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Purchase of bus company has been ‘seamless’ despite driver shortage

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THE RECENT council purchase of a Pembrokeshire bus company has been “seamless,” despite some driver shortages, members of a council committee will hear this week.

Back in December Pembrokeshire County Council completed the purchase of the assets of Edwards Bros Coaches of Tiers Cross, operating all contracts previously run by the company.

The council stepped in when it became clear that the operator was planning to withdraw from the bus market, with the purchase previously backed by the council’s Cabinet last January.

The March 21 meeting of Pembrokeshire County Council’s Services Overview and Scrutiny Committee will hear an update report following the purchase.

The report for members states: “There was a seamless takeover, with all the statutory duties of school transport maintained as well as the continued provision of public transport bus services and additional work as and when required.

“The council has only been operating the assets now for a few months and it is therefore too early to provide substantive feedback on performance.

“It is envisaged that, based on the current workload, financial targets will be met.”

However, several issues have been highlighted in the report.

It says that, while all of the Edwards Bros drivers were transferred to the council, there is a shortage of drivers, which has been worsened due to sickness absence and existing private hire bookings.

“Moving forward, private hire work will only be taken on if it can be scheduled around the capacity and logistics of the school transport routes and local bus services. The bus driver shortage is a national problem and one being experienced by every operator in Pembrokeshire,” the report adds.

Members will hear a council minibus driver has now become a coach driver and another member of staff will also shortly be undertaking their training and test, and a recruitment campaign is currently being undertaken to recruit additional drivers.

The report concludes: “A substantial piece of work was undertaken in terms of due diligence to acquire the assets of the bus company.

“Those assets have only been operated by the council only for a few weeks, so whilst some points have been identified in the update, it is proposed a more substantive piece of feedback on performance is provided in the autumn, which will give time for clearer feedback.”

Members will be asked to consider the feedback on the acquisition, and to refer any relevant concerns to Cabinet.

Business

Wales bucks the trend as equity deals rise despite UK-wide decline

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EQUITY investment in Wales showed resilience during 2024, defying the broader UK trend of declining activity, according to the British Business Bank’s annual Small Business Equity Tracker.

While the UK overall saw equity deals fall by 15.1%, Wales recorded a notable 7.2% rise in equity deal numbers compared to 2023. However, the total value of investments in Wales dropped by 12.1%, settling at £113 million, highlighting ongoing caution among investors.

Supporting this growth, the Investment Fund for Wales (IFW), launched in late 2023, has deployed £18 million from its £50 million equity fund. This investment has drawn an additional £3.1 million from private co-investors, with expectations of increased activity throughout 2025 as IFW managers Foresight expand their deal pipeline.

AI sector leads UK equity growth

Across the UK, artificial intelligence (AI) attracted significantly larger equity deals than other sectors, averaging £8.3 million per transaction—over 40% higher than the £5.7 million national average. At the growth stage, AI investments averaged £36.3 million, more than double comparable sectors, reflecting substantial investor interest.

In Wales, this trend was exemplified by the IFW and Development Bank of Wales’ recent investment in Nisien.AI, a promising Cardiff University spin-out. Nisien.AI is developing advanced AI technology aimed at combating online harms, including digital conflicts, and already works with major global social media platforms. The new funding will support recruitment and R&D, enabling Nisien.AI to launch new digital safety products.

Susan Nightingale, UK Network Director for Wales at the British Business Bank, commented: “Despite a challenging year for equity finance across the UK, Wales has demonstrated resilience with increased deal numbers. However, the overall drop in investment values shows that caution remains prevalent. Encouragingly, AI continues to drive significant value, and companies like Nisien.AI highlight the potential for Wales to become a key player in this transformational sector. We aim to help create the conditions for Wales’ first unicorn to emerge.”

University spinouts reach record heights

University spinout companies across the UK experienced a record-breaking year in 2024, raising £1.9 billion, accounting for 17% of total UK equity investments and 12% of overall deals. Swansea University notably led the Welsh scene, launching 58 spinouts since 2011, ranking ninth in the UK and top in Wales, as highlighted in Beauhurst’s recent Spotlight on Spinouts report.

Business angels continue crucial support

The Small Business Equity Tracker also highlighted the vital role of business angels, with 70% investing predominantly in early-stage businesses. Notably, 64% of surveyed UK angel investors either maintained or increased their investment levels between 2023 and 2024.

The British Business Bank’s initiatives, such as the Female-led Angel Syndication Pilot launched in 2023, have supported this vital investor segment. Women Angels of Wales (WAW), backed by both the British Business Bank and Development Bank of Wales, attracted over 20 investors since mid-2023, closing deals worth £3.8 million. A standout investment was in Kaydiar, a Cardiff Metropolitan University spin-out developing innovative medical devices and prosthetics, demonstrating the impactful role angel investors continue to play in driving early-stage innovation.

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Business

Mayor welcomes Eyemazy to Tenby with official opening

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TENBY Mayor Cllr Dai Morgan officially welcomed a unique new business to the town on Sunday (June 23) with the opening of Eyemazy, a creative studio specialising in transforming photographs of the human iris into striking pieces of personalised art.

Speaking at the launch, the Mayor said: “Tenby has always been a place of breathtaking beauty, creativity, and warm community spirit. Today, we celebrate something new that captures all of that—and more.”

Eyemazy, which offers cutting-edge imaging and custom artwork services, allows visitors to turn a close-up image of their eye into a one-of-a-kind visual display. The studio adds to Tenby’s growing reputation as a hub of artistic innovation and tourism.

“This innovative studio transforms something truly personal—your iris—into a unique work of art,” added the Mayor. “It’s a celebration of individuality, creativity, and the beauty within each of us. Eyemazy not only brings artistic flair to Tenby but also strengthens our local economy and continues our proud tradition of blending creativity with commerce.”

Cllr Morgan concluded by offering a warm welcome to the Eyemazy team and said he looked forward to the studio becoming a popular destination for both residents and tourists.

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Business

Pioneering aeronautical apprentice flies the flag for women in engineering

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A YOUNG apprentice from Llantrisant is breaking barriers in the aerospace industry as Wales celebrates Women in Engineering Day.

Georgia Price, 21, was the first female aeronautical engineering apprentice at Newport-based AerFin Ltd, a global aviation company specialising in aircraft and engine component support services.

Currently studying for a degree in Aeronautical Engineering at the University of South Wales, Georgia is blazing a trail for women in STEM careers. Her achievements include winning bronze and gold medals at the Inspiring Skills Competition Wales Manufacturing Team Challenge and the Skills Academy Wales Tomorrow’s Talent Award.

Georgia said: “My advice to other women considering an engineering career is to go for it. It’s not as daunting as it may look, and everyone is so supportive and welcoming.”

Minister for Culture, Skills and Social Partnership Jack Sargeant said: “Georgia’s success story is a beacon to all young women who may today be considering a career in engineering. Her achievements also illustrate the value of apprenticeships as a pathway into employment and further education.”

The Welsh Government has increased its support for apprenticeships despite financial challenges and the loss of European funding. Core funding has risen from £97m in 2020 to £144m in the most recent budget. Latest data published by Medr shows nearly 73,795 new apprenticeship starts have been supported during this Senedd term.

Georgia’s employer, AerFin, now has three female apprentices and is committed to developing local talent in the thriving aerospace sector.

Simon Bayliss, AerFin’s chief operating officer said: “Georgia is a great asset to the business. Apprenticeships provide the company with a great opportunity to take on and develop local talent which allows us to grow organically.”

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