The Twitter Interview
May 26 2010 by Sion Barry,Business Editor- Western Mail National Newspaper of Wales
Siôn Barry talks to director of the Cardiff Business Partnership and the Public Trust Partnership, Roy Thomas, via Twitter where responses are limited to 140 characters
@SionBarry: How would you rate Cardiff in entrepreneurial terms?
@RoyJThomas: High. As I meet people every week in business small to big who have built businesses of great value – we do not lack talent.
@SionBarry: Is Cardiff well served by WAG in terms of business support and infrastructure investment into the capital ?
@RoyJThomas: Without a capital of growth Wales will not lever in investment – WAG looks at redistribution but not creation and positioning.
@SionBarry: Has the merger of the WDA into WAG civil service been a failure?
@RoyJThomas: Judging by our economic performance and position in terms of UK and European economic growth – yes.
@SionBarry: Do you agree that there needs to be far greater input from private sector in strategy and delivery of biz support?
@RoyJThomas: Yes – private sector not been taken seriously no urgency in public sector -real business switches off at the lack of pace of.
@SionBarry: In terms of “support” what do you think companies in Wales would most benefit from?
@RoyJThomas: IT grants are key – private sector wants more skilled people -needing growth with more strategic direction and overseas marketing.
@SionBarry: If you had say £10m for a biz start-up would you be confident of the best possible ROI if based in Wales?
@RoyJThomas: Yes. It would depend on sector and market and of people wanting to execute plan – Admiral started with £1m public funding.
@SionBarry: I agree with that completely.
@SionBarry: Do you see merit in a Welsh Stock Exchange, in particular a non LSE electronic version?
@RoyJThomas: No an exchange is no substitute for business growth/value and is only a means for funding – Silicon Valley attracts VC funding.
@SionBarry: But without access to growth finance surely business growth/value cannot be achieved?
@RoyJThomas: Two hours away from the leading financial capital in the world – growth capital is attracted to good business and profitability.
@SionBarry: But if it was cheaper than say raising money on AIM with less regulatory cost could you see a merit in it?
@RoyJThomas: Listing regulations there to protect investors from Madoff type. AIM has its place so does LSE – as does venture capital and debt.
@SionBarry: You seem to be an admirer of India. Anything Wales plc can learn from one of the world’s fastest growing economies?
@RoyJThomas: India knows how to create wealth from use of IT/culture- it has driven its economy We can learn a lot way its used diverse culture.