Why West is Best for food and drink

By Nigel Roberts, finance and banking specialist with Carmarthen-based accountants Clay Shaw Butler
The late, great Ray Gravell always used to say, ‘West is Best!’
Those of us who live in West Wales know it to be true – and always enjoy repeating Grav’s motto.
In fact, those of us who live in Carmarthenshire will always try and go a step further and argue that the best bit in ‘the West’ is what Welsh-speakers love to refer to as Sir Gar.
Carmarthenshire revels in its gateway location at the end of the M4.
Some would argue that it should now be renamed Royal Carmarthenshire, in recognition of the fact that our most famous citizen, Prince Charles, the Prince of Wales, has a home at Myddfai, near Llandovery.
Others, quite reasonably, argue that Carmarthenshire should be renamed ‘The Garden of Wales’ in view of the fact that we boast two great horticultural tourist attractions – the gardens at Aberglasney in the Tywi Valley and the National Botanic Garden of Wales at Llanarthne, just off the main A48 run into Carmarthen.
There is now, much to the delight of everyone in Carmarthenshire, a third lobby which suggests that the county can be christened the food and drink centre of Wales.
The emergence of Carmarthenshire in this new pre-eminent role follows a trend for greater diversification in Sir Gar’s most famous industry – agriculture.
If Grav’s motto was ‘West is Best’, then the motto for farmers has been ‘adapt and survive’.
And the many and different ways in which farmers have adapted, survived and thrived were on display at the recent Wales True Taste Food and Drink Awards 2010-11 held at the Pembrokeshire showfield in Withybush.
Among the special awards presented was the True Taste Champion, which was awarded to food writer and broadcaster Simon Wright of Carmarthenshire restaurant Y Polyn in Capel Dewi, just a short walk from the National Botanic Garden.
The list of other awards winners is hugely impressive -
Paul Oeppen of Hazelwell Organic Farm, Ciffig, Whitland, won Silver for cannon of lamb; Elfyn Davies of San Cler Organic, Glancynnin, St Clears, won Gold for Strained Yoghurt with Lemon Curd and Bronze for Strained Yoghurt with Apricot.
Steve Peace of Carmarthenshire Cheese Co, Boksburg Hall, Llanllwch, won Gold for Llangloffan Smoked; Carwyn Adams of Caws Cenarth, Fferm Glyneithinog, Lancych, won Gold for Golden Cenarth.
Juliet Morris of Ystrad Farm Organics, Ystrad, Brechfa, won Silver for Leg of Hill Radnor Hogget. Roland Watkins of Cwmcerrig Farm Shop and Grill, Gorslas, won Gold for Direct Sales; Elizabeth McGill, of Just So Scrumptious, Kings Road, Llandovery, won Bronze for Deli/Specialist Stores; Steve Swinglehurst of Highmead Dairies, Llanybydder, won Bronze for Local Sourcing, and Karen Birnie of Dunbia, Llanybydder, won Bronze for Contribution to Sustainable Development.
Finally, there was Gold for Green Chilli & Tomato Salsa and Sarah Miller of Sarah Cooks Your Homemade Preserves & Pickles, Whitland.
The Wales True Taste Food and Drink Awards are the Welsh Assembly Government’s vehicle for rewarding innovation and excellence in the Welsh food and drink industry, along with the retail and hospitality sectors.
The one thing which is a common factor among the award winners is a desire for quality which helps create a benchmark for products from Carmarthenshire.
Many of the award winners will also share a common story – a desire to innovate and adopt an entrepreneurial spirit which ensures their products reach the very top of their chosen markets.
Helping Carmarthenshire (and Welsh) products stay at the top of the game will now be a job for Simon Wright, who deserves all our support in his efforts to put Wales on the international food and drink map.
Also working hard behind the scenes in trumpeting Carmarthenshire products is the business development officer at Carmarthenshire Council, Barry Davies.
He pointed out that the recent True Taste awards saw entries from some 350 companies, with the products being honoured ranging from traditional meat, dairy and fish to chocolate, soft fruit, mushrooms, herbs and even tea.
Mr Davies said after the event – “This is a fantastic achievement for these Carmarthenshire producers at what is a national event. My congratulations go to them all.”
Carmarthenshire Council’s Executive board member for regeneration and leisure, Cllr Clive Scourfield, added to the praise - “These awards on a national stage confirm the high quality of food produced by local companies who were undoubtedly up against very stiff opposition. These producers strive for excellence which has been acknowledged at the True Taste Awards. These companies play a vital role in the rural economy of Carmarthenshire.”
All companies – from award winners to new start-ups – will appreciate that there are many factors ensuring success in today’s economy.
A good quality product, enthusiasm, enterprise and innovation will be among the factors which will play in a company’s favour.
Also central will be a company’s relationship with its bankers.
Here, then are my Top 10 tips for making sure have a good relationship with your bankers and fund providers –
1. For your product, research the market undertaking the necessary diligence.
2. Use your bank manager or business consultant as a sounding board for new ideas. Their input at an early stage might save time later.
3. Minimise your borrowing requirement by introducing cash. Family money may also be an option. It’s less formal - and they will not in most cases research your business! It is worth considering that family agreements are formalised.
4. You can also minimise your borrowing requirement by managing your existing cashflow more effectively. Can terms of trade be improved and debtors managed more efficiently?
5. Structure a robust business plan and obtain your accountant's input on any financial projections etc.
6. Do a SWOT analysis on your business (Strengths/Weaknesses/Opportunities/Threats). For the threats and weaknesses what is your contingency and remedy? Remember your business plan will be challenged by your Bank Manager if you require additional or new funding!
7. Investigate all avenues of grant funding and soft loans. Finance Wales offer micro-loans together with Carmarthenshire and Pembrokeshire Lotteries.
8. Affordability of any loan debt is paramount. Greater profitability may be needed for an existing business to cover increased loan repayments.
9. Have your security proposals available. Make sure all parties to the security are agreeable to any arrangement.
10. Have an exit strategy if the project does not succeed.
 Nigel Roberts, the former head of HSBC’s commercial banking arm in West Wales, has recently joined Clay Shaw Butler in the role of finance and banking specialist. Mr Roberts, who has more than 34 years of banking and funding experience, will be based at Clay Shaw Butler’s offices in Carmarthen. He will act as a ‘Dragon’s Den’ type mentor for businesses. Mr Roberts is a well-known figure in Carmarthen sporting circles. He was a keen cricketer. He is a former secretary to the Carmarthen Wanderers Cricket Club and still heavily involved with the team. He is a former secretary to the Carmarthen Athletic Rugby Football Club. Mr Roberts and the team at Clay Shaw Butler can be contacted on 01267 228500 or through the website at www.clayshawbutler.com