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Welsh business confidence rises again in October

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BUSINESS confidence in Wales rose three points to 39% in October, according to the latest Business Barometer from Lloyds. This increase reflects growing optimism among firms about their trading prospects and the wider economy.

Companies in Wales reported a rise in confidence about their own business outlook, up three points to 49%, while their optimism regarding the economy also increased by three points to 30%. Together, these factors contributed to the headline confidence reading of 39%, up from 36% in September.

Focus on growth

Looking ahead, Welsh businesses have outlined key areas for growth over the next six months. A significant 41% plan to invest in their teams through training, 36% aim to diversify their offerings by introducing new products or services, and 32% intend to adopt new technology. Additionally, a net balance of 25% of businesses expect to increase staffing levels over the coming year, a five-point rise from the previous month.

The Business Barometer, which surveys 1,200 businesses each month, provides an early indicator of economic trends both regionally and across the UK.

National picture

In contrast to the positive trend in Wales, overall UK business confidence dipped three points to 44% in October, down from 47% in September. This decline was driven by slight drops in firms’ confidence about their own trading prospects (53% compared to 56% in September) and the broader economic outlook (35% down from 38%).

Among UK regions, the North East recorded the highest business confidence in October at 63%, followed by London at 56% and the North West at 53%.

Sector insights

The manufacturing sector saw a decrease in trading prospects for the third consecutive month, falling to 46%—its lowest point since March. The retail and services sectors also experienced modest declines of three points, landing at 51% and 57%, respectively. However, the construction sector showed resilience, with confidence rising to 50%.

Expert insights

Sam Noble, Regional Director for Wales at Lloyds, said: “It’s encouraging to see Welsh business confidence continue to build. Businesses have clear plans for growth, with many focusing on investing in their staff—a move that will strengthen not just their operations but the wider economy. Whatever their plans, we’ll continue to stand by their side with our support.”

Hann-Ju Ho, Senior Economist at Lloyds Commercial Banking, commented: “While overall business confidence in the UK dipped in October, it follows a period of sustained optimism. Many businesses remain positive about their own trading prospects, and the increase in hiring intentions suggests more employers are looking to expand their workforce. As businesses move into the final part of the year, they will focus on managing these opportunities effectively.”

Business

Acas urges employers to act now on sexual harassment

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WORKPLACE expert Acas is encouraging employers and their staff to create a zero-tolerance approach to sexual harassment at work ahead of a change in law this week.

The Worker Protection (Amendment of Equality Act 2010) Act 2023 comes into effect on 26 October 2024, introducing a legal duty for employers to proactively take reasonable steps to prevent sexual harassment.

Acas is suggesting employers create a culture where sexual harassment is understood to be unacceptable, including anyone in a position of authority.

This includes developing a policy on sexual harassment, training managers on their responsibilities, and creating an environment where people feel safe to report incidents of sexual harassment and situations where they felt unsafe.

According to a recent Acas survey, 14% of employers and 6% of employees said they had witnessed sexual harassment in their workplace.

Acas Head of Inclusive Workplaces Julie Dennis said: “Sexual harassment is unacceptable at work or anywhere else. We want everyone to understand this, and we are urging employers to take a proactive approach to stamping it out.

“Proper policies and training for managers can help eliminate the potential for sexual harassment to occur. They can also help foster environments where staff feel empowered to report any harassment and avoid it before it occurs.”

Sexual harassment is unwanted behaviour of a sexual nature.

Under the new law, employers must take reasonable steps to prevent sexual harassment.

They must not wait until something has happened before they take action.

This covers harassment from colleagues, whether at work or in settings connected to work, and also harassment from third parties such as customers, service users or members of the public.

In order to identify and address risks, employers need to:

  • consider the risks of sexual harassment happening in their organisation
  • consider steps they could take to reduce the risks of sexual harassment happening
  • consider which of those steps are reasonable for them to take.

For more information, please visit: https://www.acas.org.uk/sexual-harassment

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Business

Haverfordwest opticians shortlisted as ‘Contact Lens Practice of the Year’

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SPECSAVERS in Haverfordwest has been shortlisted for the Contact Lens Practice of the Year award at the Optician Awards 2024.

This recognition highlights the practice’s unwavering commitment to delivering outstanding customer care and advanced contact lens solutions, particularly for individuals with complex ocular conditions.

The Haverfordwest team is known for blending clinical expertise with cutting-edge technology to ensure that every customer receives personalised contact lens care. Through timely intervention, the team has transformed the lives of many at-risk customers by preventing irreversible sight loss over the years.

The practice has earned a reputation for working with both hospital and private patients, including those requiring specialised lens fittings due to challenging conditions such as keratoconus, severe dry eye and corneal irregularities.

The practice’s partners, Andy Britton and Wayne Jones, are particularly proud of their role in stepping in to support hospital patients following the retirement of a local eye service provider in the area. The team’s expertise in fitting advanced lenses has helped reduce the need for patients to travel long distances to their nearest hospital, ensuring essential care is accessible close to home.

Andy Britton says: ‘We’re thrilled to be shortlisted for this year’s Contact Lens Practice of the Year award for our work in contact lens care.

‘Our focus has always been on improving the quality of life for our patients by providing personalised, cutting-edge solutions that prioritise both vision and eye health.’

The practice’s investment in advanced diagnostic tools, such as anterior segment imaging and topography, has further enhanced its ability to offer precise and comfortable lens fittings.

To ensure the highest standards of customer satisfaction, the practice has implemented numerous initiatives, including regular check-ins with customers post-fitting and specialised phone systems to handle contact lens enquiries swiftly. Their proactive approach to managing care schedules has also improved retention rates and strengthened customer engagement.

‘We’re passionate about pushing the boundaries of what’s possible in contact lens care,’ says retail partner, Wayne Jones.

‘By fostering a team of highly skilled professionals, investing in cutting-edge technologies and adopting a customer-first approach, we have created a practice that is both dynamic and compassionate. We look forward to continuing our growth, delivering life-changing contact lens care, and ensuring our customers receive the best possible vision solutions.’

As previous winners of the Enhanced Optical Services award and Multiple Practice of the Year award, the team is looking forward to the results of the Optician Awards 2024 which will be announced at an awards ceremony in London on Friday 22 November.

Specsavers Haverfordwest is open seven days a week. To find out more information about Specsavers in Haverfordwest, request an appointment or browse the online store, visit https://www.specsavers.co.uk/stores/haverfordwest

Additionally, to make eye health accessible to all, the store offers a Home Visits service for those unable to leave their homes unaccompanied due to disability or illness.

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Business

Home Bargains to open new store in Pembroke Dock creating 45 jobs

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HOME BARGAINS says it has invested approximately £2 million into its new store at Llanion Park Pier Road, Pembroke Dock, SA72 6TR which will be officially opened at 8am on Saturday October 26.

As one of the UK’s largest family-run retailers, Home Bargains is creating 45 new jobs in the local community with its store in Pembroke Dock, with 38 of these being new hires.

Lara Riley, the new Pembroke Dock store manager, said: “I’m really excited to be opening our new Store at Pembroke Dock, the excitement around opening a new store is impossible to match. I think this store will be a great addition to our already well-established stores in Pembrokeshire. The People of Pembroke Dock are in for a fantastic shopping experience, a we are truly looking forward a welcoming each and every one into our store”

The new Pembroke Dock store will join over 600 outlets across the UK. Opening approximately 50 stores a year, Home Bargains is bucking current trends in the industry.

The 12,680 sq. ft store, will offer shoppers a range of products, including homewares, health and beauty essentials, sweets, snacks and drinks, as well as fresh, chilled and frozen food.

Lara added: “Pembroke Dock will be a great location for us, and we’re proud to be able to offer local people top-branded goods at exceptionally low prices.”

With more than five million customers each week, Home Bargains is one of the country’s best-loved discount retailers, stocking top-quality branded goods at low prices.

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