Business
Almost 1,400 Mid and West Wales firms receive over £460m to start up and scale up
Development Bank of Wales reaches £1bn investment milestone since 2017
ALMOST 1,400 businesses across Mid and West Wales have benefitted from more than £460 million in backing from the Development Bank of Wales, as the organisation today announced it has passed the £1 billion investment mark since its launch in 2017.
Supported by the Welsh Government, the Bank confirmed that £323.4 million has been invested directly into 1,399 businesses in the region, unlocking a further £143.2 million in private sector co-finance. Across Wales, the £1 billion milestone reflects 5,184 individual investments into 4,699 businesses.
The combined impact is significant: the investment has supported 51,089 jobs and generated £5.8 billion in jobs-based GVA – an almost sixfold return in economic value. In addition, the Bank’s activity has stimulated £636 million in private sector co-investment.
Since 2017, £89 million has been allocated to 292 innovative tech ventures, while £275 million has supported Welsh property developers to build 2,302 new homes.
Local companies include Mentrus Developments, which received a seven-figure loan to help deliver Maes y Teirw in Carmarthen. The 2.2-acre brownfield site features 17 four and five-bedroom homes and four three-bedroom affordable properties, all built with solar panels and air-source heat pumps.
Rebecca Evans, the Welsh Government Cabinet Secretary for Economy, Energy and Planning, said: “If companies are to grow, it’s vital they can access finance. Since we set up the Development Bank in 2017, it has acted as a social impact investor, making sure its investments support our priorities, from encouraging entrepreneurship to building a greener economy.
“Reaching the £1 billion milestone makes me proud of the Bank’s role in driving economic development. By securing 50,000 jobs, the Bank shows how targeted investment can open up opportunities and support inclusive communities across Wales.”
First Minister Eluned Morgan added: “The Development Bank is part of the support we offer for companies that want to expand and innovate. Wales is a great place to set up a business or invest in projects and this is part of the message I shall be sharing with delegates from across the globe at the Wales International Summit in December.”
The Bank’s investments span all stages of growth, including £428 million to support 3,675 expanding businesses, £61 million for 787 start-ups, and £138 million across 341 succession deals designed to keep established firms rooted in Wales. Thirty successful exits have generated more than £31 million during the period.
Hon Group Captain Sally Bridgeland FIA, Chair of the Development Bank, said: “Our investments have supported thousands of businesses at every stage of their growth journey — driving productivity, innovation, and job creation.”
Giles Thorley, Chief Executive of the Development Bank, said the milestone reflected “the hard work and ambition” of Welsh businesses and staff: “By leveraging £636 million in private co-investment and deploying recyclable funds, we’re building a legacy of growth and resilience for future generations. £1 billion invested in Welsh businesses is £1 billion driving Wales forward — fuelling ambition, powering innovation, and unlocking opportunity in every town and city across our nation.”
Investment breakdown
• 5,184 investments across 4,699 businesses
• Average deal size: £190,000
• Funding mix: £564m debt, £138m equity, £298m property
Business
Jewellery roadshow in Lamphey today with cash offers for valuables
A TRAVELLING jewellery and antiques roadshow is in Pembrokeshire today (Tuesday, Mar 17), offering free valuations and on-the-spot cash offers for a wide range of items.
The event is being held at the Best Western Lamphey Court Hotel & Spa and is open until 6:00pm this evening.
Organisers say they are looking to buy “all items of interest”, including gold, silver, rings, watches, coins, military memorabilia and diamond jewellery. Broken jewellery is also accepted, along with items in any condition.
The promotional material states there are no fees, no commissions and no obligation to sell, with free appraisals available to anyone who brings items along.
They are also advertising interest in vintage items such as old watches, scientific instruments, medal groups and even classic cars and motorbikes.
A follow-up event will take place tomorrow (Wednesday, Mar 18) at Hotel Mariners in Haverfordwest, running from 10:00am until 9:00pm, with late appointments available.
A third and final stop is scheduled for Thursday (Mar 19) at Wolfscastle Country Hotel, open from 10:00am until 6:00pm.
Organisers can be contacted on 07544 074 549, and also invite people to send photos via WhatsApp for a preliminary valuation.

Top prices paid: The jewellery and antiques roadshow is in Lamphey today before moving on to Haverfordwest and Wolfscastle (Pic: supplied).
Business
Welsh businesses secure £436m in export sales with government support
WELSH businesses have secured £436 million in new export sales over the past five years with support from the Welsh Government, the Cabinet Secretary for Economy Rebecca Evans said at the Explore Export Wales conference in Llandudno on Tuesday (Mar 18).
Exports account for more than a third of Wales’ GDP and remain central to the Welsh Government’s ambition to grow the economy and create new jobs.
Since the launch of the Export Action Plan in 2020, nearly 1,500 Welsh businesses have been supported to export for the first time or expand into new international markets. During that time the Welsh Government has organised 89 trade missions, taking 844 business representatives to markets around the world.
International Trade Advisors have also held around 6,000 face-to-face meetings with businesses and delivered more than 430 export market research projects. Over 600 overseas business development visits have been supported, including trips to Kenya, Vietnam, Argentina and South Korea.
The Export Cluster programme now provides peer-to-peer support across six priority sectors and has attracted more than 350 members. Meanwhile the New Exporter Programme has supported 68 businesses taking their first steps into international markets, with a sixth intake now open.
One company benefiting from the programme is Reacta Healthcare, a life sciences business based in north Wales. The firm develops specialist allergy diagnostic products used in clinical trials around the world.
Exports now account for 100 per cent of Reacta’s business. Over the past year the company has expanded its workforce from fifty to eighty employees and secured new clients in Europe and the United States.
The business is now preparing to supply these contracts over the next three years, representing significant growth in both volume and revenue. Reacta is also expanding its Deeside site by 50 per cent with a new facility next to its existing premises.
Belinda Mortell, Head of Commercial at Reacta, said the company’s expansion reflected growing global demand.
She said: “We have recently secured our largest customer contract to date, marking a significant milestone for the business. The growth we’ve seen over the past year, from expanding our team to opening a new facility, is a direct result of increasing international demand.
“The support we’ve received from the Welsh Government has been invaluable and has helped us enter new markets with confidence as we strengthen our international presence.”
Last week the Welsh Government also launched its trade missions programme for 2026-27, aimed at helping businesses showcase their products and services overseas.
The programme will focus on sectors including clean energy, advanced manufacturing, life sciences, creative industries and technology. Trade missions are planned across Europe, North America, Asia and the Middle East as Wales seeks to boost exports, investment and economic growth.
Rebecca Evans said: “Exporting makes a real difference to businesses across Wales, driving economic growth and creating jobs.
“That is why we are investing £3.5 million each year to support Welsh businesses on their export journeys.”
Business
Haverfordwest Halifax bank nail bar scheme refused
A CALL to convert a Pembrokeshire town centre former bank to a nail bar has been refused by county planners.
Huw Tuyen Nguyen, through agent Hayston Developments & Planning Ltd, sought permission for a change of use of the former Halifax bank at Grade-II-listed 10 Victoria Place, in Haverfordwest’s conservation area, to a nail bar, along with a related listed building consent.
Halifax closed its Haverfordwest branch back in 2024, leaving it with no more branches in the county.
A supporting statement accompanying the nail bar application at the three-storey building said: “The previous use of the building, a bank operated by the Halifax, ceased a few years ago and remains vacant making no contribution to the vitality or viability of the town centre.
“This application seeks to put the ground floor to an alternative commercial/retail use and which together with some internal and external alterations, also seeks to convert the upper two floors into a single high-quality flat. The upper floors have largely been under-utilised in the past. As such, the proposal would make a positive contribution to the town centre.”
It went on to say of the change of use to a nail bar: “This part of the application would allow the relocation and expansion of a professional service facility to serve Haverfordwest and the surrounding areas. This forms the basis of aspirations to grow the business, both in the immediate short term, and in the future as the business continues to grow.
“The applicant has explained that the current business is a nail salon which has been trading for some 15 years but under a different management. The applicant has had the business since January 2022.
“The business hours would be 9 am to 6 pm Monday to Saturday but closed on Sundays and which would employ 2/3 people.”
The application was refused on the grounds “the proposed external alterations, by virtue of the chosen materials, finish and detailing, represent poor design that fails to respect the historic character of the listed building and the wider terrace”.
The refusal went on to say: “The works do not respond appropriately to the building’s significance and would result in a harmful intervention that undermines its special architectural and historic interest.
“Furthermore, the proposal fails to satisfy the statutory duty to preserve or enhance the character and appearance of the Haverfordwest Conservation Area, and to pay special regard to the desirability of preserving the listed building and its features of architectural and historic interest.”
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