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Business

Welsh business confidence rises again in October

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BUSINESS confidence in Wales rose three points to 39% in October, according to the latest Business Barometer from Lloyds. This increase reflects growing optimism among firms about their trading prospects and the wider economy.

Companies in Wales reported a rise in confidence about their own business outlook, up three points to 49%, while their optimism regarding the economy also increased by three points to 30%. Together, these factors contributed to the headline confidence reading of 39%, up from 36% in September.

Focus on growth

Looking ahead, Welsh businesses have outlined key areas for growth over the next six months. A significant 41% plan to invest in their teams through training, 36% aim to diversify their offerings by introducing new products or services, and 32% intend to adopt new technology. Additionally, a net balance of 25% of businesses expect to increase staffing levels over the coming year, a five-point rise from the previous month.

The Business Barometer, which surveys 1,200 businesses each month, provides an early indicator of economic trends both regionally and across the UK.

National picture

In contrast to the positive trend in Wales, overall UK business confidence dipped three points to 44% in October, down from 47% in September. This decline was driven by slight drops in firms’ confidence about their own trading prospects (53% compared to 56% in September) and the broader economic outlook (35% down from 38%).

Among UK regions, the North East recorded the highest business confidence in October at 63%, followed by London at 56% and the North West at 53%.

Sector insights

The manufacturing sector saw a decrease in trading prospects for the third consecutive month, falling to 46%—its lowest point since March. The retail and services sectors also experienced modest declines of three points, landing at 51% and 57%, respectively. However, the construction sector showed resilience, with confidence rising to 50%.

Expert insights

Sam Noble, Regional Director for Wales at Lloyds, said: “It’s encouraging to see Welsh business confidence continue to build. Businesses have clear plans for growth, with many focusing on investing in their staff—a move that will strengthen not just their operations but the wider economy. Whatever their plans, we’ll continue to stand by their side with our support.”

Hann-Ju Ho, Senior Economist at Lloyds Commercial Banking, commented: “While overall business confidence in the UK dipped in October, it follows a period of sustained optimism. Many businesses remain positive about their own trading prospects, and the increase in hiring intentions suggests more employers are looking to expand their workforce. As businesses move into the final part of the year, they will focus on managing these opportunities effectively.”

Business

Ferry Terminal ‘extremely busy’ due to ongoing Holyhead closure

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PEMBROKE DOCK Ferry Terminal has been experiencing significant congestion today as ferry services remain under immense pressure following the closure of Holyhead Port earlier this month.

The disruption, caused by storm damage, has rerouted ferry traffic through Pembrokeshire, leading to long queues and crowded facilities at the terminal.

The Herald can confirm that it has been very busy today with cars, lorries, and foot passengers queuing in large numbers. Staff are working tirelessly to manage the influx, directing vehicles and assisting passengers as they prepare to board the heavily booked ferries.

A spokesperson for the Port of Milford Haven said: “We are working closely with ferry operators and local authorities to ensure traffic flows as smoothly as possible, but the sheer volume of vehicles is causing unavoidable delays.”

Travelers are being urged to arrive early for their sailings and to remain patient as the terminal operates at full capacity.

Both Stena Line and Irish Ferries have increased capacity on their Pembrokeshire routes, deploying larger vessels, including the Stena Adventurer and the MV James Joyce, to handle the surge in demand.

From our position at the terminal, our photographer has captured photos showing long lines of vehicles, groups of foot passengers carrying luggage, and port staff coordinating efforts to ease congestion.

Authorities are advising non-essential travelers to consider rescheduling their journeys where possible and to monitor updates from ferry operators closely.

(Photos: Martin Cavaney/Herald)

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52 homes to be built in Roch as scheme gets final sign-off

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THE FINAL stage of approval for a near-£10m Pembrokeshire residential development of 52 homes has been given the go-ahead.

Back in April, members of Pembrokeshire County Council’s planning committee backed an application by Wakefield Pembrokeshire Ltd for the development, which includes four one-bed affordable housing units, on land near Pilgrims Way, Roch.

18 objections to the scheme were received, raising concerns including an “inadequate” affordable housing level, it being a high density development for a rural area, a loss of green space, the size of some of the homes, and pressures on existing services and facilities, and fears it may lead to an increase in second homes.

Nolton & Roch Community Land Trust (N&RCLT) has raised its concerns about a lack of affordable homes at the development, calling for a 20 per cent affordable homes element, as recommended by policy.

An officer report for members, recommending conditional approval, said: “It is apparent that the proposed development is not fully policy compliant, insofar as it cannot deliver the indicative 20 per cent affordable housing sought [by policy].

“However, a substantial positive social impact will arise through the provision of housing, including four one-bed affordable housing units, in meeting identified needs for both market and affordable housing.

“Financial obligations identified to mitigate adverse impacts arising from the proposed development cannot be met in full. However, [policy] acknowledges that in such circumstances contributions may be prioritised on the basis of the individual circumstances of each case.”

Speaking at the meeting, agent Gethin Beynon said the project had a “significant economic value” of around £10m, and the local applicant had “a sense of stewardship to the local community,” offering affordable housing and community infrastructure towards highways and education.

Approval was delegated to the council’s head of planning to approve the application, subject to the completion of a Section 106 planning obligation, making community financial contributions.

The Section 106 agreement was recently agreed, with the application now formally approved.

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Business

World of engineering and welding SPARCs interest in Ysgol Harri Tudur’s female learners

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AN EVENT hosted by Ledwood Engineering gave girls from Year 8 and 9 at Ysgol Harri Tudur first-hand experience of the world of engineering recently. 

Engineering is a booming sector in Pembrokeshire with a high demand for skilled workers in exciting career pathways associated with the development of low carbon and renewable energy industry and the Celtic Freeport. 

The young women heard from industry experts on the importance of engineering in Pembrokeshire, and had hands on experience using a welding simulator, at the company’s Pembroke Dock site. 

The learners are part of the County’s SPARC (Sustainable Power and Renewable Construction) initiative aimed as inspiring and empowering young females to consider careers in science, technology, engineering and mathematics (STEM) pathways where females are under-represented in the workforce. 

SPARC is funded through an alliance comprising Blue Gem Wind, Ledwood Engineering, Port of Milford Haven, RWE Renewables, Pembrokeshire County Council, Pembrokeshire College and the Swansea Bay City Deal. 

Mrs Laura Buckingham, SPARC practitioner at Ysgol Harri Tudur said: “Our learners had a fantastic experience at Ledwood Engineering.  They were given lots of advice by industry experts on the different career options and pathways within the engineering sector.  

“They appreciated the opportunity to ask their questions and found the session very informative. Having the chance to trial their welding skills on the simulator was an experience they continue to talk about and has definitely piqued their interest.”

Poppy Sawyer, Year 8 SPARC learner added:  ‘It was a really good trip. Talking to the different people there has helped me know more about the jobs we could get which will be very useful when making choices for my future.”  

 “They helped us a lot by giving us lots of information. We were able to look around and try welding. It was really fun,” added Tianna Marshall, Year 8 SPARC learner.

The Regional Learning and Skills Partnership also launched its Explore Engineering interactive website at the event.

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