Connect with us
Advertisement
Advertisement

Business

Pembrokeshire businesses benefit as Development Bank reaches £1bn milestone

Published

on

MORE than 1,399 firms across Mid and West Wales have received over £460 million to help them start up and scale up, as the Development Bank of Wales confirms it has now passed a landmark £1 billion in investment since its creation in 2017.

Supported by the Welsh Government, the Development Bank says £323.4 million has been invested directly into Mid and West Wales businesses, unlocking a further £143.2 million in private sector co-finance. The bank’s total investment programme has supported 51,089 jobs and generated £5.8 billion in economic value across Wales.

Since 2017, a total of 4,699 companies throughout Wales have benefited from 5,184 investments. This includes £89 million for 292 innovative tech ventures and £275 million for Welsh property developers, helping to build 2,302 new homes.

Pembrokeshire is among the counties that have seen direct, tangible benefits. Rum producer Barti received a £200,000 investment from the Development Bank and a £27,000 loan from the Pembrokeshire Lottery to expand production. The funding was provided through the £500 million Wales Flexible Investment Fund.

Narberth-based Wild Lakes used a £40,700 Green Business Loan to move to solar power via the Welsh Government-backed scheme, helping the business reduce its carbon footprint.

Barti Director Jonathan Williams said: “This is the golden quarter for our industry, so it was important that we had the working capital required to purchase the stock needed to fulfil the increasing demand from Tesco and Co-op customers. We are also excited to be developing new products as well as exploring export opportunities for our product range.”

Mark Harris, co-founder at Wild Lakes, said: “As an outdoor business in one of Wales’ most impressive natural environments, our environmental impact is at the forefront of everything we do. The support we had from the Development Bank meant we were able to switch from older forms of power to new, cleaner energy, and gives us the infrastructure we need to make similar improvements in future.”

Welsh Government Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, 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.”

First Minister Eluned Morgan said the milestone demonstrated the strength of Welsh businesses. She added: “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.”

Since its establishment, the bank has provided £428 million in growth funding to 3,675 businesses and supported Welsh entrepreneurship with £61 million for 787 start-ups. There have also been 341 succession deals worth £138 million, helping to keep long-standing businesses in Wales. Thirty successful exits have generated a further £31 million.

Chair of the Development Bank, Hon. Group Captain Sally Bridgeland FIA, said: “Our investments have supported thousands of businesses at every stage of their growth journey. These results demonstrate the power of sustainable capital to deliver long-term economic value, bringing ambitions to life and delivering benefits for people and communities across Wales.”

Chief Executive Giles Thorley added: “This achievement is a testament to the hard work and ambition of the businesses and entrepreneurs we’ve supported and to the dedication of my colleagues. By leveraging £636 million in private co-investment and deploying recyclable funds, we’re building a legacy of growth and resilience for future generations.”

Investment breakdown

• 5,184 investments across 4,699 businesses
• Average deal size: £190,000
• Funding mix: £564m in debt; £138m in equity; £298m in property

 

Business

Mini golf attraction to be built on historic Saundersfoot harbour ship

Published

on

PLANS for a mini-golf tourist attraction on part of a Pembrokeshire seaside village heritage family venue have been approved, with relief expressed at the proposal after a previous ‘pirate’ rum bar scheme was refused.

In an application recommended for approval at the January 28 meeting of Pembrokeshire Coast National Park’s development management committee, Lowri Silver sought permission for a change of use of the ground floor area of Saundersfoot Harbour’s Coastal Schooner to an indoor nine-hole mini golf tourist attraction.

The schooner – a prominent feature on the village’s National Events Deck – was built to showcase Saundersfoot’s maritime heritage and is part of the £10m Wales Coastal Centre project.

The building is a replica of a traditional coastal schooner vessel which operated from the harbour during the coal mining era to transport coal from Saundersfoot.

The interpretation centre closed in October 2024.

Last July, an application by Jonathan Thomas of ‘Schooner’ for a pirate-themed bar at the site was refused at the national park development management committee.

That rum bar scheme had raised concerns from the community council, saying it was “considered to be at odds with the current family venue and heritage elements”.

An officer report recommending refusal said that scheme was considered to fall outside the seaside village’s defined retail area and the impact on the amenity of the area and especially nearby residential dwellings.

At that meeting, Cllr Alec Cormack, one of the local county councillors, and member of the community council, called for a more family-friendly scheme for the site.

A supporting statement accompanying the new mini golf application says: “The maritime theme will be maintained as the attraction will maintain many of the existing interpretation information and the maritime theme.  The Schooner operated as an interpretation centre and high ropes offer for a year from October 2023 to October 2024.

“It has been open through the summer of 2025 on Tuesday and weekends. However, it has proved not to be a viable option to run the Schooner as an interpretation centre alone and an additional use is sought to maintain the interpretation element of the Schooner and to offer an all-weather attraction for local people and residents alike.”

The latest proposal was “strongly supported by Saundersfoot Community Council, particularly regarding the provision of an indoor family attraction; this was a unanimous decision,” a report for committee members recommending approval said.

It added: “The proposed works will apart from planters, be fully contained within the existing structure and provide an indoor facility for residents and visitors, which is considered to enhance the visitor economy of the area, not just through the tourist season but also outside of the peak season, with the facility being an indoor facility with scope for all year-round operation.”

At the January meeting, approval was moved by Dr Rosetta Plummer, who was seconded by Cllr Simon Hancock, Dr Plummer expressed her relief at the application before members compared with what was previously proposed.

Fellow committee member Dr Madeleine Havard said: “I’m really pleased the hard-won interpretation centre is being retained; Saundersfoot has really done a great job in promoting this site, to have a family friendly attraction indoors in Pembrokeshire that has got information about the heritage as well certainly means a great deal to people.”

The application was unanimously backed by committee members.

 

Continue Reading

Business

Eight-year prison sentence after vehicle stop uncovers drugs worth over £150,000

Published

on

A ROUTINE vehicle stop by roads policing officers has led to an eight-year prison sentence after more than £150,000 worth of illegal drugs were discovered in a car in Pembrokeshire.

On Friday, January 2, officers from the Roads Policing Unit stopped a grey Seat Ateca on Hoyland Road, Pembroke. The vehicle was being driven by 43-year-old Dean Evans.

During the stop, Evans told officers they would find “stuff” in the car. He and the vehicle were subsequently searched under the Misuse of Drugs Act.

A search of the boot uncovered a cardboard box containing a one-kilogram block of cocaine and ten half-kilogram packages of herbal cannabis. The street value of the drugs was estimated to be well in excess of £150,000.

Evans was arrested at the scene on suspicion of possession with intent to supply controlled drugs. He was later charged with possession with intent to supply Class A and Class B drugs.

The 43-year-old pleaded guilty at Swansea Magistrates’ Court on Saturday, January 3.

On Thursday, January 28, Evans was sentenced at Cardiff Crown Court to eight years’ imprisonment for possession with intent to supply cocaine and cannabis.

DC Jones, from Dyfed-Powys Police’s Serious Organised Crime Unit, said: “Tackling the supply of illegal drugs is a priority for Dyfed-Powys Police, and the misery that illegal drugs bring to local communities will not be tolerated.

“We welcome the sentence passed to Dean Evans, given the large quantity of harmful drugs he was caught trafficking into Pembrokeshire.

“This sentence should serve as a stark warning to anyone tempted to become involved in the illegal drugs trade in Dyfed and Powys.”

 

Continue Reading

Business

Councillor condemns closure of Haverfordwest Santander branch

Published

on

A PEMBROKESHIRE councillor has spoken out after learning that the Santander branch in Haverfordwest is set to close later this year, warning the decision will have a serious impact on local residents, families and businesses.

The bank’s Bridge Street branch is due to close on Monday (May 5) as part of a wider UK restructuring programme.

Councillor Thomas Baden Tudor said he was “lost for words” and urged the bank to reconsider, describing the closure as devastating for customers who rely on face-to-face services.

Santander says the decision is driven by declining footfall, with more customers banking online, and that services will remain available via digital platforms and Post Office counters.

However, the announcement follows a steady erosion of high-street banking in Pembrokeshire. The Herald recently reported that Haverfordwest’s former Halifax branch is set to reopen as a nail salon.

In what appears to be a serious failure of planning, there is now not a single bank branch left anywhere in south Pembrokeshire. Towns including Tenby, Pembroke and Pembroke Dock are all without face-to-face banking facilities.

North Pembrokeshire has also been affected, with Fishguard and St Davids now lacking bank branches.

Pembrokeshire is understood to be left with just four bank branches in total — Nationwide in Milford Haven, and HSBC, NatWest and Lloyds Bank in Haverfordwest.

 

Continue Reading

Crime2 hours ago

Manhunt intensifies after woman seriously injured in Carmarthen park stabbing

Police say suspect known to victim as attempted murder investigation continues A MAJOR police manhunt is under way after a...

Health1 day ago

Consultation reveals lack of public trust in health board

EARLIER this week, Hywel Dda UHB published the results of a consultation into the future configuration of its clinical services....

Community1 day ago

Specialist team searches River Teifi in ongoing hunt for missing man

A SPECIALIST search team has carried out a renewed and highly technical search of the River Teifi in Cardigan as...

News2 days ago

Wales’ first minister keeps distance from Starmer before May vote

Senedd race not Westminster THE FIRST MINISTER has moved to draw a clear dividing line between the Welsh Labour campaign...

News2 days ago

Kurtz raises Gumfreston flooding in the Senedd as petition deadline nears

LOCAL Senedd Member Samuel Kurtz has raised the long-running flooding problems affecting the B4318 at Gumfreston in the Senedd, as...

Community3 days ago

Anchor re-dedicated to mark 30 years of US–Haverfordwest ties

Service honours shared history, service and friendship on the Quayside A SYMBOL of Haverfordwest’s wartime and Cold War connections with...

Business3 days ago

Senedd urged to act as Welsh pubs fall further behind England on business rates

Industry leaders warn of closures and job losses as pressure mounts on ministers to pass on funding PUBS across Wales...

Crime3 days ago

Haverfordwest man jailed for online death threat

A Haverfordwest man has been sentenced to a year in prison after sending a threatening message online. Michael Carruthers, 34,...

Community3 days ago

Storm Chandra: Morning impacts across Pembrokeshire

HEAVY overnight rain and strong winds brought by Storm Chandra have caused disruption across Pembrokeshire, with fallen trees and localised...

Business4 days ago

Business voices heard as Kurtz and Davies urge action on business rates

LOCAL businesses from across West Wales have voiced serious concerns about the impact of business rates at a dedicated roundtable...

Popular This Week