Business
Bullying claims at Development Bank ‘extremely worrying’
ENTREPRENEURS have been bullied and forced to hand over control of their businesses after approaching the Development Bank of Wales for financial support, the Senedd heard.
Paul Davies, who chairs the economy committee, raised “extremely worrying” evidence from Dylan Jones-Evans, an economist and academic, about the Development Bank.
Mr Davies said the committee also received emails from people who had dealings with the bank and felt they had been bullied out or had their businesses essentially stolen.
Prof Jones-Evans told the committee: “Unfortunately, I have been approached by … businesses prior to this review who feel they have not been treated fairly with valuations being too low, where decisions have taken far too long, and where terms are unacceptable.
“Worst still, there have been instances where some have been bullied by the directors imposed on them, where they have been forced out by dubious means and where founders feel they have not been supported by the bank.”
Prof Jones-Evans warned that young, inexperienced founders found themselves in this position and should have received far greater support.
Mr Davies said: “If these reports are accurate, those actions may well have extinguished that entrepreneurial spirit, which would be an absolute tragedy and exactly the opposite of what the bank was established to do.”
The former Tory group leader added that much of the testimony was supplied anonymously, which limited the committee’s ability to scrutinise the evidence.
But he cautioned: “It only takes a brief look on a news website to find situations where allegations such as bullying have been made against other public institutions where, in some cases, they have been ignored and, as we know, sometimes these cases do not end well.”
Mr Davies stressed: “I just want to be clear: I have discussed these accusations with the bank via correspondence and in a private meeting and they absolutely refute them.”
Leading a debate on November 27, he said most of the evidence received by the committee, which made 13 recommendations, was supportive of the bank and its operations.
Mr Davies also raised concerns about the Development Bank being reclassified by the Office for National Statistics as central government in 2021.
He explained this leads to “double counting”, with the Welsh Government having to keep money in reserve to cover any uninvested funds given to the bank.
Plaid Cymru’s Luke Fletcher said the transition from Finance Wales to the Development Bank marked a step change in 2017, with investment doubling to £124m by 2022/23.
Mr Fletcher advocated merging the bank with Business Wales to create a one-stop shop.
Labour’s Hefin David pointed out the bank is not covered by Wales’ Future Generations Act, raising suggestions a social value clause could be inserted into grant and loan agreements.
Samuel Kurtz, the Conservatives’ shadow economy secretary, raised warnings from the Federation of Small Businesses of “massively fragmented” business support.
He expressed concerns about troubling evidence from Prof Jones-Evans that the Development Bank did nothing to stop imposed directors bullying out founders.
The economy committee scrutinised bank executives on November 20, questioning a 3.2% cost-of-living pay rise awarded to all staff including those earning six-figure salaries.
Dr David pointed out that annual remuneration for the highest-paid director increased by 20% from £217,000 to £260,000 between 2023 and 2024.
Giles Thorley, chief executive of the bank, which wrote off £27m in 2022/23, said 3.2% was lower than the Welsh Government’s rise, attributing the 20% to performance-related pay.
Rebecca Evans, Wales’ economy secretary, said the Development Bank has invested £778m in more than 3,900 businesses since 2017, supporting 41,700 jobs.
She said: “That’s a total impact of £1.66bn on the Welsh economy – real investment, real businesses, real growth, supporting businesses in every part of Wales.”
Turning to concerns received by the committee, Ms Evans said: “Finance can be complex and I am aware there are times when customers don’t understand the role of the bank or the obligations of the bank and this can, regrettably, lead to misunderstandings and complaints.”
She added: “I’ve had the opportunity to address concerns with officials. It is the case, though, that founder members of companies are sometimes removed by their boards.”
Ms Evans told the Senedd she has confidence in the leadership of the bank and its board, with an external review set to take place next year.
Business
Rosemarket Dawn Till Dusk golf club 18-hole plans lodged
A CALL to extend a long-established Pembrokeshire golf club, bringing it up to a full 18 holes, has been submitted to county planners.
In the application, Mr and Mrs Young, through agent Preseli Planning Ltd, seek a change of use of land adjoining the Dawn Till Dusk Golf Club, Furze Hill Farm, Bastleford Road, Rosemarket, to form an extension to the existing golf course, along with landscaping and associated works.
A supporting statement through the agent says: “The application seeks full planning permission for the enlargement of the existing golf course to provide an additional six holes, to provide a total of 18 holes.
“The proposal would involve minor landscaping works to the fields and boundaries and the creation of a small number of ponds and bunkers. The extension would be located on land to the west of Furze Hill Farm and on the opposite side of the road to the existing golf course and clubhouse.
“An altered access to the land parcel is proposed as part of this application, which would provide an improved route for users crossing the public highway to avoid conflict with movements at the main entrance.
“The application site exceeds 1ha and therefore the proposal is considered major development necessitating a Pre-Application Consultation prior to formally submitting the planning application to the Local Planning Authority.”
It adds: “The existing golf course has operated in excess of 30 years and is popular with both visitors and locals. Club membership currently stands at approximately 350 and there is demand for enhancing the provisions of the course.
“The applicants’ sons have recently increased their involvement in the enterprise and in recent years wet winter months have necessitated the closure of the course, or parts of it, due to the ground becoming waterlogged, primarily due to the flat nature of the existing course.
“The extension would provide variation to the terrain, providing, dryer conditions, as well as the ability to alternate between the existing and proposed to maintain use, enhancing the viability of the enterprise.”
The application will be considered by Pembrokeshire County Council planners at a later date.
Business
Plans to rebuild arson hit building at farm with one of largest sheep flocks in Wales
A CALL to rebuild a fire-damaged Pembrokeshire farm building, as a family home to help manage one of the largest sheep flocks in Wales, has been submitted to the national park.
In the application to Pembrokeshire Coast National Park, D B Davies and Sons through agent Harries Planning Design Management, with a supporting statement by Reading Agricultural Consultants Ltd, seek permission to renovate an existing fire-damaged dwelling, together with the conversion and extension of outbuildings to form an agricultural worker’s dwelling at Mynydd Du, Rosebush.
The supporting statement through Reading Agricultural Consultants Ltd says Mynydd Du is part of a wider holding which includes Eisteddfa Fawr and land around the village of Brynberian, the farms approximately six km apart, with land under control of the applicant amounting to some 1,500 acres, with a further 3,000 acres of Preseli mountain common land also used; the land accommodating a 5,000-ewe flock with 10 suckler cows and followers.
It says DB Davies & Sons Unlimited, has five partners: the two Davies brothers, Berian and Ken; their wives; and Berian’s son, Dyfed.
Berian and Ken are in their late 70s, with most of the heavy work on the farm is undertaken by Dyfed.
Dyfed and his wife Megan are first language Welsh speakers, living some 10 km away in Nevern, while Berian and Ken, and their wives, live at Eisteddfa Fawr, Brynberian.
The dwelling at Mynydd Du, where most sheep are now wintered, is structurally sound and repairable but has been unoccupied since 1990, and was subject to arson circa 2013, the statement says.
It says Dyfed works full-time on the farm, alone with increasing frequency as the older business members are above retirement age, working “long hours out of necessity to undertake all the work associated with one of the largest flocks of sheep in Wales”.
“His working hours are extended further due to the fact that he lives remote (6kms) from the main block of land at Tyllosg, where Mynydd Du is situated in the centre of the farm. Travelling back and forth several times each day during lambing and other times during poor weather, to check on flock welfare is an arduous task and can be dangerous, particularly if driving when tired during inclement conditions.”
The statement adds: “The application seeks permission to repair the fire damaged dwelling at Mynydd Du and bring it back to serve a useful purpose to enable Dyfed to closely monitor the ewes, not only at lambing, but throughout the year when the flock is grazing on the adjacent common land.
“It will also enable Dyfed to be with his partner and young child on a more regular basis than simply at the end of a long day when he is away from their current home, tending the sheep at Mynydd Du.”
The application will be considered by park planners at a later date.
Business
Herald expands sales team as Milford Haven growth drives demand
THE PEMBROKEHIRE HERALD is launching a recruitment drive to bring in two new sales executives as the newspaper continues to grow its commercial operations across the county.
The move comes as the Herald strengthens its position as the leading independent news platform in West Wales, with increasing demand from local businesses looking to advertise both in print and online.
The expansion is being driven in part by the rapid growth of Milford Haven and the wider energy sector, with major investment in green energy projects, port activity and associated industries creating new opportunities for local businesses.
As the area continues to develop as a key energy hub, more companies are seeking to reach customers, partners and the wider community through trusted local media.
The successful candidates will work directly with Pembrokeshire businesses, helping them promote their services to a growing audience through the Herald’s expanding digital reach and established print readership.
Editor Tom Sinclair said the recruitment reflects both the changing local economy and the Herald’s increasing audience.
He said: “Milford Haven is expanding rapidly, particularly with new energy and green projects coming forward, and that’s creating real opportunities for local businesses.
“At the same time, our audience continues to grow across both our website and social media platforms, meaning we can now offer advertisers a much bigger and more effective platform than ever before.”
The new roles will focus on building relationships with local firms, developing advertising campaigns, and identifying new opportunities across sectors including tourism, retail, trades, energy and professional services.
The Herald has continued to invest in its digital platforms, including Herald.Wales, alongside its well-established print edition, offering advertisers a multi-platform approach to reaching customers.
The recruitment drive also comes at a time when many local businesses are looking for cost-effective ways to promote themselves amid ongoing economic pressures.
Mr Sinclair added: “Local advertising matters. When businesses advertise locally, that money stays in the local economy. It helps create jobs, supports families and helps communities grow alongside the businesses within them.”
The roles are expected to appeal to motivated, target-driven individuals with strong communication skills and an interest in media, sales or marketing.
Both positions are based in Pembrokeshire, with opportunities for training and career progression within the Herald’s growing media group.
Anyone interested in applying is encouraged to email [email protected] with a CV and covering letter before Tuesday (Apr 1, 2026).
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