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Welsh business confidence rises but firms face cost squeeze

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PEMBROKESHIRE BUSINESSES WARNED OF PRESSURE FROM FUEL, TRANSPORT AND SUPPLIER COSTS

WELSH business confidence improved in April, but firms are still facing falling orders, job cuts and rising costs, according to the latest NatWest Wales Growth Tracker.

The report, compiled by S&P Global, found that confidence among Welsh businesses picked up from March’s recent low, amid hopes of stronger demand over the coming year.

However, the overall picture remains challenging. The Wales Business Activity Index rose to 47.9 in April, up from 46.2 in March, but remained below the 50 mark which separates growth from contraction.

For Pembrokeshire businesses, particularly those in tourism, hospitality, transport, food, farming supply chains and small-scale manufacturing, the figures point to continued pressure from higher fuel, materials and delivery costs.

The report found that output and new orders were still falling, although at a slower pace than in March. New sales declined for a third month running, with firms blaming weak customer demand and wider economic uncertainty.

Employment also fell sharply. Welsh businesses recorded the steepest drop in workforce numbers of any of the 12 UK nations and regions monitored, with firms cutting staff or not replacing workers who had left.

Cost pressures were a major concern. Operating expenses rose at the fastest rate since November 2022, driven by higher fuel, transportation and supplier costs. Firms increased their own prices in response, but not by enough to fully offset the rise in costs.

Jessica Shipman, Chair of the NatWest Cymru Board, said: “Welsh business confidence ticked higher on hopes of stronger customer demand and planned investment in building resiliency.

“However, we saw contractions in output and new orders soften during April, but underlying business conditions told a challenging tale. A further drop in new sales led to sharper falls in backlogs of work and employment, as firms sought to cut costs and streamline processes.”

She added that pricing remained a key concern, with higher fuel and transport costs putting further pressure on businesses.

The report also found that Welsh export conditions improved only slightly, with weaker performance in Germany and France weighing on the outlook.

For Pembrokeshire, where many businesses rely on seasonal trade, logistics, hospitality and supply chains linked to agriculture, energy and the port economy, the figures suggest that confidence may be recovering, but margins remain under pressure ahead of the summer trading period.

 

Business

Haverfordwest Creamery wins top honours at world’s largest cheese show

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First Milk site secures four major trophies as co-operative celebrates 26 awards at International Cheese & Dairy Awards

FIRST MILK’S Haverfordwest Creamery has celebrated major success at this year’s International Cheese & Dairy Awards, after helping the farmer-owned co-operative secure 26 awards at the world’s largest cheese show.

First Milk won eight gold medals, 11 silver medals, one bronze medal and six major trophies at the prestigious awards, with cheese produced at Haverfordwest Creamery securing four of the competition’s top honours.

The Pembrokeshire creamery won the CHR Hansen Trophy for Champion Double Gloucester, the Tetra Pak Tebel Award for Best Extra Mature Creamery Block Cheddar, the ICDA Award for Best Medium Creamery Block Cheddar and the First Milk Past Masters Trophy.

The results underline the quality and consistency of the cheese produced at the Haverfordwest site, which continues to play a key role in First Milk’s award-winning cheesemaking operation.

Held annually, the International Cheese & Dairy Awards attracted its highest number of entries in several years, with many of the creamery cheddar classes receiving between 30 and 40 entries.

First Milk was recognised across a wide range of cheddar and regional cheese categories, including Double Gloucester, Red Leicester, Welsh cheese, vegetarian cheese and English creamery cheddar.

Jack Eade, Customer Quality Manager at First Milk, said the awards reflected the hard work of teams across the business.

He said: “These awards are incredibly hard won and reflect the dedication, expertise and passion of everyone involved in producing our cheese.

“To receive recognition across so many categories at one of the world’s most respected cheese competitions is something everyone at First Milk can be enormously proud of.

“While our grading team selects and prepares the entries, none of these achievements would be possible without the commitment of our farmer members producing exceptional quality milk, and the highly skilled teams at our creameries transforming it into consistently award-winning cheese.”

The latest success continues First Milk’s long-standing record at the International Cheese & Dairy Awards and reinforces Haverfordwest Creamery’s reputation as one of the leading producers of award-winning British cheese.

Photo caption:

Rod Addy, Director General of the Provision Trade Federation, with First Milk’s Matthew Hooper and Dawn Mason at the International Cheese & Dairy Awards

 

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Lamphey camping and glamping farm expansion approved

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PLANS to expand facilities at a Pembrokeshire camping and glamping farm which hosts outdoor festivals have been given the go-ahead by Pembrokeshire County Council.

Dewslake Camping Limited, of Dewslake Farm, The Ridgeway, Lamphey, in an application through agent Argent Architects, sought permission for a change of use of the main barn at the farm to provide support facilities for camping and events.

The application was recommended for approval at the June 30 meeting of Pembrokeshire County Council’s planning committee.

A supporting statement accompanying the application said: “While remaining a working farm, camping, glamping and facilities for dining and refreshments are among the services provided. Outdoor festivals are held on the site periodically during the summer season.

“The main barn is centrally located within the farm and serves as overflow storage for the various activities and events offered at Dewslake.  The campsite’s sanitary facilities are located in temporary structures at the perimeter of this building.

“The applicant wishes to expand the facilities offered on the site. The barn has the spatial capacity to accommodate a range of different events, both commercial and private. The idea is to bring in the operational capacity to service functions and events in the building and on the wider site, in the form of overflow catering, sanitary facilities and office and reception space.”

It says it is intended to create “a building that is inclusive, easy and enjoyable in use for all,” with wheelchair parking in the area currently occupied by the temporary facilities.

It says further expansions to Dewslake are also planned.

“The growing business model requires considerable on-site management and maintenance.  The long-term plan is greatly invested in ecological enhancements and trades on this in the marketing approach taken in promoting the campsite.

“This approach requires a particular intensity in the management of the land, which when coupled with the day-to-day running of the campsite, increases the need for a round-the-clock management presence.

“The applicant is therefore intending to make a separate pre-application enquiry for the addition of a permanent farmhouse to serve this function.”

An officer report for planners said: “The proposal involves the comprehensive internal reconfiguration of the building and associated external alterations. The footprint of the existing structure would be largely retained, with development primarily focused on enclosing and extending into an existing open lean-to section along the building’s side (west) elevation.”

Approval was moved by Cllr Alec Cormack, described it as “an excellent use of the building,” with vice-chair of the committee Cllr Simon Hancock describing it as an “excellent application,” which was “entirely appropriate in the site”.

The application for conditional approval was unanimously approved by committee members.

 

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Welsh firms named among Britain’s fastest-growing companies

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Engineering, fintech and beauty brands feature in national growth rankings

THREE Welsh businesses have been named among Britain’s 100 fastest-growing companies, highlighting the growing diversity of Wales’ scale-up economy.

Avantis Group, an engineering business delivering marine and offshore energy upgrade projects, was the highest-ranked Welsh company in the ORESA Executive Search Growth Index 2026.

The company placed 43rd nationally after achieving two-year compound annual revenue growth of 105.9%.

It was joined on the list by fintech firm ANNA Money, ranked 56th, and fast-growing beauty brand Hair Syrup, ranked 67th.

Orlando Martins, founder of Growth Index, said the results showed the strength and breadth of Wales’ business community.

He said: “Wales continues to produce ambitious companies across a wide range of sectors.

“What is particularly encouraging is the range of businesses, both in the top 100 and among the companies that narrowly missed out, from engineering and fintech to consumer brands.”

Now in its fifth year, the ORESA Executive Search Growth Index ranks the 100 fastest-growing companies in the UK.

This year’s list points to the resilience of Britain’s scale-up economy, with the average company achieving compound annual revenue growth of 136.1% over two years.

Together, the Growth Index 100 generated more than £11 billion in annual revenues, with businesses on the list ranging from data centres and art galleries to GB News and Popeyes UK.

Financial services remained the largest sector represented, accounting for a quarter of all companies featured.

Healthcare also continued to rise, helped by strong performances from biotechnology businesses, while retail enjoyed a resurgence after several more difficult years.

The report also notes that pure-play AI businesses are beginning to make a visible impact on the rankings, although they have not yet come to dominate the list.

The Growth Index is compiled through independent analysis of Companies House data. Growth is measured by two-year compound annual growth rate in revenues, with companies required to have a minimum base-year turnover of £100,000 and a minimum final-year turnover of £5 million.

 

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