Business
Welsh business confidence rises again in October
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
Approval expected for 91 Narberth houses
PLANS for an estate of 91 houses, more than 40 per cent of them affordable, in a Pembrokeshire town described as one of the best places to live in the UK, are expected to be approved next week.
In an application recommended for conditional approval at the December 3 meeting of Pembrokeshire County Council’s planning committee, Wales & West Housing Association seeks permission for 91, one, two, three and four bedroomed homes on land to the north of Adams Drive and to the west of Bloomfield Gardens, Narberth.
Narberth was featured in The Sunday Times 2023 Best Places to Live Guide, where it was described as having “a town centre that punches far above its weight”.
28 affordable homes are proposed, along with 12 houses as Low-Cost Home Ownership Units, the remaining 51 homes for open market sale.
Outline planning permission for a residential development on the agricultural land site – now lapsed – was approved in 2010.
Agent Asbri Planning Ltd, in a supporting statement, said: “The design led approach will create a high-quality place, that sensitively sits within the site retained wildlife corridors and positively connects to the community of Narberth.”
It added: “The development of a mixed tenure site for different types of homes will cater for a variety of local people. These include first-time buyers, growing families looking to move up the property ladder, those looking for bungalows or to downsize for their retirement.
“As indicated approximately half of the homes proposed will be for social rent or offered for sale as part of a discounted home ownership scheme for local people who want to buy their own home but cannot afford the high cost of houses in Narberth.
“As a not-for-profit organisation, which operates under charitable rules to bring benefit to their communities, these open market homes would allow Wales & West Housing to self-fund the development without the need for social housing grant or financial support from the Welsh Government. This is therefore an opportunity to provide more affordable housing for local people and families.”
The discounted sale properties will be delivered via Wales & West Housing’s ‘Own Home Cymru’ scheme which helps buyers with a local connection to purchase a home of their own at 70 per cent of market value without the need for a deposit.
The application also proposes 191 parking spaces at the development.
The application finishes: “The proposed development will result in a high-quality environment which contributes to local distinctiveness and a sense of place, leading to regeneration benefits for the wider area in accordance with the site’s vision and brief.”
Business
Cleddau Bridge Hotel affordable homes set to be approved
PLANS to build 35 affordable homes on the fire-ravaged site of the former Cleddau Bridge Hotel, Pembroke Dock are expected to be approved next week.
In a prime location at one of the entrances to Pembroke Dock the former Cleddau Bridge Hotel has been derelict since a fire in March 2019, which brought emergency services from as far afield as Ammanford, Aberystwyth and Swansea.
A previous planning application for the demolition of the hotel and siting of a residential care home and linked bungalows was submitted in October 2022 and which was subsequently granted permission in February 2023.
This permission, in outline, is still live and allows for the loss of the hotel use of the site and its alternative redevelopment as a residential care home.
The site has now been purchased by Castell Group Property Specialists who specialise in delivering affordable housing in South Wales and have undertaken a joint development deal with Pembrokeshire County Council (PCC) and that deal was agreed back in April.
Castell Group Property Specialists, through agent Hayston Developments & Planning Ltd, now wants to demolish what is left of the hotel, with a development of affordable housing units, with landscaping and ecological enhancements, the housing being 100 per cent affordable, in a mix of a mix of social rent and affordable housing.
Initial discussions with the council were for 38 affordable units, which has been lowered to 35 in a mix of 16 one-bed units, 11 two-bed units, six three-bed units and two four- bed units.
The applicants say: “The application offers an opportunity to find a solution to the redevelopment of the site, which has now been vacant and derelict now for some five years, and to make a significant contribution towards meeting the affordable housing needs of the area. The proposal is unique in that the scheme would be in the form of 100 per cent affordable housing.”
The application is recommended for conditional approval at the December 3 meeting of Pembrokeshire County Council’s planning committee.
Mid and West Wales Fire and Rescue Service has previously said the 2019 fire was started by a deliberate act. Following a fire investigation, Dyfed-Powys Police said they found there to be insufficient evidence to identify a suspect.
Business
Antiques and vintage store brings new life to Cardigan’s High Street
AN EXCITING new addition has arrived on Cardigan High Street, as the former Barclays Bank building transforms into a haven for antique and vintage enthusiasts.
Cardigan Curiosities, a newly opened shop, is the creation of Otto Jones and Faith Millward, a young local couple with a passion for breathing new life into old treasures. Describing their shop as a “curated miscellany of treasures from the UK and beyond,” they aim to offer more than just a shopping experience.
“We love celebrating the history behind every item,” they said. “Each piece connects people to stories from its past owners while sparking new memories with its future ones.”
Every item tells a story
The shop’s eclectic inventory includes rare finds with captivating histories. Highlights include a South African rosewood hand-carved shaving mirror once owned by a village doctor and a Portmeirion Totem tea set that reminds one customer of her father’s time in the US Marines.
“These are more than objects—they’re a bridge to the past,” Otto and Faith explained.
Sustainability meets style
Sustainability is at the heart of their business ethos. Otto and Faith are champions of reviving quality items from yesteryear, ensuring they find a place in modern homes.
“Antique and vintage items are timeless—not just in style but in durability,” they said. “These are pieces made to last, often crafted by hand and with care that’s hard to find today.”
The shop also taps into nostalgia, offering items that bring back memories of familiar childhood comforts.
Affordable elegance
Determined to make antiques and vintage items accessible, Cardigan Curiosities offers a range of prices to suit all budgets.
“We want everyone to leave with something unique, even if they only have £10 to spend,” they said.
Unearthing a remarkable connection
Their journey to find the perfect premises took almost a year, but the discovery of their shop’s historical significance made the wait worthwhile. Among their inventory, they found a slate clock crafted by Thomas and Sons of Cardigan—created in the very building where their shop now stands.
Local historian Glen Thomas revealed the former Barclays Bank was once home to Thomas and Sons, jewellers and watchmakers.
“Without realising it, the clock had come full circle—back to the very place it was made,” Otto and Faith said.
The clock has since been acquired by Cardigan Castle, where it will be displayed as part of the castle’s historical collection.
Visit Cardigan curiosities
Located at 32A High Street, Cardigan, the shop is open from 10:00am to 6:00pm throughout November and December.
With its mix of history, sustainability, and charm, Cardigan Curiosities offers an experience that is both meaningful and memorable, contributing to the vibrant mix of independent businesses that make Cardigan High Street a unique destination.
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