South West Wales leaders call for ‘whole value’ procurement to keep wealth local
A coalition of regional businesses has identified practical steps to help major investment create local jobs and stronger supply chains.
Business leaders and anchor institutions across South West Wales are calling for urgent action to keep more economic value in the region.
They want organisations to use their spending power more strategically. As a result, regional investment could support more local jobs, businesses and communities.
Why local procurement matters
4theRegion convened a high-level roundtable at the Swansea offices of Redkite Solicitors. The discussion focused on the localisation of supply chains. In particular, attendees considered how local businesses could benefit from major regional investment. South West Wales is expecting significant investment through projects such as freeports and renewable energy. However, these projects will only benefit the wider region if local SMEs can compete for and win contracts.
Representatives from housing, finance, food, professional services and construction took part in the discussion. They warned that many public and private procurement systems continue to favour scale and the lowest price. Consequently, national suppliers can have an advantage over smaller regional businesses. This approach can overlook local knowledge, community benefits and the wider economic impact of keeping money within the region.
Keeping investment rooted in the region
As host of the roundtable, Redkite Solicitors highlighted the importance of creating lasting regional value. Katherine Simpson, Head of Residential Property at Redkite Solicitors and Regional Partner for its Swansea offices, said:
“As a firm rooted in communities across Wales, we see every day how local knowledge, local relationships, and accessible professional services make a real difference to people and businesses. South West Wales has enormous potential, and if we want major investment to translate into long-term prosperity, we must make it easier for regional suppliers and SMEs to be visible, prepared, and genuinely considered. Keeping more value within South West Wales is not only good procurement, it is good place-making.”
Moving from lowest price to whole value
The alliance is calling for a shift from “lowest price” to “whole value”. This approach would consider more than the initial cost of a contract. For example, it would recognise local employment, supply-chain resilience, carbon reduction and retained regional wealth. Zoe Antrobus, Director of 4theRegion, said:
“South West Wales has everything it needs to be a thriving, resilient region – talented people, ambitious businesses, strong communities, and huge opportunities on the horizon. But unless we are intentional about connecting investment to local suppliers, local jobs, and local young people, we risk watching the benefits pass us by.“This conversation was about moving from good intentions to practical action. How do we make sure a young person in our region can see a practical route into a good local job created by this investment?”
The role of anchor institutions
The discussion also highlighted the important role of anchor institutions. These are organisations with a long-term presence and significant spending power within a region. They include housing associations, food suppliers and financial institutions.
Organisations such as Tai Tarian, Caredig, Castell Howell and Swansea Building Society can therefore help strengthen regional supply chains through their everyday purchasing decisions. Simon Griffiths, Director of Commercial Supply Chain at Ethos Chain, offered to support local SMEs through free tender-readiness surgeries. He said:
“Procurement should not just be treated as a buying process. It is one of the most powerful economic development tools we have. If we want local supply chains to grow, businesses need visibility of what is coming, time to prepare, and procurement models that properly recognise whole value – not just lowest cost.”
Standing, from left: Jonathan Morris, Tai Tarian; Solitaire Pritchard, Codi Group; Simon Griffiths, Opus BS; Michael Jones, Bevan Buckland; Leon Jones, Green Light Technology Solutions; Paul James, Redkite Solicitors; Dan Thomas, Beacon; Jordan Thomas, Redkite Solicitors; Danni Watts-Jones, DWJ Wealth Management; Jo Vazquez, Quatro Gymnastics; Nathan Griffiths, Swansea Building Society; and Ed Morgan, Castell Howell.
Seated, from left: Lucy Roberts, Caredig; Zoe Antrobus, 4theRegion; and Katherine Simpson, Clare Tregoning and Rhian Davies of Redkite Solicitors.
Turning discussion into action
Moving quickly from discussion to immediate action, the leaders identified several critical steps to transform the regional economy:
- Supplier Spend Mapping: Piloting a postcode-level audit of where regional anchor institutions currently spend their money to identify “leakage” and shift spend locally.
- Pipeline Visibility: Campaigning for transparent, forward-looking procurement pipelines so local SMEs have the time to prepare, invest, and form consortia.
- Tender-Readiness Support: Launching practical surgeries and guidance to help small and medium-sized businesses compete for larger regional contracts.
- Youth Employment Links: Directly connecting regional supply chains to youth employment, using models like the Green Careers Pathway to ensure inclusive opportunities.
- A ‘Front Door’ for Business: Establishing 4theRegion as a central gateway for business-to-business connections, helping local firms find trusted suppliers and collaborate.
The summit forms part of 4theRegion’s ongoing mission to unite people, businesses, and organizations around the shared goal of cultivating a happier, healthier, and economically thriving South West Wales.
Get involved
Contact 4theRegion to learn more or to get involved in future events and regional conversations.
4theRegion is an independent, not-for-profit alliance working to co-create a happier, healthier South West Wales with a thriving economy.
Join us and help shape the future of the region.