The Assembly Government will also create a single investment fund for business support, Mr Jones told the meeting at Swansea’s National Waterfront Museum.

“We will provide a more flexible package of measures that meet the needs of individual businesses”, he said.

“And we plan to make it easier for small local firms in Wales to win Government contracts – including introduction of an All Wales Purchasing Code of Practice”.

Paul Rutter, Chairman of Chamber Wales, added: “Measures which genuinely assist businesses are to be welcomed.
“We wish the minister well in his reforming zeal and hope he can apply it to all areas of bureaucracy which add to the workload of those in business.