Firms remain positive but optimism weakens compared to UK average

BUSINESS confidence in Wales fell slightly during February, with firms reporting lower optimism about both their own performance and the wider economy.

The latest Business Barometer from Lloyds shows overall confidence in Wales dropped three points to 29%, compared with 32% in January. This contrasts with the UK picture, where confidence remained unchanged at 44%.

Companies reported reduced confidence in their own trading prospects, down three points to 35%, while optimism in the broader economy fell five points to 22%.

Despite the dip, many Welsh businesses said they are continuing to pursue growth plans over the next six months. The top priorities identified were investing in staff through training (71%), developing new products or services (52%), and entering new markets (29%).

The monthly Business Barometer surveys around 1,200 businesses across the UK and has been running since 2002, providing an early indicator of economic trends.

Across the UK, confidence in firms’ own trading prospects fell six points to 53%, although optimism about the wider economy rose eight points to 36%. London recorded the highest regional confidence in February at 59%, followed by the North West and Northern Ireland, both at 58%.

Sector results were mixed. Construction saw a significant rise in confidence, up 14 points to 60%, while manufacturing increased five points to 37%. Retail and service sector confidence dipped slightly, down two and three points respectively.

Nathan Morgan, area director for Wales at Lloyds, said businesses in Wales remain focused on growth despite short-term uncertainty.

He said: “While business confidence dipped this month, we know Welsh businesses are continuing to press ahead with their growth strategies. Whether their plans are to upskill their teams, enter new markets or diversify product and service offerings, we’ll continue to be ready to provide our support.”

Hann-Ju Ho, senior economist at Lloyds Commercial Banking, said the wider economic outlook appeared to be stabilising.

He said: “It’s encouraging to see optimism in the wider economy returning, although with a small reduction in firms’ confidence in their own trading prospects. The majority of the survey results were collected following the Bank of England’s close decision to hold interest rates at its February meeting, signalling potential easing ahead, which may have alleviated business concerns, including those around cost pressures.

“The rise in pricing expectations to a six-month high may indicate firms are looking to rebuild their margins in 2026. It’s also great to see confidence increase for manufacturers and construction firms as they are key for UK growth.”

THE CELTIC FREEPORT has secured £638,000 in UK Government funding to support key infrastructure projects in Pembroke Dock and Port Talbot, helping to unlock future investment and accelerate development linked to floating offshore wind and clean energy industries.

The funding forms part of a wider £3.3 million package announced for sixteen Industrial Strategy Zone projects across the UK. The three successful Celtic Freeport schemes will focus on removing development barriers and preparing sites for future commercial activity.

Successful projects

Criterion Quay, Pembroke Dock — £213,000

Funding will support technical assessments required to enable floating offshore wind operations and maintenance (O&M) infrastructure at the site.

Talbot Wharf, Port Talbot — £265,000

Land remediation works will improve the viability of development plots, making them more attractive to companies within the floating offshore wind supply chain.

Port Talbot Marine Infrastructure — £160,000

Feasibility and design work will be carried out to refurbish two jetties, supporting future import and export activity and strengthening marine capability at the port.

Rt Hon Steve Reed MP, Secretary of State for Housing, Communities and Local Government, said:“From offshore wind manufacturing on the Humber to new clean energy facilities in Pembrokeshire, this backing for our freeports will generate real economic growth across the country. By tackling the barriers developers face early on, we’re helping to unlock significant private investment and create thousands of good jobs in clean energy and advanced manufacturing.”

Luciana Ciubotariu, Chief Executive of Celtic Freeport, said: “Today marks a significant milestone for Pembroke Dock and Port Talbot. Securing UK Government funding for these three projects accelerates the Celtic Freeport’s vision, supporting investment in port infrastructure that will enable floating offshore wind and the wider green energy transition.”

Trading Standards says trader failed to engage after advice — criminal investigation not ruled out

PEMBROKESHIRE COUNTY COUNCIL has confirmed it is continuing to assess complaints relating to Steven Grant and his business Computer Solutions Wales, and has not ruled out the possibility of a criminal investigation.

The statement comes after the Pembrokeshire Herald published a series of reports in recent weeks detailing allegations from customers and former workers who say they were left out of pocket following dealings with the business.

The council confirmed that complaints were first received by its Trading Standards Service in October 2024.

At that time, officers assessed the matters as predominantly civil disputes between consumers and a trader, meaning they did not initially meet the threshold for criminal enforcement action.

However, Trading Standards officers did engage directly with Mr Grant.

A council spokesperson said: “Trading Standards colleagues met with Mr Grant to discuss the concerns raised and offered extensive business advice verbally and in writing, outlining his statutory duties as a trader and steps that he could take to resolving the various grievances.”

Advice was also provided to complainants about how devices might be recovered and the options available through civil legal processes.

Engagement ‘unmet’

The council has now confirmed that attempts to continue dialogue with Mr Grant have not been successful.

The spokesperson said: “Since this early engagement Trading Standards colleagues have been unable to obtain updates from Mr Grant, and attempts to engage in further dialogue have gone unmet.”

The authority added that it remains aware of ongoing complaints and unresolved issues.

“The Trading Standards Service is aware that certain matters remain unresolved and of wider complaints and will continue to appraise the nature of these issues and whether a criminal investigation might be warranted.”

Officers also confirmed they were aware of changes to trading addresses and company status connected to the business.

Legal powers complex

The council explained that newer consumer protection legislation — including the Digital Markets, Consumers and Competition Act 2024 — provides civil enforcement mechanisms designed to encourage compliance by traders, but these processes can be lengthy and depend on engagement from the business concerned.

Growing number of complaints

The Herald has been contacted by a significant number of individuals who say they paid money for repairs, devices or services that were delayed, not delivered, or subject to refund disputes.

Others claim equipment was not returned, while former workers have also alleged unpaid wages.

Mr Grant has previously said problems stemmed from a dispute with a landlord which prevented access to customer devices, and has said he was seeking legal advice regarding how property could be returned.

He has since declined to provide further comment.

How to complain

The council said any new complaints relating to Steven Grant or Computer Solutions Wales should be reported to the Citizens Advice Consumer Service, which acts as the national gateway for Trading Standards referrals.

Consumers can contact Citizens Advice on 0808 223 1133.