Miller Research was commissioned in April 2023 to carry out an Equality Impact Assessment (EIA) of the products and services for the Development Bank of Wales (DBW).
The purpose of this EIA was to explore the potential implications on the provision of DBW’s products and services on the nine protected characteristics. Other aims included, but were not limited to:
- Identify steps that can be undertaken by the Development Bank to advance equality of opportunity
- Analyse the demographics of business owners of DBW portfolio companies
- Identify areas where there is potential for issues, further cost efficiencies, missed opportunities and necessary changes to advance equality of opportunity.
An initial findings (baseline) report was submitted as the first output of the EIA in September 2023. The initial findings report included a review of the policy landscape for the Development Bank, updates on recommendations made from the 2017 EIA, a preliminary impact assessment including a workshop with Development Bank stakeholders, and key findings from scoping interviews with various stakeholders. The baseline report emphasised the need for the Development Bank to provide leadership in promoting ethical inclusion, supporting diverse role models, and advocating for best practices within the financial sector to establish itself as a leader in the realm of equality promotion.
The final report summarised the findings of:
- A public consultation through an online survey
- Focus groups with people who share a protected characteristic and either have or are interested in starting their own business.
- Consultations with Angels Invest Wales (AIW)
- Two workshops with Development Bank delivery staff
- Twelve interviews with a range of advocacy groups working across Wales
The Final report included policy mapping, the public consultation findings, EDI strategy comparisons, practical applications, and recommendations for the future.