A NEW report by the British Business Bank and Economic Intelligence Wales shows that while most Welsh SMEs remain financially stable, many continue to face barriers to accessing finance and are less likely than their counterparts in other devolved nations to seek funding for future growth.

The Wales SME Access to Finance Report 2026 has found that 66% of Welsh SMEs are currently using external finance, and eight in ten (80%) report a positive cash flow position. Despite this, 19% of smaller Welsh businesses reported experiencing barriers to accessing finance, the highest proportion among the devolved nations.

The report also highlights a more cautious outlook among Welsh SMEs when it comes to future investment. Just 17% of Welsh businesses expect to require additional finance over the next year, compared with 42% in Northern Ireland and 47% in Scotland. While 62% of Welsh SMEs that anticipate needing finance say they are confident about securing it, overall demand for funding remains lower than elsewhere in the UK.

Regional variations within Wales are also evident. SMEs based in North Wales and South West Wales were more likely to report barriers to finance (both 21%), while South West Wales businesses were least likely to feel confident about securing additional funding. At the same time, SMEs in South East Wales were most likely to report a finance requirement above £250,000, reflecting differing growth profiles across regions.

The findings underline the importance of a diverse and accessible finance ecosystem to support business investment, innovation and growth across all parts of Wales.

Susan Nightingale, Director UK Network, British Business Bank, said: “Welsh businesses continue to show resilience and confidence, with most reporting positive cash flow and steady growth expectations. Yet, clear regional and structural differences remain in access to finance, particularly for smaller businesses and sole traders. With Wales recording the highest share of smaller businesses experiencing barriers to finance among the devolved nations, it is vital that all businesses, wherever they are in the country, have the knowledge, confidence and support to secure the right finance for them. This will be key to unlocking sustainable growth across every part of Wales.”

Giles Thorley, Chief Executive of the Development Bank of Wales, said: “This year’s Wales SME Access to Finance Report shows a mixed picture. It’s encouraging to see many Welsh SMEs reporting strong cash flow, yet concerning that confidence and demand continue to lag behind other UK nations. If we want our businesses to innovate, invest and grow, closing that gap must remain a priority.

“Improving access to finance isn’t something any one organisation can solve alone, but the Development Bank of Wales will continue to play a vital role in supporting SMEs, working alongside partners across the wider finance ecosystem to help businesses invest, innovate and grow.”

Economic Intelligence Wales is a unique research collaboration between the Development Bank of Wales, Cardiff Business School, Bangor Business School, the Enterprise Research Centre, and the Office for National Statistics (ONS).

BUSINESS leaders, students and policymakers will gather in Pembrokeshire next month to mark International Women’s Day with an event focused on opportunity, leadership and retaining talent in West Wales.

The third annual Partners in Progress: Give to Gain conference will take place on Friday (Mar 6), bringing together established professionals and the next generation of workers to share practical advice and real-world experience.

The event is organised by Institute of Directors Wales, in partnership with Bluestone National Park Resort and the Welsh Government through Trade & Invest Wales.

Hosting the conference in West Wales, rather than a city centre, aims to highlight the growing opportunities available in regional communities and the role local employers play in keeping skilled people closer to home.

Running from 10:00am to 2:00pm, the programme will include panel discussions, site tours and networking sessions. Sixth form, college and university students will be encouraged to question speakers directly about careers, leadership and progression.

Speakers include Belinda Houghton-Jones of RBC Brewin Dolphin, Alex Shufflebottom Jones, former managing director of Shufflebottom Ltd and now an investor and mentor, Dr Owain James of Darogan, and Jane Wallace-Jones, founder of Something Different. The panel will be chaired by Richard Selby, National Chair of IoD Wales.

Organisers say the focus will be firmly practical, with businesses sharing examples of how they are developing staff, widening access to opportunity and building inclusive workplaces.

The discussion comes as Welsh firms continue to report difficulties recruiting and retaining skilled staff. IoD Wales’ latest State of the Nation survey found that skills shortages remain the biggest concern for almost four in ten organisations.

Jo Price, Nations Manager for Wales at IoD Wales, said the aim is to connect experience with ambition.

She said: “Partners in Progress is about bringing people together to tackle real challenges facing businesses and future talent in Wales.

“By connecting leaders and students in West Wales, we can share what works, build confidence and create opportunities where people live and want to work.”

Rebecca Rigby, Director of Operations at Bluestone, added: “We’re proud to host this event for a third year. It’s about creating meaningful connections between future talent and inspirational leaders, and showing what’s possible beyond the big cities.”

Thanks to Welsh Government support, tickets are fully funded, although places are limited. Standard prices are £25 plus VAT for members and £35 plus VAT for non-members.

Places can be booked online via the IoD website.

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.

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.”

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.