Measuring our progress
We’ll examine a wide range of indicators – including the number of businesses and their value, export figures, accreditation and awards, and environmental and well-being measures. We’ll publish everything on the Business Wales website, so there’s an ongoing record of progress. These key success measures will give us all a clear idea of how we’re doing, and what needs more attention.
Our success measures
- Every year the turnover value of Wales’ food and drink sector will proportionately grow more than the rest of the UK, and to at least £8.5bn by 2025.
- The three-year average of Gross Value Added (GVA) per hour worked in the industry will increase proportionately more than the rest of the UK.
- Every year, the proportion of food and drink sector employees receiving at least the Welsh Living Wage will increase, to achieve 80% by 2025.
- Every year, there will be an increase in the proportion of manufacturing businesses in the industry holding accreditation (e.g. environmental management, staff development, production and other relevant standards).
- Every year, there will be an increase in the proportion of businesses in the food and drink manufacturing sector achieving awards appropriate to their business. By 2025 at least six more Welsh products will join the UK GI Scheme
- 98% of businesses will have a food hygiene rating of 5 by 2025.
Along with the success measures, other targets and indicators are important to monitor and are likely to become relevant over time. Our dashboard will be flexible enough for us to add to these as and when needed.
- Number of businesses in the sector and historic data for earlier years
- Annual business birth rate
- Business survival rate to five or more years age
- Export value for the year and historic figures
- Total employee numbers
- Businesses signing up to the skills pledge
- Number of businesses reformulating products through the Food Innovation Wales and Project Helix