BusinessIn Wales

Manufacturing, Marketing, Technology & Innovation

Dragon Group’s Dean Jones on branding, expansion and supporting Welsh rugby

Dragon Group’s Dean Jones on branding, expansion and supporting Welsh rugby Dragon Group’s Dean Jones on branding, expansion and supporting Welsh rugby Daniel Bevan – Senior Journalist Subscribe to the Businessin Wales daily newsletter for FREE here.  The Dragon Group recently hosted a breakfast networking event with Cardiff Rugby to coincide with the British and Irish Lions’ test warm-up win against the Brumbies. Whilst good rugby was on show, so was good conversation, as the Group’s Head of Sales and Marketing, Dean Jones, sat down for a Q&A session with Businessin Wales’ Daniel Bevan. As the Dragon Group continues its expansion across Wales and the UK, most recently adding Northern Ireland to its coverage area through two state-of-the-art screens in Belfast, the conversation was wide-ranging, from how the business was built, to what’s driving its recent diversification, and how brands can stay authentic in an age dominated by AI and shifting consumer behaviours. Dean Jones began his journey in advertising, establishing Route Media, which would go on to be acquired by Rhys Harrington’s Dragon Signs. That merger laid the foundation for what would become the Dragon Group, which now includes Dragon Digital, Colour Studios, and Businessin Wales, as well as its sister brand Sportin Wales. “We started with signage, but over time we’ve added more businesses that help other brands stand out, whether that’s through signage, public relations, out-of-home advertising, or sports partnerships,” Jones explained. “My background is in commercial radio, and I saw the gaps, particularly in super-local markets,” he said. “We started with mobile digital vehicles and scaled up from there. Today, I’d say we’re the fastest-growing out-of-home provider in the country.” “Sportin Wales was born out of our passion for sport,” Jones said. “It connects brands with athletes and public figures, using influencer marketing to reach different audiences in an authentic way.” “Businessin Wales came naturally after that,” he continued. “A lot of businesses use sport for marketing, so it made sense to offer them a dedicated platform. We’ve achieved six months’ worth of growth in six weeks.” Jones offered candid advice for businesses navigating today’s advertising landscape, especially in a post-COVID world, where budget constraints and changing habits have reshaped priorities. “The big challenge is balancing brand awareness with return on investment,” he said. “Long-term brand-building comes from things like sports partnerships and billboard ads, while short-term ROI might come from social campaigns or in-store promotions.” He was also keen to point out that while digital and AI-driven tools are powerful, the human touch remains essential. “AI is everywhere, but it can’t replicate creativity or empathy,” he said. “Consumers can spot inauthentic content a mile off. That’s why brand authenticity has never been more important.” When asked about the enduring power of branding, Jones shared a relatable example. “People will pay £4.50 for a Starbucks coffee and £1 for the same coffee at the corner café. Why? Branding,” he said. “Your brand is what people say about you when you’re not in the room. It influences trust, perception, and loyalty.” With over 20 years of experience in advertising and campaign strategy, Jones shared his go-to formula: “It’s simple: who, what, and why. Know who your audience is, be crystal clear about what you want them to do and give them a compelling reason to do it.” As a proud sponsor of Welsh regional rugby, Dragon Group is deeply embedded in the local sports community. “It’s not just about brand exposure; it’s about relationships,” Jones said. “The rugby clubs bring people together. That sense of community helps build meaningful connections with businesses and partners.” He recalled the camaraderie seen at Cardiff Rugby during tough times off the pitch last year. “Everyone pulled together to deliver an amazing season for fans and partners. We’re proud to be part of that journey. It’s a great place to be as a business.” Dragon Group continues to evolve as one of Wales’ most diverse and dynamic brand support companies, with a growing footprint in sport, media, and digital advertising, always with a focus on authenticity, creativity, and human connection. Want more from Businessin Wales? Why not follow us on our socials Linkedin X Instagram TikTok Listen to the Businessin Wales podcast YouTube Spotify Apple Podcasts Audible Uncategorised Glide secures NatWest funding to accelerate UK broadband expansion Residential Property, Technology & Innovation, Uncategorised Principality Stadium set to host opening ceremony of EURO 2028 Tourism & Travel, Uncategorised Swansea: A city on the up! Finance, Public Sector & Government, Residential Property, Tourism & Travel, Uncategorised

Finance

Xeinadin Launches Cardiff Hub to Drive SME Growth Across South Wales

Xeinadin Launches Cardiff Hub to Drive SME Growth Across South Wales Xeinadin Launches Cardiff Hub to Drive SME Growth Across South Wales Daniel Bevan – Senior Journalist Subscribe to the Businessin Wales daily newsletter for FREE here.  Accountancy group Xeinadin, ranked among the top 20 firms in the UK and Ireland, has officially opened a new integrated regional hub in Cardiff, bringing together three long-standing local firms under one roof. The move forms part of Xeinadin’s strategy to expand its presence in Wales and deliver tailored support to small and medium-sized enterprises (SMEs) across South Wales. Led by Sian Lloyd, Hub Managing Partner, the Cardiff office aims to serve as a centre of excellence for regional business support, combining local insight with national reach. “This new office brings together the strengths of three firms that have been part of the fabric of the Cardiff business community for decades,” said Lloyd. “It means clients can now get everything they need in one place, with extra expertise, without making the process more complicated.” The new office currently houses 70 professionals, with the capacity to grow to over 100 staff, positioning it as a major employer in the region’s financial services sector. Recruitment is already underway as Xeinadin invests further into local talent and infrastructure. The hub will provide comprehensive accountancy and advisory services to a wide range of industries including construction, healthcare, hospitality, and professional services—sectors that often face complex regulatory and funding challenges. “The businesses we work with want to speak to someone who understands the local environment and who they can reach easily when something changes,” Lloyd explained. “That’s exactly what we’re here to provide.” Xeinadin’s value to SMEs is reflected in strong client endorsements. Hywel Davis, Construction Director at Integrated Fencing, said: “Xeinadin has been with us every step of the way and has helped us visualise what our future could look like.” His colleague, Scott Thomas, Commercial Director, added: “From day one, Xeinadin have supported every financial decision, helping us grow from £1.68 million in our first year to over £6 million in the year just gone. The team feels like an extension of our business.” Jason Smalley, Managing Director of Tutis Energy, echoed the sentiment: “We’ve worked with Xeinadin for a decade, helping me in my journey from humble beginnings right up to where we are today. The team is responsive, consistent, and always delivers what they promise.” The Cardiff hub forms part of Xeinadin’s wider regional growth plan, which blends local leadership with the support of its broader UK and Ireland network. The firm’s approach focuses on accessible, proactive advice that evolves with each client’s business needs. “This investment in Cardiff reflects our confidence in the Welsh economy and our commitment to helping businesses here thrive,” said Lloyd. As Xeinadin deepens its footprint in Wales, the Cardiff hub stands as a milestone in the region’s professional services landscape, championing sustainable growth, skills development, and genuine local engagement. Want more from Businessin Wales? Why not follow us on our socials Linkedin X Instagram TikTok Listen to the Businessin Wales podcast YouTube Spotify Apple Podcasts Audible Uncategorised Glide secures NatWest funding to accelerate UK broadband expansion Residential Property, Technology & Innovation, Uncategorised Principality Stadium set to host opening ceremony of EURO 2028 Tourism & Travel, Uncategorised Swansea: A city on the up! Finance, Public Sector & Government, Residential Property, Tourism & Travel, Uncategorised

Finance, Technology & Innovation

Hartmark strengthens UK–China trade ties with new export credit collaboration

Hartmark strengthens UK–China trade ties with new export credit collaboration Hartmark strengthens UK–China trade ties with new export credit collaboration Daniel Bevan – Senior Journalist Subscribe to the Businessin Wales daily newsletter for FREE here.  North Wales-based fintech and advisory firm Hartmark Consultancy Limited has bolstered its position in international trade assurance following a high-level engagement with China’s official export credit insurer. The company recently hosted a senior delegation from the China Export & Credit Insurance Corporation (Sinosure) at its North Wales representative office, marking a major step in enhancing UK–China trade relations and reinforcing the role of Welsh fintech in global commerce. Hartmark, a specialist in international debt recovery and export advisory services, demonstrated its proprietary digital trade assurance platform, which supports export credit agencies (ECAs) worldwide with services such as credit and asset investigations, trade validation, collections, and cross-border debt recovery. Tailored specifically for the ECA marketplace, Hartmark’s platform offers a tech-enabled suite of tools that improve due diligence, fraud prevention, and recovery outcomes for global insurers and export agencies. The system supports real-time monitoring and ethical recovery processes, addressing growing demand for transparency and resilience in global trade. “This collaboration underscores our dedication to innovation, regulatory excellence, and global connectivity—empowering international trade,” said Keith Allmark, founder of Hartmark. “As we launch our services across the UK and international markets, we’re proud to champion Wales as a centre of fintech excellence, where regional values meet global ambition.” Backed by FinTech Wales, Hartmark has leveraged regional innovation and inclusive growth strategies to expand its footprint. With a focus on AI integration and robust system design, the company is gaining recognition for delivering effective digital solutions in an area often dominated by multinational players. The latest collaboration with Sinosure reflects growing international confidence in UK-based fintech for trade credit and risk assurance. As economic conditions evolve, such partnerships are expected to become increasingly important for businesses and governments navigating cross-border trade complexities. From its headquarters in North Wales, Hartmark is helping to shape the future of international trade support services—putting Welsh innovation at the heart of a sector critical to global economic stability. Want more from Businessin Wales? Why not follow us on our socials Linkedin X Instagram TikTok Listen to the Businessin Wales podcast YouTube Spotify Apple Podcasts Audible Uncategorised Glide secures NatWest funding to accelerate UK broadband expansion Residential Property, Technology & Innovation, Uncategorised Principality Stadium set to host opening ceremony of EURO 2028 Tourism & Travel, Uncategorised Swansea: A city on the up! Finance, Public Sector & Government, Residential Property, Tourism & Travel, Uncategorised

Finance, Manufacturing, Recruitment, Sustainability & Environment

Dow to shut Barry plant in major European restructuring move

Dow to shut Barry plant in major European restructuring move Dow to shut Barry plant in major European restructuring move Daniel Bevan – Senior Journalist Subscribe to the Businessin Wales daily newsletter for FREE here.  Global chemicals giant Dow has confirmed that its siloxane plant in Barry will be shut down by mid-2026, as part of a broader move to restructure its European operations and reduce global manufacturing costs. The announcement comes as part of a sweeping asset review approved by Dow’s Board of Directors, which also includes the closure of two major facilities in Germany. In total, three upstream production assets across Europe will be retired over the next three years, including the Barry site—one of the company’s key UK facilities. Dow said the shutdown of the Performance Materials & Coatings plant in Barry would allow the company to remove higher-cost and energy-intensive operations from its European portfolio. The company expects the move will ultimately boost profitability and deliver long-term cost savings. The Barry site, which produces basic siloxanes, a key ingredient in sealants, adhesives, and other silicone-based materials, will be decommissioned as part of a global strategy to optimise Dow’s asset footprint. Approximately 800 roles globally will be affected across the three European sites and related corporate actions. The number of roles impacted locally in Barry has not yet been specified. “Our industry in Europe continues to face difficult market dynamics, as well as an ongoing challenging cost and demand landscape,” said Jim Fitterling, Dow Chair and CEO. “We remain committed to enhancing profitability and cash flow while taking proactive steps to rationalise high-cost or non-strategic assets.” Dow has committed to engaging with local stakeholders and following all relevant information and consultation procedures within the UK. The closure of the Barry site will require an estimated cash outlay of $180 million through 2029 and is expected to generate an Operating EBITDA uplift of $90 million annually once fully implemented. The shutdown is scheduled to begin mid-2026, with full closure and decommissioning expected to be completed between 2027 and 2029. In total, Dow is forecasting a cash outlay of approximately $500 million across all shutdowns and corporate actions, with a full EBITDA benefit of around $200 million annually by 2029. The company will record a charge of $630 million to $790 million as a result of asset write-downs, severance costs, and other associated expenses. The Barry plant closure follows Dow’s earlier announcement in January 2025 of a global cost-saving programme targeting $1 billion, which included the reduction of approximately 1,500 roles worldwide. Dow says this latest round of closures reflects its “best-owner mindset”, a strategy focused on maximising the value of its most competitive and strategically aligned assets while divesting or shuttering those no longer viable under current market conditions. Dow, which employs around 36,000 people worldwide and operates in 30 countries, reported $43 billion in sales for 2024. The Barry facility has been a longstanding part of Wales’ industrial landscape, and its planned closure will raise fresh concerns over job losses and economic impact in the Vale of Glamorgan. Local government and business leaders are expected to seek clarity from Dow in the coming weeks as the consultation process begins. Want more from Businessin Wales? Why not follow us on our socials Linkedin X Instagram TikTok Listen to the Businessin Wales podcast YouTube Spotify Apple Podcasts Audible Uncategorised Glide secures NatWest funding to accelerate UK broadband expansion Residential Property, Technology & Innovation, Uncategorised Principality Stadium set to host opening ceremony of EURO 2028 Tourism & Travel, Uncategorised Swansea: A city on the up! Finance, Public Sector & Government, Residential Property, Tourism & Travel, Uncategorised

Public Sector & Government, Tourism & Travel, Transport & Infrastructure

‘Tourism Tax’ passed by Senedd amid backlash from Welsh business leaders

‘Tourism Tax’ passed by Senedd amid backlash from Welsh business leaders ‘Tourism Tax’ passed by Senedd amid backlash from Welsh business leaders Daniel Bevan – Senior Journalist Subscribe to the Businessin Wales daily newsletter for FREE here.  The Welsh Government’s controversial visitor levy, often dubbed the “tourism tax,” has officially been passed by the Senedd by 37 voted to 13, triggering sharp criticism from across the tourism and hospitality sectors. The new legislation, set to take effect in 2027 at the earliest, will give Welsh local authorities the power to charge a per person, per night fee on overnight stays in visitor accommodation, ranging from £0.75 at campsites and hostels to £1.30 for hotels and self-catering accommodation. Finance Cabinet Secretary and former First Minister Mark Drakeford defended the policy, calling it a modest, locally-determined contribution that would allow communities to reinvest in tourism infrastructure. “If councils do introduce it, then a very modest amount of money will be added to the bill of people staying in hotels or other parts of the tourism accommodation sector,” said Drakeford. “That money will be collected and used by local authorities to reinvest in the conditions that make tourism a success here in Wales.” He stressed that the contribution would be small, “less than the price of a sausage roll”, and pointed to similar models in Scotland, Liverpool and across Europe. “Change is always difficult,” he acknowledged. “But these levies are common globally. Our scheme will underpin the industry for the future and ensure that it can continue to be a success story.” However, tourism leaders in Wales are warning that the policy may deliver a severe blow to a sector still recovering from the pandemic and grappling with inflation, staffing shortages and other regulatory changes. “This is the wrong time to implement a tourism tax,” said Jim Jones, Chief Executive of North Wales Tourism, which represents over 1,300 businesses. “We haven’t had the breathing space to return to pre-COVID levels. This adds unnecessary strain on an already pressured industry.” Jones cited a recent survey in which 93% of member businesses opposed the levy, fearing it would deter price-conscious families and force operators to absorb the cost or risk losing trade. “A family of four staying for a week could face an extra £36.40, and that’s on top of 20% VAT, one of the highest in Europe,” he said. “In countries like Spain and Italy where tourism levies exist, VAT is often around 10%. Wales doesn’t have that luxury.” He also expressed doubts over whether the funds raised would truly benefit tourism infrastructure. He said: “Councils are already stretched and on the brink of bankruptcy in some cases. Once they have access to the money, how can we be sure it won’t be redirected to other essential services like adult social care or education?” Echoing those concerns, Ashford Price, Chair of Dan yr Ogof, the National Showcaves Centre for Wales, described the decision as potentially catastrophic for the sector. “We lost five attractions last year and two more this year, including Oakwood, once the No.1 attraction in Wales,” Price said. “Meanwhile, overnight stays are down nearly 30% over recent years.” “Those numbers don’t add up. This is a tax that could actually shrink the tourism economy rather than grow it,” Price added. Price also confirmed that his organisation has cancelled planned investment projects, citing the bleak outlook. “I wouldn’t advise anyone to put money into Welsh tourism right now. It’s heartbreaking.” The policy has also drawn criticism from opposition politicians. Welsh Conservative Finance Spokesperson Sam Rowlands MS called the levy “toxic,” arguing it disproportionately affects working families. “Labour and Plaid’s toxic tourism tax will hit the poorest families the hardest,” Rowlands said. “On the same day that energy, water, and council tax bills rise, Labour Ministers have voted to tax domestic holidays. They are completely out of touch.” He pledged that the Welsh Conservatives would continue to campaign to “axe the tax” and push for a pro-tourism, pro-business policy approach. The bill was helped through the it’s final vote due to Plaid Cymru supporting it. The party committed to working with the Welsh Government, as apart of their co-operation agreement, to implement ‘sustainable tourism’. Although that agreement is not longer in place, the party’s Senedd Members voted in favour of the change. Key Details of the Visitor Levy: £0.75 per person per night for campsites and hostels (excludes under-18s) £1.30 per person per night for all other accommodation types (includes all ages) Applies to stays under 31 days and not used as main residences Exemptions include emergency housing and temporary local authority arrangements Revenue will be retained and spent by local authorities Implementation is optional, with councils able to choose whether and when to adopt the levy Although passed by the Senedd, the earliest the levy could be introduced is 2027. Local councils will determine whether to adopt the measure, and several, including Wrexham and Pembrokeshire, have already signaled reluctance to implement it. In the meantime, tourism businesses are calling for a clear economic strategy to grow the sector, not just tax it. “If you want to sustain public services, you need a thriving economy, not endless new taxes,” Jones said. “We need a plan, not just a price tag.” Want more from Businessin Wales? Why not follow us on our socials Linkedin X Instagram TikTok Listen to the Businessin Wales podcast YouTube Spotify Apple Podcasts Audible Uncategorised Glide secures NatWest funding to accelerate UK broadband expansion Residential Property, Technology & Innovation, Uncategorised Principality Stadium set to host opening ceremony of EURO 2028 Tourism & Travel, Uncategorised Swansea: A city on the up! Finance, Public Sector & Government, Residential Property, Tourism & Travel, Uncategorised

Marketing

Cardiff-based Cowshed named UK PR Consultancy of the Year at CIPR Excellence Awards

Cardiff-based Cowshed named UK PR Consultancy of the Year at CIPR Excellence Awards Cardiff-based Cowshed named UK PR Consultancy of the Year at CIPR Excellence Awards Daniel Bevan – Senior Journalist Subscribe to the Businessin Wales daily newsletter for FREE here.  Cardiff’s own Cowshed has been crowned UK PR Consultancy of the Year at the Chartered Institute of Public Relations’ (CIPR) prestigious Excellence Awards, beating out some of the country’s most established agencies to take home the top honour. Held at the Royal Lancaster London, the 41st annual ceremony gathered over 400 professionals from across the PR and communications industry. Hosted by magician and presenter Ben Hanlin, the evening celebrated the best campaigns, teams, and talent from the past year. Cowshed was recognised for its consistent growth, progressive workplace policies, impressive client portfolio, and a strong commitment to diversity, equity and inclusion (DEI). Founded in 2014 by Vicki Spencer-Francis, the full-service PR and creative agency now boasts a 30-strong team and has become Wales’ most awarded communications firm, according to PRWeek. “In the early days, I would sit at home watching the winners announced on Twitter, wondering if we’d ever get there—and here we are,” said Spencer-Francis. “We don’t have the benefit of London agency connections, so it seemed unlikely we’d ever win something like this. I’m incredibly proud that a female-owned, independent agency from Cardiff has made it—representing Wales on the biggest stage in our industry.” The award follows a string of national accolades for Cowshed’s recent standout campaigns, including: BOG STANDARD – A campaign for phs Group and Prostate Cancer UK advocating for male incontinence bin provision in public restrooms Project Pinpoint – A South Wales Police initiative to encourage public reporting of anti-social behaviour Other high-profile clients include Vattenfall UK’s Pen-y-Cymoedd Wind Farm and national children’s charity Cerebra. The CIPR judges praised Cowshed’s values-driven approach: “Clearly, work with meaning runs through this consultancy. The strategy and actions of this agency are exemplary, and its commitment to DEI and autism awareness sets a high benchmark for the industry. A worthy winner.” Cowshed’s win signals a broader recognition of the thriving creative and communications industry in Wales and highlights the growing influence of regional agencies on the national stage. Want more from Businessin Wales? Why not follow us on our socials Linkedin X Instagram TikTok Listen to the Businessin Wales podcast YouTube Spotify Apple Podcasts Audible Uncategorised Glide secures NatWest funding to accelerate UK broadband expansion Residential Property, Technology & Innovation, Uncategorised Principality Stadium set to host opening ceremony of EURO 2028 Tourism & Travel, Uncategorised Swansea: A city on the up! Finance, Public Sector & Government, Residential Property, Tourism & Travel, Uncategorised

Food & Drink

Steelworker-Turned-Barista Cassius Walker-Hunt Crowned Winner of S4C’s Busnes Bwyd

Steelworker-Turned-Barista Cassius Walker-Hunt Crowned Winner of S4C’s Busnes Bwyd Steelworker-Turned-Barista Cassius Walker-Hunt Crowned Winner of S4C’s Busnes Bwyd ADVERTORIAL You can watch the full series on S4C Clic now! Former steelworker and boxer, Cassius Walker-Hunt has made his mark in the world of Welsh food and drink by being crowned the winner of Busnes Bwyd (Food Business), an S4C series celebrating innovation and ambition in the food industry. The series Busnes Bwyd, which is available to watch on S4C Clic and BBC iPlayer, followed six of Wales’ standout food and drink producers as they went head to head in a bid to win £5,000 in business funding and expert mentorship to take their ventures to the next level.  Over a series of challenges, they were faced with rigorous testing in branding, business planning, and market appeal – guided by two of Wales’ most respected business minds; entrepreneur Marian Evans and Professor Dylan Jones-Evans. Cassius impressed the judges with his community-driven coffee business, Portablo Coffi, based in Aberafan Shopping Centre. Judge Marian Evans said: “Cassius stood out not just for his ‘story’ but for his passion and work ethic. Portablo Coffi is more than just a café – it’s a space rooted in purpose, identity, and community. His journey from steelworker to starting his own business will inspire many. He has the determination needed to ensure the business is one to watch.” From Steelworks to Coffee Visionary At just 28, Cassius has already made his mark across multiple arenas. In 2021, he clinched the elite 92kg Welsh Boxing Championship title. By the age of 25, he was serving as a local councillor.When the last blast furnace at Tata Steel in Port Talbot shut down in September, Cassius was among the 1,900 workers affected. But instead of letting the setback define him, he saw it as a chance to follow a new passion: coffee. With a clear mission – to create exceptional coffee with a personal touch – Cassius launched Portablo Coffi in the heart of Aberafan. He crafted his own signature blend using Arabica and Robusta beans, locally sourced handmade cups and partnered with a neighbouring small business for the café’s cakes. In just over a year, the café has built a loyal customer base. But it’s become much more than just a place to grab a coffee. Cassius regularly hosts walking and running groups, transforming Portablo Coffi into a thriving community hub—where wellbeing, culture, and connection all come together. Now, Cassius is aiming even higher. His next goal is to open his own roastery – and he’s already laying the groundwork, with hopes of taking his brand mainstream. Thanks to Busnes Bwyd’s prizewinning mentorship and financial support, he’s taking bold steps forward: “I’ve already benefited from the mentorship,” says Cassius. “I’ve applied for a grant to help turn the business around, and I even had a stall at Urdd National Eisteddfod Dur a Mor 2025 because of it – which was amazing. People from all over Wales got to see me and the business.” “Once you talk to successful people, they basically just tell you what you need to do.” “I’m investing my cash prize in a roasting machine so I can start producing my own coffee right here. But the mentorship? That’s priceless.” Reflecting on the experience, Cassius says: “I really enjoyed being part of Busnes Bwyd. You might think it’s just a TV series, but for me, it was a learning journey. We travelled around Wales, visited successful businesses, and every task taught us something.” “When I used to win boxing competitions, I’d celebrate with my coach. This time, I was on my own – it was surreal. But it was fantastic.” Want more from Businessin Wales? Why not follow us on our socials Linkedin X Instagram TikTok Listen to the Businessin Wales podcast YouTube Spotify Apple Podcasts Audible Uncategorised Glide secures NatWest funding to accelerate UK broadband expansion Residential Property, Technology & Innovation, Uncategorised Principality Stadium set to host opening ceremony of EURO 2028 Tourism & Travel, Uncategorised Swansea: A city on the up! Finance, Public Sector & Government, Residential Property, Tourism & Travel, Uncategorised

Finance

Welsh business activity grows as inflation eases, NatWest report shows

Welsh business activity grows as inflation eases, NatWest report shows Welsh business activity grows as inflation eases, NatWest report shows Daniel Bevan – Senior Journalist Subscribe to the Businessin Wales daily newsletter for FREE here.  Welsh business activity returned to growth in June, according to the latest NatWest UK Regional Growth Tracker, offering cautious optimism as the country seeks to build on a slow but stabilising recovery from recent economic turbulence. The monthly report, which analyses economic conditions across the UK based on purchasing managers’ indices (PMIs), shows that Wales recorded a Business Activity Index score of 50.5 in June, above the neutral 50.0 threshold that marks growth from contraction. It signals the first expansion in activity since earlier in the year, positioning Wales among the eight UK regions that saw business growth last month. New business activity in Wales also improved, with the New Business Index reaching 53.7, the third highest across all UK regions. The increase reflects a healthier pipeline for Welsh firms, likely driven by recovering domestic demand and easing cost pressures. “New business either rose or was on a more stable footing compared to earlier in the year,” said Sebastian Burnside, Chief Economist at NatWest. “This suggests that recovery momentum is returning in parts of the UK, including Wales.” However, expectations for the next 12 months were more muted. Wales recorded a Future Activity Index score of 55.0, placing it toward the lower end of UK regions in terms of business confidence. Still positive, the figure suggests a degree of caution among firms amid lingering economic uncertainty. Despite the uptick in new orders, employment levels in Wales dipped again, with the Employment Index at 45.5—well below the growth threshold. This reflects broader UK-wide trends, as most regions reported staffing reductions in June, citing cost pressures and underutilised capacity. Wales also experienced a modest decline in backlogs of work, with an Outstanding Business Index reading of 45.4, indicating limited pressure on operational capacity. This reinforces the view that many Welsh firms are still operating below full output potential. One of the more encouraging trends in the report is the continued easing of inflation. Welsh businesses reported slower increases in both input and output prices, with Input Prices Index at 62.2 and Output Prices Index at 53.0. While still indicating rising costs, both figures mark a continued downward trend from earlier peaks. “Businesses in all areas have been able to make smaller and smaller price increases of their own in recent months, relieving some of the pressure on demand,” Burnside said. This softening inflation environment could help restore consumer confidence and improve spending patterns in the months ahead. Across the UK, the East of England, South West, and London led the recovery, with Wales sitting just behind regions like Scotland and the West Midlands. Wales’ position on the business cycle is categorised as “recovery”, meaning the region is growing again, but at a slower pace than its six-month average. NatWest’s regional tracker surveys firms in both the manufacturing and services sectors, providing one of the most closely watched indicators of regional business conditions. While the Welsh economy still faces headwinds, particularly around employment and business confidence, the latest figures suggest that activity is heading in the right direction. The growth in new business and easing of inflationary pressures may help lay the groundwork for stronger performance in the second half of 2025. Want more from Businessin Wales? Why not follow us on our socials Linkedin X Instagram TikTok Listen to the Businessin Wales podcast YouTube Spotify Apple Podcasts Audible Uncategorised Welsh business activity grows as inflation eases, NatWest report shows Uncategorised Glide secures NatWest funding to accelerate UK broadband expansion Residential Property, Technology & Innovation, Uncategorised Principality Stadium set to host opening ceremony of EURO 2028 Tourism & Travel, Uncategorised Swansea: A city on the up! Finance, Public Sector & Government, Residential Property, Tourism & Travel, Uncategorised

Sustainability & Environment, Technology & Innovation, Transport & Infrastructure

FLS Group appoints logistics tech leader Tim Phillips as non-executive director

FLS Group appoints logistics tech leader Tim Phillips as non-executive director FLS Group appoints logistics tech leader Tim Phillips as non-executive director Daniel Bevan – Senior Journalist Subscribe to the Businessin Wales daily newsletter for FREE here.  FLS Group has appointed Tim Phillips, a seasoned leader in logistics technology and digital freight platforms, as Non-Executive Director. The move signals a major milestone in the company’s ambition to become a top-tier digital road freight provider across the UK and Europe. With more than 25 years of experience scaling logistics platforms and leading digital transformation across the sector, Phillips is set to play a key strategic role as FLS Group ramps up its tech-enabled expansion.  His track record includes senior roles at BMW Group, Freightex (acquired by UPS), Coyote Europe, and most recently, sennder Technologies, where he helped scale the digital freight giant to a €1 billion valuation across 11 European offices. Ieuan Rosser, CEO of FLS Group, said: “Tim’s appointment marks a pivotal step in our growth strategy. His experience building and scaling high-performance, tech-led logistics operations will help drive our expansion into new markets, deepen our digital capabilities, and deliver even greater value to our customers.” Phillips brings to FLS a unique blend of operational and technological expertise, including: Specialist knowledge of FTL (full truckload) markets and digital freight brokerage models Leadership in deploying AI/ML tools for dynamic pricing, smart routing, and real-time carrier optimisation Experience scaling digital platforms in complex, multi-market environments An expansive network across the EU’s logistics, technology, and investment sectors Tim Phillips, newly appointed Non-Executive Director, commented: “The logistics industry is evolving fast, and those who combine real-time data with scalable tech will shape the future. FLS already has a strong foundatio, my focus will be on helping them build on this momentum to achieve significant growth and long-term impact across Europe.” FLS Group continues to position itself at the forefront of digital freight solutions, investing heavily in automation, data intelligence, and customer-centric design. Phillips’ appointment underscores the company’s strategic commitment to becoming one of Europe’s most agile and innovative freight operators. Want more from Businessin Wales? Why not follow us on our socials Linkedin X Instagram TikTok Listen to the Businessin Wales podcast YouTube Spotify Apple Podcasts Audible Uncategorised Glide secures NatWest funding to accelerate UK broadband expansion Residential Property, Technology & Innovation, Uncategorised Principality Stadium set to host opening ceremony of EURO 2028 Tourism & Travel, Uncategorised Swansea: A city on the up! Finance, Public Sector & Government, Residential Property, Tourism & Travel, Uncategorised

Finance, Legal, Public Sector & Government, Technology & Innovation

UK to crack down on ‘Crypto Bro’ tax dodgers with new reporting rules

UK to crack down on ‘Crypto Bro’ tax dodgers with new reporting rules UK to crack down on ‘Crypto Bro’ tax dodgers with new reporting rules Daniel Bevan – Senior Journalist Subscribe to the Businessin Wales daily newsletter for FREE here.  HM Revenue and Customs (HMRC) is set to implement sweeping new rules from January 2026 that will make it harder for crypto investors to avoid paying tax on their digital assets. The move is expected to bring in up to £315 million in tax revenue by April 2030, funds that could support over 10,000 newly qualified nurses for a year. Under the Cryptoasset Reporting Framework, individuals who trade cryptocurrencies such as Bitcoin, Ethereum, or Dogecoin will be required to provide personal and tax details to every crypto service provider they use. These providers will, in turn, be legally obligated to report this information to HMRC. Failing to comply could result in penalties of up to £300 per individual for both users and service providers who either withhold, submit incomplete or inaccurate data. James Murray MP, Exchequer Secretary to the Treasury, said: “We’re going further and faster to crack down on tax dodgers as we close the tax gap and deliver on our Plan for Change. These new crypto reporting rules will make sure tax dodgers have nowhere to hide, helping raise the revenue needed to fund our nurses, police and other vital public services.” Crypto platforms will be required to collect and share the following user details with HMRC: Full name, address, and date of birth Tax residency National Insurance number or UK tax reference A summary of crypto transactions The rules, in line with the OECD’s international standard, will also enable HMRC to exchange information with other tax authorities globally, ensuring greater transparency in the digital asset economy. Jonathan Athow, HMRC Director General for Customer Strategy and Tax Design, said: “This isn’t a new tax, if you make a profit when you sell, swap, or transfer your crypto, tax may already be due. These new reporting requirements will give us the information to help people get their tax affairs right.” While the new framework strengthens enforcement, UK crypto users are already required to declare any gains or income from crypto activity in their Self Assessment tax returns. Dedicated sections for crypto transactions are being introduced from the 2024–2025 tax year. Tax obligations can include: Capital Gains Tax for profits from selling or exchanging crypto Income Tax and National Insurance for crypto received via employment, mining, staking or lending Anyone unsure of their tax status can check their obligations or disclose unpaid taxes using HMRC’s Cryptoasset Disclosure Service on GOV.UK. The changes form part of HMRC’s wider effort to reduce tax non-compliance and ensure that everyone contributes fairly to the UK economy. Want more from Businessin Wales? Why not follow us on our socials Linkedin X Instagram TikTok Listen to the Businessin Wales podcast YouTube Spotify Apple Podcasts Audible   Uncategorised Glide secures NatWest funding to accelerate UK broadband expansion Residential Property, Technology & Innovation, Uncategorised Principality Stadium set to host opening ceremony of EURO 2028 Tourism & Travel, Uncategorised Swansea: A city on the up! Finance, Public Sector & Government, Residential Property, Tourism & Travel, Uncategorised

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