Wales’ smaller businesses turn over £126m per day, according to figures from the Federation of Small Businesses.

Figures show that Wales’ 240,000 SMEs turn over £46bn a year, equivalent to £126m per day. By comparison, the Welsh Government budget for 2016/17 was £15.3bn.

The statistics also show that these businesses provide 62 per cent of private sector employment.

Janet Jones, FSB’s Wales policy chairman, said: “These figures underline what most people know: that Wales is built on an SME economy.

“Whether you’re buying a Christmas present, or grabbing some lunch with a friend, we’d ask you to think about the power your spending has this Christmas. Shopping with an independent business means supporting local jobs, investment, and the vibrancy and distinctiveness of our local areas. Not to mention that independent businesses give items that unique touch that big chains can’t replicate.