A BRIEFING event which considered how to best support small businesses in Wales has been hosted by Preseli Pembrokeshire Senedd Member Paul Davies. Mr Davies hosted the event in partnership with the Development Bank of Wales, Economic Intelligence Wales and the Federation of Small Businesses (FSB) Wales at the Norwegian Church in Cardiff Bay. The theme of the event was ‘productivity’, given that Wales has had a persistent productivity gap with the UK as a whole and with other international competitor regions.

Mr Davies said, “It’s always a pleasure to help facilitate discussions on how we can support small businesses across Wales. 99.3% of businesses in Wales are small or medium enterprises (SMEs) and it’s important for us to explore the opportunities there are to boost SME growth.”

“Business-friendly policies are needed to address Wales’s persistent productivity gap, and we heard from the speakers today that more support is needed in areas like skills development, infrastructure enhancements and planning.”

“As I’ve said before, the Welsh Government has some significant economic levers, and it must now use those levers to create conditions for growth in Wales. We know that when small businesses thrive, they create jobs, spread prosperity and keep our communities vibrant and it’s crucial that governments at all levels do more to support our small businesses and enable them to grow.”

The team of a popular riverside pub in Pembrokeshire, devastated by a recent fire, will relocate to a new town centre location while repair work is carried out on the original site.

On Wednesday, 6 November, a fire broke out at The Bristol Trader, situated on Haverfordwest’s riverside, causing significant damage to the building. The fire affected two floors of the pub as well as the roof space, forcing its closure. Smoke from the blaze was visible across the town as firefighters from Haverfordwest and Milford Haven worked for two hours to extinguish the flames.

Following the incident, the pub’s owners expressed their sadness, describing the team as “absolutely heartbroken” but determined to reopen and come back stronger. They extended their gratitude to the regulars, locals, friends, and family who have offered their support during this difficult time.

In the meantime, The Bristol Trader team will continue operating from an alternative venue. Beginning Monday, 18 November, the pub will relocate to the restaurant of the Castle Hotel, located on Haverfordwest Square, where they’ll serve the same menu.

“While repairs are being made to The Bristol Trader, Team Trader are being temporarily relocated to The Castle Hotel Restaurant from Monday the 18th of November,” announced the team in a social media post. “All our menus are attached to our Facebook page, and the phone lines are being redirected.”

Anyone with a booking at The Bristol Trader who hasn’t been in touch since the fire on 6 November is encouraged to contact the team at 01437 762122.

Trading is a method some people use as a side hustle, especially those who have been affected by the cost of living crisis, and as the market is easier than ever to access, almost anyone can do it. In fact, it’s now estimated that there are nearly a million active traders in the UK, with many of these based here in Wales. 

But, although trading is popular, the risks associated are high. As a result, it’s essential to fully educate yourself on the market and be aware of its unpredictability. With that in mind, here are the very basics of trading if you are looking to get started. 

What is trading?

Trading involves purchasing and selling financial goods, like stocks and shares, and using price fluctuations to seek profit. Traders will monitor volatility in financial markets, then attempt to buy low and sell high for financial gain. 

Types of trading 

There are an endless number of trading strategies you can use depending on your desired financial outcome, acceptance of risk, and investment of time. 

Day trading

Day trading involves capitalising on the rapid fluctuations in prices by purchasing assets then selling them within the same trading day. In the UK, this is Monday to Friday from 8:00 to 16:30. This method can be very effective but also highly risky, and advanced trading skills and larger funds are required. 

Position trading 

Position traders will buy assets based on a trend, and hold out until the trend has peaked, selling their asset when it’s most profitable. Position trading doesn’t involve as much skill or involvement as day trading and the short term risks are lower. However, you do need to deal with short-term fluctuations and have a good understanding of market cycles. 

Scalping

Scalping is a fast paced, short term strategy that involves trading numerous times a day – sometimes hundreds – and profiting off minor price fluctuations. This style of trading requires a lot of discipline, a larger investment of time, and expert knowledge of market liquidity as a large loss could undo all the hard work from previous trades. 

Swing trading

Swing trading is a short-to-medium term strategy that involves holding positions between a few days to several weeks, potentially even a few months. Swing traders base their trades on technical analysis, anticipating an asset’s next move then entering and exiting their position at the right time. 

After-hours trading 

After-hours trading, aka extended hours trading, involves trading outside of normal trading hours, either before the market opens (pre-market trading) or after it’s shut (after-hours trading). After-hours trading is often done for convenience or preference to trade with fewer market participants. It’s also common for traders to use extended hours to manage trades without waiting until the next day to prevent missing out on valuable price swings. 

Know the risks 

If you’re looking to start trading, it’s important to be aware of the substantial risks. Even the most experienced traders can face detrimental losses as the financial markets move quickly and erratically. Having full knowledge and a thorough understanding of the market is essential. 

Getting started: Opening an account

If you’re completely new to trading, it’s recommended that you start with a demo account. Demo accounts allow you to practise the art of trading with real market conditions (mimicked by brokers) but without real money. It’s a highly effective educational tool that offers you the chance to build the knowledge, skills, and tactics required to succeed without taking any risks. 

Trading can be a great investment, particularly for those with low pensions, but conducting thorough research is essential to ensure financial success. Consider which tactics will work best for you and open a demo account to practise without risk. Once you’re ready, you can open a real trading account and get started.