Business

New government minister declares Wales is ‘open for business’

Published

1 day ago

June 4, 2026

WALES is “open for business”, according to the new minister for enterprise, connectivity, and energy.

Former Plaid Cymru leader, Adam Price, who was appointed to the role last month, told Senedd colleagues on Tuesday, June 2 that the new Welsh Government will be “placing productivity at the heart of its approach”.

In his new role, Mr Price has responsibility over areas such as tourism, Business Wales, and international trade policy and promotion, including overseeing matters relating to the UK/EU Trade. He is also responsible for economic strategy and policy.

He said: “Productivity is the foundation of long-term prosperity. It underpins wages, living standards and competitiveness.

“Today, Wales continues to lag behind, with productivity around 15% lower than the UK average. But productivity is not an abstract measure; it’s about raising incomes, creating better jobs, and ensuring prosperity is shared all across Wales.”

Mr Price said the Welsh Government would be adopting a new approach, which he described as a “mission to tackle productivity and a target to reduce Wales’s productivity gap by half with the UK within ten years”.

Concluding his speech to the Senedd, he said: “This is a moment of opportunity. Wales has the assets, the talent, and potential to succeed. What is now needed is leadership and delivery.

“It requires focus and a relentless emphasis on delivery. It requires a government prepared to make choices and act with pace.

“And it requires a clear mission, one that puts productivity, people and firms at its core. That is our mission.”

Jason O’Connell, Reform’s shadow minister for economy and transport, challenged Mr Price on his plans to establish a new national development agency.

He questioned plans to bring back a “failed” Welsh development agency and said: “History tells us that it was another unnecessary bureaucratic quango that was linked to illegally inflated redundancy payments, where directors flew first class around the world while communities across Wales were left behind.

“And this is Plaid’s answer to the economic decay that infects our towns and valleys. The same model, the same results, not even new branding.”

The shadow minister acknowledged the previous Welsh Development Agency created jobs but claimed it also created a “hollowed-out Welsh economy”.

Mr O’Connell said his party would instead allow “no additional bloated quangos, no new layers of bureaucracy and no abdication of ministerial responsibility to unnamed and unaccountable civil servants”.

In response Mr Price expanded upon his reasoning for creating the new agency and said: “We want to be evidence-led, and the evidence from right across the world shows pretty conclusively, if you ask pretty much any leading economist in this area, that development agencies are the tried-and-tested tool for any nation, region or anywhere else that has driven up the kind of trajectory in terms of productivity growth that I’ve described.

“Is it the only thing that you should do? Absolutely not. We’re not going to achieve it just through the development agency, but it’s a pretty necessary tool in the toolbox, based on the experience elsewhere.”

Labour’s spokesperson for employment, equalities, and economic transformation, Shav Taj, also pressed Mr Price on his plans.

She said: “We’ve heard a lot about the government’s plans, of course, about the new Welsh development agency, but people aren’t asking for promises – they want action, and they want it now.”

Ms Taj, part of the new cohort of Senedd Members following last month’s election, continued: “Creating a new sort of agency takes time, it takes effort, it takes money and it takes focus, of course, and people in Wales don’t want or need quangos or structures just for the sake of it.

“What we need is more well-paid, skilled and secure work in every single part of our country, because right now families are genuinely feeling the pressure. Making ends meet, paying the bills – that is the stark reality.”

Ms Taj pointed to the previous Labour government’s work and said: “In the 12 months leading up to the Wales investment summit, Wales attracted £4.6 billion of inward investment”.

“We know that Plaid talk about their ambition for Wales, and, of course, we all share that.

“The reality is: will those actions then match it? Can the cabinet secretary tell us whether his new development agency will beat this figure?”

Mr Price responded: “I think that it’s important to bring us back, isn’t it, to the focus of today, which is the announcement of a goal, a target, which we lacked for 20 years.

“Nobody can absolutely predict the future with 100% certainty. It’s not possible. But one thing we can predict: if you don’t have a goal at all, if you don’t have a target at all, you’ll never achieve it; you can’t even measure progress.

“And that’s why the first step in any plan to revitalise the Welsh economy is to be clear about the direction of travel. In the absence of that clarity in the previous administration, we had decades of drift. So, we are setting that right.”

Janet Finch-Saunders, Conservative spokesperson for enterprise, connectivity, and energy

Janet Finch-Saunders, the Conservative spokesperson for enterprise, connectivity, and energy, highlighted the importance of co-operation within the Senedd and believing in Wales.

She said: “I’d like to stop, right from the start of this new government, where we talk Wales down.

“I have more confidence and some faith in the new government. I’ve worked with them for over 15 years, many of their members.”

She continued: “We’ve got to be positive now, because, as has been said here today, Wales is in a mess business wise, and there’s a lot to be done.”

Noting her planned meeting for next week to discuss the Menai Bridge, Ms Finch-Saunders continued to stress the importance of all the parties of the Senedd working together to achieve the best outcomes for Wales.

The Bangor Conwy Mon MS went on to quiz Mr Price on issues such as mobile phone connectivity, broadband connectivity, and transport infrastructure.

She said: “You talk of Wales being open for business, but, in your first statement as cabinet Sec, there is a complete absence of a plan to fix our roads.

“So, I feel that’s a glaring omission. Our transport system is not fit for purpose. We have to get more inward investment into Wales, but, unless you put those priorities in place, then we’re not going to see any improvements.”

Mr Price, in response, welcomed Ms Finch-Saunders’ commitment to cross-party working, and said: “New ideas from any direction, I think, are absolutely incredibly valuable, and we will approach this important responsibility that we have in a collaborative manner, in the way that she described.”

He agreed with her on the “absolute centrality of infrastructure” and continued: “If we think about the productivity goal that we’ve set out as the mission today, then, you know, most economists would say that there are three key elements in terms of the long-term success of achieving that kind of productivity growth.

“One is skills, the other one is innovation, the third one is infrastructure, and so getting the infrastructure right so that our businesses then have the platform that they need in order to deliver their own business potential.”

Business

Innovation slump raises concern for Welsh businesses

Published

15 hours ago

June 4, 2026

Tom Sinclair

THE SHARE of UK businesses classed as “innovation-active” has fallen sharply over the past decade, raising concerns about the ability of firms in Wales and across the UK to compete, grow and adapt.

New figures show that only 34% of UK businesses were innovation-active between 2022 and 2024, compared with 53% ten years earlier — a fall of 19 percentage points.

The National Centre for Universities and Business (NCUB) said the decline should worry policymakers, universities and employers, particularly at a time when productivity, investment and economic growth remain under pressure.

For Wales, the figures are especially relevant. Many Welsh businesses are small or medium-sized firms operating in rural, coastal or post-industrial communities, where access to finance, skills, research partnerships and new technology can be more limited than in larger urban centres.

The warning comes despite repeated political promises to make the UK a science and technology leader. NCUB says the problem is not a lack of research talent, but a failure to turn ideas into commercial activity across the wider economy.

Rosalind Gill, Director of Policy at NCUB, said: “A shrinking base of innovative businesses is a serious concern. Innovation is not confined to a handful of frontier sectors or high-growth companies. It depends on businesses across the economy investing, adapting and bringing new ideas, products and services to market.

“The UK has many strengths. We continue to produce world-class research, generate promising discoveries and collaborate effectively across institutions. Innovation is not created by research alone, however.

“It depends on businesses investing in R&D and innovation, shaping demand, adopting new technologies and working with the research base to solve real-world challenges.”

Ms Gill said the Government’s focus on growth, innovation, reforms to UK Research and Innovation, and a new Industrial Strategy were welcome, but businesses needed clearer long-term priorities and simpler routes from research to market.

She added: “When we speak to business leaders, they consistently highlight the importance of clearer long-term priorities, stronger pathways from research to market, reduced complexity across the research and innovation system, and greater confidence that the UK is a place where innovative firms can start, scale and succeed.”

The NCUB said the challenge now is to ensure that research strengths translate into business investment, commercial activity and economic impact.

For Wales, that means ensuring universities, colleges, manufacturers, farming businesses, tourism operators, renewable energy firms and digital start-ups are not left behind as the UK attempts to rebuild its innovation economy.

Business

Digital makeover aims to help Welsh town centres compete for customers

Published

15 hours ago

June 4, 2026

Tom Sinclair

A NEW digital programme is helping Welsh town centres improve their online visibility and compete for customers in an increasingly digital marketplace.

SMART Busnes, delivered by Newcastle Emlyn-based Antur Cymru, has created Digital Place Plans for six towns it supports in Ceredigion, including Lampeter.

The plans provide each town with a detailed assessment of how it performs online, looking at promotion, coordination, marketing, social media presence, search data, footfall analytics and wider digital behaviour.

The programme has been described as a “health check for the high street”, identifying where towns may be losing customers and what practical steps can be taken to improve.

Bronwen Raine, Managing Director of Antur Cymru, said the plans were designed to turn strategy into practical action.

She said: “Digital Place Plans help bridge the gap between strategy and delivery.

“By taking a whole-place view, they support towns to make better use of existing assets, work more collaboratively, and build the confidence needed to make informed, long-term decisions that benefit local communities.”

Whole-town approach

Rather than focusing only on individual shops, each Digital Place Plan looks at the town as a whole.

The plans consider how visitors find and move through a place, whether local organisations are working together effectively, and where digital infrastructure or promotion could be strengthened.

The aim is to show how small, coordinated improvements can create a bigger long-term impact than any one business could achieve alone.

The latest plan focuses on Lampeter and was developed by Digital Place Lead Clive Davies before being presented to Caru Llambed, the town’s regeneration partnership.

Elen Page, of Caru Llambed, said the session had already inspired action, including work on a funding bid for a new skatepark.

She said: “Thank you Clive. Have just drafted the Expression of Interest for our skatepark — so inspired. Data next thing!”

Kevin Harrington, Programme Manager for SMART Busnes, said the plans helped communities understand both their strengths and areas for improvement.

He said: “By creating a shared evidence base, they show what is already in place, where the gaps are, and how digital can support local priorities in a practical and realistic way.”

Support for rural businesses

The Digital Place Plans form part of the wider SMART Busnes Shared Prosperity Fund programme and sit alongside other digital support being rolled out across Ceredigion.

Last December, the programme became one of the first in Wales to launch a practical toolkit for Answer Engine Optimisation, helping small businesses improve how they appear in AI-generated answers on platforms such as ChatGPT and Google’s AI search.

Organisers say the approach could help rural Welsh SMEs compete more effectively, giving micro-businesses in towns such as Lampeter access to digital strategies more often used by larger brands.

SMART Busnes is delivered by Antur Cymru Enterprises with support from the UK Shared Prosperity Fund and Transition Fund through Ceredigion County Council.

Caption:

Digital boost: Cllr Clive Davies with Gabrielle Davies and Elen Page of Caru Llambed, and Kevin Harrington, Programme Manager for SMART Busnes.

Business

Twr y Felin marks 10 years with summer garden party

Published

16 hours ago

June 4, 2026

Tom Sinclair

ST DAVIDS’ Twr y Felin Hotel has celebrated ten years since opening its doors with a summer garden party for loyal guests, artists, partners, local supporters and friends of the hotel.

The event was held on Sunday, May 31, in the hotel’s landscaped grounds. Although Twr y Felin’s official opening took place in March 2017, the team marked the milestone with a relaxed outdoor celebration as summer arrived in St Davids.

Guests were welcomed with champagne before enjoying live music, drinks and afternoon tea-inspired canapés prepared by the award-winning Blas Restaurant team. The menu featured sweet and savoury bites made using seasonal, locally sourced ingredients.

Local musician Rosey Cale provided live music during the afternoon, while guests enjoyed the hotel’s gardens and sculpture collection.

A highlight of the event was a speech from owner Keith Griffiths, who reflected on the hotel’s journey over the past decade and thanked staff, guests and the local community for their continued support.

Originally built in 1806 as a windmill, Twr y Felin has undergone many transformations throughout its history before reopening as Wales’ first contemporary art hotel.

Today, the hotel is home to more than 250 artworks, the 3 AA Rosette Blas Restaurant, Awen Spa, and 39 individually designed bedrooms, welcoming visitors from across the UK and beyond.

Keith Griffiths, Retreats Group founder and owner, said: “I am so pleased that Twr y Felin Hotel has grown from strength to strength over these ten years due to the incredibly hard work of our staff, loyalty of our guests and support of our community.

“I look forward to the continued success of Twr y Felin Hotel and its sister properties, Roch Castle, Penrhiw Priory and St Bride’s Spa Hotel, as we continue to develop the luxury hotel market of St Davids and Pembrokeshire.”

The anniversary garden party marked not only a celebration of the hotel’s achievements to date, but also an opportunity to look ahead to the future as Twr y Felin continues to evolve while remaining rooted in its heritage, art, hospitality and connection to Pembrokeshire.

Twr y Felin Hotel is a luxury contemporary art hotel in St Davids, set within a restored windmill. The hotel is known for its design-led interiors, curated artwork and coastal setting.

Guests can also dine at Blas Restaurant, which offers modern Welsh cuisine using seasonal local produce, and relax at Awen Spa, a private couples’ spa designed as a tranquil retreat.