Brighter Foods, Tywyn, is an excellent example of how giving ownership of a company to the workforce can completely change the fortunes of a company, following the closure of Halo Foods six years ago.
The Welsh Government should create a unit within the newly formed Welsh Development Bank with a reserve fund, but primarily expertise, that would advise and assist the workforce of any business that found itself near bankruptcy or intending to close, to ensure the continuation of that business and that the skilled workforce is retained in our communities.
Such a fund and department would have been beneficial for electricians at Falconer, for instance, to allow them to take ownership and restructure the business. Of course, the fact that the staff found new employment at AER, another local company, was excellent news. But by assisting the staff when their former employer was finding itself in difficulties would have resulted in a further 6 jobs in the area.