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Business

£460m boost helps almost 1,400 Mid and West Wales firms start up and scale up

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ALMOST 1,400 businesses in Mid and West Wales have received more than £460 million in support from the Development Bank of Wales since 2017, new figures show.

The milestone forms part of the Bank’s announcement today that it has now invested £1 billion across Wales in equity, debt and property – generating a jobs-based economic return of nearly six times the original investment.

Since it was created by the Welsh Government in 2017, the Development Bank has supported 4,699 businesses through 5,184 separate investments. Across Wales, the funding has helped sustain or create 51,089 jobs and is estimated to have generated £5.8 billion in economic value.

In Mid and West Wales alone, £323.4 million has gone to 1,399 businesses, unlocking a further £143.2 million in private sector co-finance.

Local developments included

Among the local projects backed by the Bank is Mentrus Developments’ Maes y Teirw scheme in Carmarthen. A seven-figure loan helped part-fund the regeneration of a 2.2-acre brownfield site into 21 new homes – including four affordable properties – all fitted with solar panels and air-source heat pumps to maximise energy efficiency.

The Bank has also provided:

  • £89 million to 292 tech businesses
  • £275 million to property developers, resulting in 2,302 new homes
  • £61 million for 787 start-ups
  • £138 million across 341 succession deals to keep established firms in Wales
  • 30 successful exits, generating £31 million

Welsh Government welcomes milestone

Rebecca Evans, Cabinet Secretary for Economy, Energy and Planning, said:
“It is vital that companies can access finance in order to grow. Since we set up the Development Bank in 2017, it has acted as a social impact investor, supporting entrepreneurship and helping to build a greener economy.

“Reaching the £1 billion milestone makes me proud of the Bank’s role in driving economic development. By securing 50,000 jobs, the Bank shows how targeted investment can open up opportunities and support inclusive communities across Wales.”

First Minister Eluned Morgan added: “The Development Bank is part of the support we offer to companies that want to expand and innovate. Wales is a great place to set up a business or invest in projects, and this is part of the message I will be sharing with global delegates at next month’s Wales International Summit.”

‘Driving ambition across every part of Wales’

Hon. Group Captain Sally Bridgeland, Chair of the Development Bank, said the milestone reflects “the power of sustainable capital”.

“Our investments have supported thousands of businesses at every stage of their growth journey. These results show how long-term, relationship-driven finance can bring ambitions to life and deliver real economic benefits for people, businesses and communities across Wales.”

Chief Executive Giles Thorley said the Bank’s footprint now reaches “every part of Wales”.

“By leveraging £636 million in private co-investment and deploying recyclable funds, we’re building a legacy of resilience for future generations. £1 billion invested in Welsh businesses is £1 billion driving Wales forward.”

Investment breakdown

  • 5,184 investments across 4,699 businesses
  • Average deal size: £190,000
  • Funding mix:
  • £564m debt
  • £138m equity
  • £298m property

 

Business

Eight-year prison sentence after vehicle stop uncovers drugs worth over £150,000

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A ROUTINE vehicle stop by roads policing officers has led to an eight-year prison sentence after more than £150,000 worth of illegal drugs were discovered in a car in Pembrokeshire.

On Friday, January 2, officers from the Roads Policing Unit stopped a grey Seat Ateca on Hoyland Road, Pembroke. The vehicle was being driven by 43-year-old Dean Evans.

During the stop, Evans told officers they would find “stuff” in the car. He and the vehicle were subsequently searched under the Misuse of Drugs Act.

A search of the boot uncovered a cardboard box containing a one-kilogram block of cocaine and ten half-kilogram packages of herbal cannabis. The street value of the drugs was estimated to be well in excess of £150,000.

Evans was arrested at the scene on suspicion of possession with intent to supply controlled drugs. He was later charged with possession with intent to supply Class A and Class B drugs.

The 43-year-old pleaded guilty at Swansea Magistrates’ Court on Saturday, January 3.

On Thursday, January 28, Evans was sentenced at Cardiff Crown Court to eight years’ imprisonment for possession with intent to supply cocaine and cannabis.

DC Jones, from Dyfed-Powys Police’s Serious Organised Crime Unit, said: “Tackling the supply of illegal drugs is a priority for Dyfed-Powys Police, and the misery that illegal drugs bring to local communities will not be tolerated.

“We welcome the sentence passed to Dean Evans, given the large quantity of harmful drugs he was caught trafficking into Pembrokeshire.

“This sentence should serve as a stark warning to anyone tempted to become involved in the illegal drugs trade in Dyfed and Powys.”

 

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Business

Councillor condemns closure of Haverfordwest Santander branch

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A PEMBROKESHIRE councillor has spoken out after learning that the Santander branch in Haverfordwest is set to close later this year, warning the decision will have a serious impact on local residents, families and businesses.

The bank’s Bridge Street branch is due to close on Monday (May 5) as part of a wider UK restructuring programme.

Councillor Thomas Baden Tudor said he was “lost for words” and urged the bank to reconsider, describing the closure as devastating for customers who rely on face-to-face services.

Santander says the decision is driven by declining footfall, with more customers banking online, and that services will remain available via digital platforms and Post Office counters.

However, the announcement follows a steady erosion of high-street banking in Pembrokeshire. The Herald recently reported that Haverfordwest’s former Halifax branch is set to reopen as a nail salon.

In what appears to be a serious failure of planning, there is now not a single bank branch left anywhere in south Pembrokeshire. Towns including Tenby, Pembroke and Pembroke Dock are all without face-to-face banking facilities.

North Pembrokeshire has also been affected, with Fishguard and St Davids now lacking bank branches.

Pembrokeshire is understood to be left with just four bank branches in total — Nationwide in Milford Haven, and HSBC, NatWest and Lloyds Bank in Haverfordwest.

 

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Business

Bluestone celebrates King’s Award for Enterprise at official ceremony

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Pembrokeshire resort recognised as UK leader in sustainable tourism

BLUESTONE NATIONAL PARK RESORT has formally received The King’s Award for Enterprise in Sustainable Development, marking a major milestone for the Pembrokeshire-based resort.

The prestigious honour — the UK’s highest business award — was presented during an official ceremony at Bluestone’s Serendome by His Majesty’s Lord-Lieutenant of Dyfed, Miss Sara Edwards. It recognises Bluestone as the first holiday resort in the country to receive the award for sustainable development.

During the visit, the Lord-Lieutenant met founder and chief executive William McNamara, director of sustainability Marten Lewis, staff members and invited guests, while also learning more about the resort’s long-term environmental strategy and its relationship with the local community.

The award follows an extensive assessment of Bluestone’s environmental, social and economic performance. Judges highlighted major progress in reducing carbon emissions, the resort’s move to a fossil-fuel-free operation for all purchased energy — a first for a UK holiday park — and its adoption of circular economy principles. Bluestone was also praised for its support for the local economy, its work to protect and enhance wildlife, and an internal culture where sustainability is shared across the organisation. Around thirty per cent of the business is staff-owned.

Speaking at the ceremony, Miss Edwards said: “It was a great pleasure to present Bluestone with The King’s Award for Enterprise and to see first-hand the work they are doing. The team’s passion for sustainability and their commitment to protecting the local area in Pembrokeshire shone through during my visit. Bluestone’s work is having a positive and lasting impact, and they should be extremely proud of what they have achieved.”

The recognition comes at a time when the tourism sector is under increasing pressure to balance growth with environmental protection, as travellers place greater emphasis on sustainable destinations.

Marten Lewis, who has led Bluestone’s sustainability strategy, has been central to developing what the resort describes as its “operational blueprint” — combining environmental protection, community partnerships and local economic support. He has also represented Bluestone nationally and was recently congratulated in person by King Charles III at a reception for King’s Award recipients.

Reflecting on the achievement, Mr Lewis said sustainability was fundamental to the way the resort operates. He added that the award recognised years of collective effort across the business and would act as a powerful incentive to continue pushing standards higher.

Chief executive William McNamara said the award reflected a long-standing commitment to responsible tourism. He said that as travel continues to evolve, businesses have a growing duty to protect the places people come to enjoy, adding that national recognition of Bluestone’s approach was a moment of pride for the entire team.

Formerly known as The Queen’s Awards for Enterprise, the programme was renamed following the accession of King Charles III. Since its launch in 1965, more than 8,000 UK businesses have been recognised for outstanding achievement.

 

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