THE NUMBER of Welsh companies with overdue invoices on their books reached a 2024 high in September, according to new research from R3, the UK’s insolvency and restructuring trade body.

R3’s analysis of data provided by Creditsafe shows that 18,360 Welsh businesses had unpaid invoices on their books last month – the highest monthly total of the year so far.

The number of Welsh firms with overdue invoices on their books rose by 3.7% in September 2024 when compared to September 2023’s total of 17,709.

Bethan Evans, Interim Chair of R3 in Wales, says: “The rise in businesses failing to pay their bills on time is a clear sign that economic recovery in Wales is still fragile.

“While some sectors may be bouncing back, many firms are still grappling with the ongoing effects of rising costs, wage pressures, and reduced consumer spending, which is making it harder for them to manage their cash flow effectively.”

The number of overdue invoices in Wales also reached a 2024 high in September, with a total 145,687 recorded. This is a slight yearly rise of 0.3% when compared to September 2023’s total of 145,273.

Bethan, who is a partner at Menzies LLP, continues: “Wales’s business debt burden has crept up every month since March and this is creating a growing financial pressure for businesses.

“Without a consistent improvement in payment practices or cash flow, many companies may find it increasingly difficult to manage their debt and maintain operations, and we could see more and more businesses in Wales turning to a formal insolvency solution as a result.

“I would urge business owners and directors that are seeing their debt levels rise to seek advice as soon as they can from a qualified professional. Most R3 members in Wales will be happy to provide a free initial consultation so you can explain the challenges you’re facing, and help you understand the best course of action for you and your business.”

THE FIRST stage of plans to renovate an iconic historic Pembrokeshire seafront hotel has been given the go-ahead by national park planners.

Tenby’s Imperial Hotel, which had an asking price of £2.5million, was sold earlier this year by specialist hotel property adviser, Christie & Co, to Crest Hotels.

Crest Hotels has eight other ‘unique’ hotels in the UK, including the Metropole Hotel in Llandrindod Wells and The Feathers Hotel in Ludlow.

The four-storey Grade-II-listed Imperial Hotel has been an hotel for nearly 120 years, opening in 1905.

The 45-bedroom hotel is sited in the town’s conservation area and next to the historic town walls, boasting panoramic sea views over Tenby’s South Beach and across to Caldey Island.

A listed building application before Pembrokeshire Coast National Park, by Crest Hotels, – the first of several phases proposed –  sought permission for bedroom alterations and refurbishments including the bar/lounge area.

A supporting statement, through agent AT Architects said: “This proposal is phase one with three further potential phases of refurbishment and development.”

It added: “Phase one does not include alterations to the existing building exterior. Phase one consists of the refurbishment of 35 existing bedrooms and ensuites. There will be the creation of two new bedrooms and ensuites formed by splitting two of the existing bedrooms. These works are to take place over ground, first, second, third and fourth floors of the hotel.

“To the ground floor the existing bar / lounge area is proposed to be opened to the enclosed veranda area and then top the main staircase and entrance foyer. The central pier will be removed, and this area is to undergo a total refurbishment. The ground floor room currently an office and reception foyer are to have the existing hallway reinstated and then opened up between the two rooms to form a new kitchen facility to serve the enhanced food and beverage offering.”

The proposals were supported by Tenby Town Council, but Tenby Civic Society objected due to the potential loss of internal fixtures.

An officer report, recommending approval, said: “The proposed scheme is considered in keeping with the character of the listed building, and its setting in terms of design and form. As such, the application can be supported subject to conditions.”

Later stages proposed, still before national park planners, include external alterations and extra facilities such as a spa and cinema room.

The listed building consent for the first phase was conditionally approved by park planners.

A NEW report from Amazon’s 2024 UK Economic Impact Hub highlights the company’s significant contributions to the Welsh economy, revealing an investment of over £2 billion since 2010. This long-term commitment has generated substantial economic benefits, including an estimated £1.8 billion in goods and services added to Wales’ GDP.

The report, which examines Amazon’s regional economic footprint, outlines both job creation and support for local businesses. Amazon has created over 2,000 full and part-time roles in Wales and supported 180 individuals through its employability skills training program since 2010. Additionally, more than 2,600 Welsh small and medium-sized enterprises (SMEs) currently sell on Amazon’s platform, collectively achieving export sales exceeding £110 million in 2023 alone.

A notable community initiative, the Cwtch Mawr Multibank in Swansea, was co-founded by Amazon in collaboration with former Prime Minister Gordon Brown in 2024. This project has already provided essential goods to families in need across Wales.

David Marcok, Amazon’s General Manager in Swansea, expressed pride in the company’s positive regional impact: “We’re passionate about supporting the Welsh economy and communities through our investments, job creation, charitable donations, and volunteering. Our team is committed to uplifting the community through initiatives that help SMEs grow and support various local causes.”

In 2024, Amazon’s Swansea team furthered their community support, assisting organizations such as Swansea Bay Health Charity, Neath Foodbank, and Waun Wen Primary School with volunteer efforts, product donations, and financial backing. Marcok added, “We’re excited to continue backing these good causes as we focus on delivering for our customers, sellers, and communities.”

For additional information, visit the Amazon Economic Impact Hub here.