THE NUMBER of Welsh companies with overdue invoices on their books reached a 2024 high in September, according to new research from R3, the UK’s insolvency and restructuring trade body.

R3’s analysis of data provided by Creditsafe shows that 18,360 Welsh businesses had unpaid invoices on their books last month – the highest monthly total of the year so far.

The number of Welsh firms with overdue invoices on their books rose by 3.7% in September 2024 when compared to September 2023’s total of 17,709.

Bethan Evans, Interim Chair of R3 in Wales, says: “The rise in businesses failing to pay their bills on time is a clear sign that economic recovery in Wales is still fragile.

“While some sectors may be bouncing back, many firms are still grappling with the ongoing effects of rising costs, wage pressures, and reduced consumer spending, which is making it harder for them to manage their cash flow effectively.”

The number of overdue invoices in Wales also reached a 2024 high in September, with a total 145,687 recorded. This is a slight yearly rise of 0.3% when compared to September 2023’s total of 145,273.

Bethan, who is a partner at Menzies LLP, continues: “Wales’s business debt burden has crept up every month since March and this is creating a growing financial pressure for businesses.

“Without a consistent improvement in payment practices or cash flow, many companies may find it increasingly difficult to manage their debt and maintain operations, and we could see more and more businesses in Wales turning to a formal insolvency solution as a result.

“I would urge business owners and directors that are seeing their debt levels rise to seek advice as soon as they can from a qualified professional. Most R3 members in Wales will be happy to provide a free initial consultation so you can explain the challenges you’re facing, and help you understand the best course of action for you and your business.”

THE NATION’S top Rock ’n’ Roll variety show, That’ll Be The Day, recently returned to Folly Farm, delivering two unforgettable nights of entertainment to over a thousand attendees. The event raised more than £9,000 for Paul Sartori Hospice at Home, adding to a longstanding legacy of charitable support.

Marking its 18th year at Folly Farm and an impressive 37th performance at The Follies Theatre, That’ll Be The Day has contributed to raising over £203,000 for various local charities. Past beneficiaries include Wales Air Ambulance, the Rotary Clubs of Milford Haven, Narberth & Whitland, the RNLI, and most recently, Paul Sartori Hospice at Home.

Event organiser, Phil Thompson MBE, expressed his enthusiasm: “It was fantastic to have That’ll Be The Day back at Folly Farm, especially for two sell-out audiences. The event drew members from clubs and organisations such as Narberth & Whitland Rotary, Haverfordwest Rotary, Pembrokeshire Classic Car Club, Lamphey W I, Pembroke Bridge Club, and Marion Bulley’s Care Home Parties. We’re thrilled to confirm they’ll return on October 24th & 25th, 2025, with tickets available early next year.”

Chris Ebsworth, Director of Folly Farm, highlighted the venue’s continued support, saying: “Folly Farm is proud to host Phil Thompson and the That’ll Be The Day team. The feedback has been phenomenal, with comments like ‘The best show ever’ and ‘A tremendous night. I’ll be bringing friends next time!’ We’re eagerly awaiting the show’s return next year.”

Excitement is already mounting for Walk Right Back, another production by the same talented team, set to hit the Follies Theatre on February 15, 2025. Walk Right Back tells the story of the iconic Everly Brothers and promises to be another major event in the Paul Sartori Foundation’s calendar. Tickets are now on sale through the Paul Sartori Foundation website or by calling 01437 763223.

The Paul Sartori Foundation extends its heartfelt thanks to Folly Farm, the That’ll Be The Day cast, community sponsors Milford Haven Port Authority, media sponsor Pure West Radio, and the dedicated Paul Sartori team: Phil Thompson, Nia, Jo, Julia, Mand (and Mum), Val, Gill, Mair, Janet, Angela, Paul, and Pat.

Rock ‘n’ Roll Legacy: Two unforgettable nights, a community united for a worthy cause

ACCORDING for the UK Government, 2,600 workers in Pembrokeshire are set to benefit from a 6.7% increase to the National Living Wage, which the government announced yesterday as part of its pre-Budget plans. The increase will add an estimated £1,400 a year to the income of a full-time worker on this rate, offering a notable boost to eligible employees.

The announcement also raises the National Minimum Wage for 18 to 20-year-olds, from £8.60 to £10.00 an hour — the largest increase in the rate to date. This change could mean an annual increase of £2,500 for full-time workers in this age group, and it signals the government’s intent to gradually align the National Minimum Wage and National Living Wage, working towards a single adult rate.

As the Budget takes place today, Pembrokeshire and communities across the country await further details on support for essential services, including the NHS and other sectors under pressure. The government has suggested that the Budget will focus on economic rebuilding and service funding without introducing higher taxes for working people.

“This Government promised a genuine living wage for working people,” said Chancellor of the Exchequer Rachel Reeves. “This pay boost for millions of workers is a significant step towards delivering on that promise.”

Business Secretary Jonathan Reynolds emphasized that the pay rise benefits both workers and businesses, stating, “Good work and fair wages are in the interest of British business as much as British workers.”

Locally, Henry Tufnell, MP for Mid and South Pembrokeshire, highlighted the impact of the increase, saying, “This pay increase is especially meaningful for communities like mine in Pembrokeshire, where it will help thousands of struggling households. The rise reflects the Government’s focus on ensuring that hard-working people receive an income that helps them manage daily expenses, and it will also help to strengthen local economies.”

The wage increases build upon the government’s ongoing Plan to Make Work Pay, which includes the Employment Rights Bill and is projected to further enhance pay by up to £600 annually for the lowest-paid workers. As Pembrokeshire residents look to see what today’s Budget brings, this initial announcement marks one step in the government’s broader economic plan.