Connect with us
Advertisement
Advertisement

Business

Post-Brexit lending to rural SMEs slumps, new study reveals

Published

on

Regional inequality deepens as small firms in rural and export-reliant areas suffer finance contraction

A NEW academic study has revealed a sharp decline in lending to small and medium-sized enterprises (SMEs) in rural and peripheral areas of the UK following the Brexit vote—worsening already entrenched regional inequalities.

The research, conducted by Bangor University and the University of Liverpool, shows a 4.8% annual contraction in SME lending in the years after the Brexit referendum compared to similar European economies. The findings have been published in the Journal of Rural Studies.

The decline was particularly pronounced during key Brexit milestones—such as the triggering of Article 50 and the passage of the EU Withdrawal Bill—highlighting the prolonged uncertainty caused by the UK’s departure from the EU.

Researchers used detailed postcode-level data from UK Finance to assess the geographic impact, marking the first such study to link Brexit with regional disparities in SME lending. The analysis found that peripheral and rural Local Authority Districts, as well as regions with high EU export dependency, experienced disproportionately severe reductions in credit access.

In 2016, 2017, and 2018, these areas saw lending shrink by 5.15%, 3.28%, and 1.97%, respectively.

The five worst-affected Local Authority Districts in 2016–2017 were: Derbyshire Dales, Hambleton, Mid Suffolk, Stratford-on-Avon, and Dumfries and Galloway.

Cem Soner, Doctoral Researcher at Bangor Business School, said:
“The initial fallout of Brexit—such as currency drops and market instability—was immediate. But our research shows the longer-term damage, especially to local economies dependent on EU trade. The evidence underscores the need for region-specific policies to help SMEs in these vulnerable areas recover.”

Professor Rasha Alsakka, who leads the Credit Risk Research Group at Bangor Business School’s Institute of European Finance, added:
“SMEs are the backbone of the UK economy, especially in rural regions. If the government is serious about levelling up, it must act on this data to ensure that all areas have fair access to finance.”

Dr Noemi Mantovan, Senior Lecturer in Economics at the University of Liverpool, said that access to finance is critical for SME resilience:
“Despite being smaller and often perceived as riskier, rural SMEs can be just as innovative and successful as urban ones. Ensuring they can secure loans is vital for job creation and sustainable economic growth.”

The full study can be accessed here: ScienceDirect – Journal of Rural Studies

 

Business

Cardigan Bay Properties marks five years of growth

Published

on

Award-winning estate agency founded during Covid expands with new office and national recognition

A WEST WALES estate agency launched at the height of the Covid pandemic is celebrating five years in business after building a strong reputation across the region.

Cardigan Bay Properties was founded in February 2021 by Helen Worrall, from Glynarthen, and Tania Dutnell, from Betws Ifan, with the aim of offering what they describe as a more personal, customer-focused approach to buying and selling homes.

Based at Aberporth Technology Park near Aberporth and serving the wider Cardigan area and beyond, the firm says it has grown steadily, moving into larger premises, expanding its team and collecting a string of industry awards.

Among its recent accolades are Residential Estate Agency of the Year at the 2025 Welsh Estate Agency Awards and a Client Service Excellence Award at the SME UK Enterprise Awards.

The founders say their success has been built on transparency and customer service.

Cardigan Bay Properties opened a new office in the summer of 2025 (Pic: Supplied)

Tania Dutnell said: “We started the business because we felt buyers and sellers deserved a better, more personal experience. Five years on, we’re incredibly proud of what we’ve achieved and the trust our clients place in us.”

The company reports almost entirely five-star online reviews and says word-of-mouth recommendations have helped drive much of its growth.

Helen Worrall added: “We’re grateful to our families, our team and our clients for supporting us. Moving into our new office and seeing the business develop has been a real milestone, but we still have plenty of plans for the future.”

Team photo: Staff at Cardigan Bay Properties, which is celebrating five years in business (Pic: supplied)

Alongside residential and commercial sales, the agency offers accompanied viewings, video tours, digital marketing tools and online portals for sellers to track viewings and offers.

The business also supports local causes and is backing the West Wales Domestic Abuse Service during 2025 and 2026.

For appointments or enquiries, the team can be contacted on 01239 562 500 or via their website.

 

Continue Reading

Business

Davies and Kurtz to host business advice surgery after strong demand from firms

Published

on

A JOINT business advice surgery will take place later this month after more than one hundred and fifty local firms signed up to an online forum highlighting growing concerns over business rates and rising costs.

The event has been organised by Samuel Kurtz and Paul Davies, who say they were inundated with requests for further help following their recent virtual session on the business rates system.

More than one hundred and fifty businesses from across Pembrokeshire and west Wales registered for the online forum, raising questions about the Valuation Office Agency revaluation process, how rateable values are calculated and what elements can be challenged.

Both Members of the Senedd said the scale of engagement showed a clear appetite for practical, one-to-one advice.

The in-person surgery, scheduled for February 17, will give business owners the chance to discuss their individual circumstances confidentially and seek tailored guidance directly from their elected representatives.

Samuel Kurtz said the response to the forum demonstrated the pressure many firms are under.

“The response showed just how strong the demand is for clear advice and constructive engagement,” he said. “With more than one hundred and fifty registrations, it was evident that many businesses want the opportunity to explore their own situations in greater depth, and that is exactly what this advice surgery is designed to provide.

“The scale of engagement” showed “a clear appetite for practical, one-to-one advice”, Davies and Kurtz told The Herald

“Businesses in west Wales are at a cliff edge. Employers tell us the current business rates system is placing real strain on high streets at a time when they are already facing rising staffing, energy and supply costs. Policy should encourage investment and growth, not penalise it.”

Paul Davies added that the session would help them build a stronger case with ministers.

“We want to do everything we can to support businesses in Pembrokeshire and this surgery is a valuable opportunity to listen to their specific concerns and make representations on their behalf,” he said.

“Firms are telling us they feel like they are walking a tightrope. Whether it is rates increases, higher overheads or workforce challenges, the strain is clear. Taking real-world evidence directly to the Welsh Government is the best way to push for change.”

Businesses interested in attending are encouraged to contact the pair’s constituency offices to book an appointment.

Cover image

Offering support: Paul Davies MS and Samuel Kurtz MS (Pic: Supplied)

 

Continue Reading

Business

Minimum alcohol price to rise by 30 per cent as retailers warn of border impact

Published

on

Shopkeepers say hike may push trade into England while ministers insist policy will save lives

INDEPENDENT retailers have reacted cautiously after the Welsh Government confirmed a 30 per cent increase to the minimum unit price (MUP) for alcohol in Wales.

From October 2026, the price will rise from 50p to 65p per unit, meaning some of the cheapest drinks will see noticeable increases. A can of beer currently sold for £1 will cost at least £1.30 under the new rules.

The change brings Wales into line with Scotland, where a similar pricing structure already applies.

The Federation of Independent Retailers (the Fed), which represents many small convenience stores and off-licences, said it does not oppose the move in principle but warned it could hurt businesses near the border.

Clive Birkby, the Fed’s Wales president, said: “The Fed has raised no objection to this change which mirrors that in Scotland. In the past, supermarkets have sold alcohol as super cheap loss-leading products – something which is damaging to small shops and also to those advocating responsible consumption.

“We have highlighted concerns, though, for how this policy will impact our members who are close to the border with England, given that England does not have MUP. We will continue to monitor the impact of this policy change and what it might do to reduce problem drinking and the health and social impact of that.”

He added that both the Welsh Government and Westminster should invest more in public education about responsible drinking.

Minimum pricing was first introduced in Wales in 2020. Last year the Fed responded to a government consultation on the proposed increase, calling for clearer guidance for retailers and better communication ahead of any changes.

Announcing the rise, mental health and wellbeing minister Sarah Murphy said the evidence showed minimum pricing reduced alcohol-related harm.

“Cheap, high-strength alcohol disproportionately affects hazardous and harmful drinkers,” she said. “The evidence is clear – minimum unit pricing works. We have taken a decision which will save lives and help protect many people from the harms caused by drinking too much alcohol.”

However, Welsh Conservatives criticised the policy, arguing it will simply increase costs for shoppers during a continuing cost-of-living squeeze.

The new pricing rules will come into force across Wales in October next year.

 

Continue Reading

Crime5 hours ago

Teenager remanded after teacher injured in knife incident at Milford Haven school

Fifteen-year-old charged with Section 18 grievous bodily harm and possession of a bladed article appears before Swansea magistrates A FIFTEEN-YEAR-OLD...

Crime13 hours ago

Police confirm teacher was stabbed at school as teenager appears in court

15-year-old charged with Section 18 GBH with intent and possession of a bladed article on education premises POLICE have confirmed...

Crime1 day ago

Man arrested for murder following death of pensioner in Pembroke Dock

Officers called to Hawkstone Road property as investigation continues and residents urged to come forward DYFED-POWYS POLICE officers have launched...

Crime1 day ago

Teacher discharged as Milford School to reopen Monday after serious assault

Deputy head praises ‘calm and professional’ staff and pupils during lockdown A TEACHER injured in a serious incident at Milford...

Crime2 days ago

Teacher discharged as police step back from Milford Haven school after assault

Teenager remains in custody as school closes and patrols increased to reassure community POLICE have confirmed they are no longer...

Crime2 days ago

Teacher injured and teenager arrested for attempted murder at Milford Haven School

Lockdown triggered as pupil allegedly attacks staff member with weapon – boy, 15, held on suspicion of attempted murder A...

international news3 days ago

Pembrokeshire women conquer Atlantic in epic 3,000-mile row

PEMBROKESHIRE’S all-female rowing crew Merched y Mor have completed one of the hardest endurance challenges on the planet after crossing...

Crime3 days ago

Sex offender jailed after living off grid in Pembrokeshire and refusing to register

Man walked into police station after months avoiding authorities A CONVICTED sex offender who told police he intended to live...

Crime3 days ago

More rape and sexual assault survivors to get right to challenge dropped cases

New review scheme to be rolled out across CPS Cymru-Wales following successful pilot SURVIVORS of rape and serious sexual assault...

Crime4 days ago

Man spared jail after admitting child abuse image offences

Police seized devices after intelligence linked Pembrokeshire address to illegal cloud storage accounts A 23-YEAR-OLD Pembrokeshire man has avoided immediate...

Popular This Week