Wales's devolved government has committed to fostering economic conditions that would enable a second Welsh company to enter the FTSE 100 index within ten years, Plaid Cymru announced at its annual conference.
Enterprise Minister Adam Price unveiled the ambition on Saturday at the party's gathering in Llandudno, Conwy, alongside a new business-support initiative designed to accelerate company growth across the nation. The announcement came as Plaid held its first party conference following its victory in the May Senedd election and formation of the Welsh government.
Currently, Admiral Group remains the sole Welsh-headquartered company trading on the FTSE 100, the index of the UK's 100 largest publicly listed firms.
What is the new business programme?
The centrepiece of Price's strategy is a scheme called Sbardun, an intensive two-year support programme designed to help Welsh enterprises scale up their operations. On 2 October, the Welsh Government formally launched Sbardun as a business-support service combining government resources with Development Bank of Wales funding and access to capital investment.
The first 20 Sbardun participants will be selected from existing Development Bank of Wales customers, with the 24-month programme offering support from experienced business leaders and entrepreneurs, including guidance on leadership, finance, networks and market entry. The initiative targets firms that currently lack the scale to compete nationally or internationally but possess the potential to grow substantially.
What targets has Plaid set?
Price committed to developing 500 high-growth firms across Wales within a decade. Plaid defines high-growth companies as those experiencing rapid expansion in both revenue and employment. The party argues that achieving this target would create the foundation for Wales to host a second FTSE 100-listed company.
"Scale matters. We should want more Welsh firms to succeed, to grow and to compete on the world stage. But scale is a means, not an end - the end is good jobs everywhere,"
Price stated, emphasising that economic success should be measured not merely by the number of companies reaching elite status, but by whether people throughout Wales can secure quality employment and build prosperous lives.
How does this address Wales's economic challenges?
Plaid Cymru had previously identified Wales's "Missing Middle" of medium-sized businesses as a critical gap, having proposed a National Development Agency and a unified business-support hub to tackle this structural weakness. The Sbardun programme represents a practical step toward filling that gap by providing intensive support to firms at a crucial growth stage.
Price framed the initiative within a broader vision of inclusive prosperity. He argued that success cannot be measured solely by corporate achievements at the top of the economy, but must be judged by whether opportunity exists across all regions and communities of Wales.
"Our ambition is an economy deep enough, broad enough and rooted enough to create opportunity for all, generation after generation."
What is the political context?
The announcement occurred during Plaid's first party conference since taking control of the Welsh government in May 2026. On the previous day, First Minister Rhun ap Iorwerth had presented demands to Prime Minister Andy Burnham for additional devolved powers to be transferred from Westminster to Cardiff, framing enhanced economic authority as essential to Wales's development.
Price, who previously led Plaid before ap Iorwerth assumed the role of First Minister, used the conference platform to detail the party's economic strategy and demonstrate tangible progress on business growth within weeks of taking office.
What happens next?
Plaid Cymru's annual conference is scheduled for 2–3 October 2026 at Venue Cymru in Llandudno, where further policy announcements are expected across multiple areas of devolved responsibility. The selection of the first 20 Sbardun participants from existing Development Bank of Wales customers will begin immediately, with the two-year support cycle commencing shortly thereafter.
Key Facts
- Admiral Group is currently Wales's only FTSE 100-listed company with headquarters in the nation
- Sbardun will support an initial cohort of 20 Welsh firms over 24 months, with mentoring from business leaders and entrepreneurs
- Plaid's ten-year target encompasses 500 high-growth firms, defined as those with rapid expansion in revenue and employment
- The programme combines Welsh Government resources with Development Bank of Wales funding and capital investment access
- The initiative addresses Wales's identified "Missing Middle" of medium-sized businesses lacking scale to compete internationally
