source PPE recycling technology. Its products are being used by the US Navy and the Dutch healthcare system, among other international customers.

Economy Minister Vaughan Gething was at the TCG headquarters to hear about their growth and meet the team. He said:

"The Accelerated Growth Programme has been a flagship for Business Wales, and it's fantastic to see that it's been responsible for some of our most ambitious SMEs creating 10,000 new jobs across Wales. It's also excellent news that overall, Business Wales has helped to create 25,000 new jobs across Wales. This success is a testament to the Welsh Government's proactive support for business and the expertise of our team.

"The Accelerated Growth Programme is about more than the growth it drives in companies; it's also about the impact that it is having on individuals across Wales. These are 10,000 jobs that may otherwise not have been created, and it's a source of great pride that we have been able to help people like Alex into a job at a company that is harnessing technological innovation to create a greener, more sustainable future.

"TCG's innovative products are exported worldwide and are attracting global attention, so they are a real success story to be proud of in Wales. I would encourage ambitious businesses in Wales to explore whether the Accelerated Growth Programme can help them too.

"It was fantastic to meet Alex and the hard-working team at TCG today. Creating 25,000 jobs is no mean feat, and, as I look to the future, I feel confident in predicting there will be many more milestones to come."

Since signing up to the Business Wales Accelerated Growth Programme (AGP) in 2019, TGC has received mentoring and specialist advice on market analysis, funding opportunities and establishing key client contacts. This support has proved "very helpful" according to Managing Director Mathew Rapson:

"As a small company, it's been invaluable to have the support of our relationship manager Howard Jones and several experienced business coaches as we have navigated our way from the research and development phase to a period of high growth.

"We are very grateful for the service we have received from the Business Wales Accelerated Growth Programme and would recommend it to any business looking to scale up and grow."

The Minister also announced that the business creating the 25,000th job due to Business Wales support is Cwmbran-based Cake and Roll. The franchise business recently employed 19-year-old Bethany Baber as a Customer Representative. Co-founder Marcin Panek said:

"Since we launched in May 2021, the support we have received through Business Wales has been fantastic. They have helped us with marketing and promotion, business planning and upskilling our team. We are already seeing the benefits of applying everything we have learned, and it's meant we have been able to expand our team.

"Bethany is settling into the team well so far, and we are already discussing a fast-track promotion scheme for her. We are confident that our team will continue to grow over the coming months.

"I've always wanted to be my own boss. Business Wales gave me the opportunity to do that and has supported me every step of the way. So I'm delighted that we are responsible for creating the 25,000th job, which is a great honour for our team.

"I would strongly encourage other businesses looking for support to contact Business Wales. Since signing up, Cake and Roll has gone from strength to strength, and we are very grateful for all the help we've received."

Further information on Business Wales can be found at https://businesswales.gov.wales