Some of the UK's fastest-growing companies are based in Wales, with pockets of high-achievers based in cities leading the way.

Barclays' report shows Wales has a high number of businesses which grew sales or profit by at least 25% last year.

High-skilled professionals at fast-growing firms in Newport, Cardiff and Swansea helped their companies expand quicker than many around the UK.

Fast-growth firms

Newport - 20.2% Cardiff - 19.5% Swansea - 17.2% Source: Barclays 'Fast Growth Firms' 2002 (based on proportion of all companies resident four years or more)

They are mainly concentrated in the business services, construction and retail sectors.

And they are more likely to be headed by younger workers than slower growers.

There are also twice as many owners or managers at fast-growers from ethnic minorities - particularly Asian communities.

Wales' three major cities have a higher concentration of entrepreneurs than other regions and a pool of accounting and legal professionals dealing with fast-growing firms.

Optimism found

Barclays' "Raising the Bar" report found optimism with a large proportion of businesses expect to grow by at least 10% over the next year - and very few anticipate a decline in fortunes.

The bank said many bosses' biggest nightmares are changes in technology, increased National Insurance contributions and government red tape.

But the latest research appears to contradict other recent findings.

In April, the University of Glamorgan's business school warned Wales was lagging 30% behind the UK in the rate at which entrepreneurs create start-up companies.

Only half of Welsh firms export their goods and just 9% use e-commerce to rack up global sales - characteristics of fast-growing businesses.

In July, the Global Entrepreneurship Monitor report found 3.7% more of the Welsh population had become entrepreneurs in the last two years.

That meant 6% of people are starting their own business or already running their own firm - more than only Scotland.

Just 11% of Welsh people believe there are good opportunities to start a business in the next six months.

That is something one of many Welsh Developmetn Agency plans - becauseyoucan.com - is looking to improve upon.