Business
Welsh Government and Development Bank launch new Green Business Loan Scheme
A MAJOR new loan scheme to support businesses in Wales cut their energy costs by taking steps to become greener and more energy efficient has been launched today by the Welsh Government and Development Bank of Wales.
With the ambition to invest £10m over the next 3 years, the new Green Business Loan Scheme, which will offer discounted interest rates and flexible repayment dates, will help businesses make improvements allowing them to reduce their carbon footprint – supporting Wales’ journey to become net zero by 2050.
Projects which could be supported by the loans include:
- Investing in renewable energy technology;
- Improving the fabric of premises and energy efficiencies within the building;
- Upgrading systems or machinery to reduce energy use;
- Water usage and waste reduction/improvements
- While businesses see the benefits in becoming environmentally sustainable, many lack the funds required to make the up-front investment needed. And wider economic circumstances mean many businesses which might have planned decarbonisation work have since had to prioritise other costs – while those who have the resources needed to make such improvements often don’t know the best place best to start.
As well as the new loan, support and advice is also available from the Welsh Government’s Business Wales service to help businesses decarbonise.
Launching the new loan scheme, Economy Minister, Vaughan Gething, said:
“Tackling climate change is a priority for the Welsh Government. That’s why we’ve set ambitious plans for Wales to become net zero by 2050.
“Businesses have a crucial role to play if we are to meet our ambition, so we’re proud to work with the Development Bank in supporting Welsh businesses on their decarbonisation journey.
“The economy has suffered in recent months and many businesses won’t have the resources needed to decarbonise. This is especially concerning as energy bills have risen, which highlights just how important Wales’ journey towards becoming a Net Zero nation is.
“We want to ensure businesses have the support needed to make the improvements they want to make – not just through financial backing offered by the Green Business Loan Scheme, but also with practical advice from our Business Wales service.
“I’d encourage any businesses interested in the new scheme to contact the Development Bank for more information.”
Minister for Climate Change, Julie James, said:
“The current cost of energy has brought into sharp focus the need to reduce our energy use, be more energy efficient and switch to local, renewable energy sources instead of relying on costly fossil fuels.
“Businesses can be at the heart of our transition to net zero, and we know our business community are keen to take action. This scheme offers the capital funding which small and medium sized businesses often need to make investment decisions.
“The Green Business Loan Scheme can help businesses reduce carbon emissions, manage energy costs and increase business competitiveness.”
The market for ‘green’ loans is new and evolving and the Development Bank will use this pilot to test the market – learning lessons that can inform the operation of the larger funds operated by the bank. Those larger funds such as the Wales Flexible Investment Fund carry the firepower to provide finance at far greater scale.
Chief Executive of the Development Bank of Wales, Giles Thorley, said:
“The new Green Business Loan Scheme will help businesses looking to improve energy efficiency and future-proof themselves against rising energy costs.
“We know that sustainability is an increased area of focus for investors, customers and employees – as such, investing in decarbonisation measures is becoming increasingly important for businesses, but few have the initial capital needed to make those changes.
“The new scheme offered by the Development Bank will be provided on a patient capital basis, with payment schedules linked to the payback of improvements made.”
Business
Main Street Music to close retail shop as owner focuses on handmade guitars
A POPULAR Pembrokeshire music shop is changing the way it operates, with Main Street Music confirming it will no longer trade as a retail shop from September 1.
The business said there will be an immediate 15% sale on all stock, but stressed that Main Street Music is not disappearing completely.
The owner said the decision had been made “with a heavy heart”, adding that the shop’s closure as a retail outlet would be a loss for Pembrokeshire as the county’s last professional guitar dealership.
He said his long-term passion had always been making musical instruments, something he had done since his teenage years, later receiving scholarships and a fellowship for his studies.
After college, he was given the opportunity to buy the business at the age of 24.
He said: “I have had an amazing time running this shop, giving it everything I’ve got, met some wonderful people and sold some incredible guitars.”
Although the business itself remains successful, he said tighter retail margins, dealership pressures and rising costs had made it difficult to grow in a way that would allow him to employ others and spend more time in the workshop.
The shop will eventually reopen as an appointment-only workshop and showroom for handmade guitars and repairs.
Current repair work will continue on a case-by-case basis by appointment only.
Main Street Music thanked customers for their support over recent years, saying the owner was proud of where the shop had been taken.
Caption:
Main Street Music will close as a retail shop from September 1, but will continue as an appointment-only workshop and showroom for handmade guitars and repairs.
Business
Fishguard and Goodwick Bowls Club set to appeal council’s refusal of signage
A Pembrokeshire sports club, which was recently refused permission by the council to keep advertising signs which support its activities, is looking to fight that decision.
Earlier this month, in an application refused by Pembrokeshire County Council on the grounds of visual impact, Fishguard & Goodwick Bowls Club sought retrospective permission for up to 36 signs on land close to the town’s Phoenix Centre.
The signs, which the applicants said provide “an important source of revenue for the Fishguard and Goodwick Bowls Club, supporting the ongoing operation and maintenance of local community sporting facilities,” had been in place for some 18 months, being removed ahead of the formal planning application.
Speaking after the refusal, Richard Brind, club captain of Fishguard & Goodwick Bowls Club, said the club had discussed challenging the decision, and had been taking advice from local county councillors about the best potential route, with options including a direct appeal through the Welsh Government’s PEDW (Planning and Environment Decisions Wales).
“We acted in good faith as we believed we had permission from a PCC department to install the signs.
“The irony in all of this is we actually paid PCC to have the signs made by their sign making department (who were the department that told us it would be OK to install the signs on our fence).
“The landlord of the grounds which is PCC have told us that they had no objection to us installing the signs, providing planning is granted.”
Mr Brind added: “I’m disappointed with the way the planning department have handled the process, not the decision, but I do think that was wrong; other sports clubs have signs up in the area, it doesn’t seem right.”
On the financial implication, he said: “Unfortunately, the costs of everything goes up, the costs to maintain the green are not covered by our membership, this year we’re probably going to spend £5,000. The money from the signs was certainly helping to keep the club viable, if we don’t get that money from somewhere, maybe through increased fees; membership would have to go up by a half, from £80 to £120.
“The funding we receive from the ads, it’s not vital but it’s a definite help, losing it would be ‘death from 1,000 cuts,’ money slowly trickling out.”
He finished: “I could understand it if it was an area of outstanding natural beauty rather than a car park, where we are we’ve got Jewsons and a petrol station.”
A spokesman for Pembrokeshire County Council said: “The Local Planning Authority has considered the application in accordance with the Town and Country Planning (Control of Advertisements) Regulations 1992 (as amended), which require due consideration of the impact signage would have on visual amenity and public safety.
“While comments regarding advice the applicant received from other council departments and landowner consent are noted, each application must be determined on its own merits with regard to relevant policy and legislation.
“The Authority recognises the club’s valuable role in the community; however, financial considerations are not material to the assessment of advertisement consent.
“Whilst there is a right of appeal to Planning and Environment Decisions Wales (PEDW), the Local Planning Authority remains willing to engage with the applicant regarding any revised proposals they may wish to present.”
Business
Government backs high street with crackdown on cheap imports
MINISTERS have announced plans to speed up reforms aimed at helping high street businesses compete with online retailers and overseas sellers.
The Treasury said changes to low-value imports will now be brought forward by six months, with customs duty relief on goods worth £135 or less set to be scrapped from October 2028.
The move is designed to stop online retailers gaining an unfair advantage over shops, pubs, restaurants, hotels and other high street businesses.
At present, many cheaper imported goods can enter the UK without customs duty, a system which ministers say has left traditional retailers at a disadvantage.
The Government is also reviewing how VAT is collected from businesses trading through online marketplaces, amid concerns that some sellers are failing to pay the tax they owe.
The Treasury said revenue raised from tougher VAT enforcement would be used to help improve the business rates system for high street firms.
Dan Tomlinson, Exchequer Secretary to the Treasury, said: “This action tackles the unfair competition and dodgy businesses that are doing real damage to our high streets.
“And by making sure that tax is paid when it’s owed, we can raise revenue to put back into improvements to the business rates system for pubs, restaurants, hotels and other high street businesses.”
The package also includes a consultation on VAT reform for land used in new social housing developments.
Ministers say the change could help speed up the delivery of affordable homes by making the tax system better reflect how social housing schemes are developed.
The Treasury said the measures form part of wider plans to make the UK tax and customs system simpler, fairer and more focused on economic growth.
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