Small, Social Enterprises Could Be Key to Recovery; the Wednesday Essay with the Economy Changing Daily and Companies of All Sizes Making Redundancies, People of Wales Face Challenging Times. Phil Silverthorne, of Training Providers A4e Wales, Gives His View on How to Revitalise Our Economy

Western Mail (Cardiff, Wales), December 24, 2008 | Go to article overview

Small, Social Enterprises Could Be Key to Recovery; the Wednesday Essay with the Economy Changing Daily and Companies of All Sizes Making Redundancies, People of Wales Face Challenging Times. Phil Silverthorne, of Training Providers A4e Wales, Gives His View on How to Revitalise Our Economy


Byline: Phil Silverthorne

THE challenges the Welsh economy faced in the recession of the 1990s are once again rearing their ugly heads. We are seeing job cuts announced almost daily and some of our largest, most established businesses are in administration.

The big question is, what do we do to get ourselves out of the recession and kick start the economy?

The redundancies are causing unemployment to surge at an alarming rate. Unemployment in Wales rose by 24,000 to 95,000 in the last quarter. Recent statistics also show 1.82 million people are out of work, an increase of 140,000 from the previous quarter.

It is the highest figure since the end of 1997. However, things were different then. There were larger redundancy packages paid out to employees who often had more than 20 or 30 years' service.

The "job for life" situation has long gone, so today's redundancy payments reflect shorter service and the new law only forces an employer to pay a week's salary for every year of service.

Larger redundancy payouts in the '90s meant those made redundant had more options, and this is what really gave the Welsh economy a much-needed kick start in the late 1990s. People spent their redundancy money on things like home improvements, better cars and household goods.

Also, more people set about spotting niches in the market place, starting their own companies. This came when big companies in Wales were still making job losses, but this increase in new small and medium enterprises (SMEs) fuelled growth in the economy for the first time in years.

This recession is different because people simply don't have the redundancy pay-outs as financial support or backing to go it alone, so they therefore need more help via funding. This is where a new strategic direction from the Assembly Government will help inject life into Welsh SMEs.

People need to identify key new areas where they can add value to the Welsh economy - this is where social enterprises and co-operatives are able to stand out.

In France, social enterprise is a key growth area. Many commercial businesses would consider themselves to have social objectives but social enterprises are distinctive because their social or environmental purpose is central to what they do. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Small, Social Enterprises Could Be Key to Recovery; the Wednesday Essay with the Economy Changing Daily and Companies of All Sizes Making Redundancies, People of Wales Face Challenging Times. Phil Silverthorne, of Training Providers A4e Wales, Gives His View on How to Revitalise Our Economy
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.