Latest News from Business News Wales
Business News Wales
14 hours ago
- Business
- Business News Wales
In the Age of the Internet, How Safe Really are Our High Streets?
The high street has survived a lot in recent years. The rise of online shopping, declining footfall, and even a pandemic. But what happens when the threat isn't visible through a shop window – or even based in the same country? In the past few weeks, household names in retail like M&S and the Co-op – and even Harrods – have found themselves in the eye of a 21st-century storm. Each hit by cyberattacks that disrupted services, exposed data and left thousands of customers wondering just how safe their details really are. These weren't technical glitches. They were deliberate, targeted attacks – the kind that knocks confidence as much as they do operations. And that knock is already being felt: YouGov data reported by Retail Week shows trust in M&S fell by six percentage points in the days after the breach. For a brand built on quality and reliability, that's a hit that won't fade quickly. But while headlines focused on what was stolen or which systems went down, there's a more human story running underneath. A colleague of mine had planned to collect a tailored order for a family event from M&S. Everything booked, everything paid. Then came the breach – and radio silence. No tracking, no updates, no suit. With days to spare, the situation forced them into a mad dash to find alternatives. It was stressful and expensive and felt completely avoidable. This is what cyberattacks do. Not just to data, but to people. They creep into the everyday and quietly unravel it. I've worked in digital infrastructure for more than two decades. And if there's one thing I've learnt, it's this: most people only think about cyber security when something breaks. Until then, it's background noise. An IT problem. Somebody else's job. But these recent attacks show us how thin the line is between trust and disruption. And while big brands might eventually bounce back – with teams of comms professionals, legal advisors and tech support – smaller businesses don't have that same buffer. I speak to café owners, freelance designers, logistics firms. People who are brilliant at what they do, but not always switched-on to the risks that sit behind a single email click or a weak password. They'll say things like: 'Why would anyone come after us?' The truth is attackers don't need a reason. Just an opportunity. Cybercriminals aren't always criminal masterminds. Often, they're opportunists. They exploit moments of carelessness – a spoofed email here, a phishing link there – and work fast once they're in. What starts as a minor crack becomes a system-wide problem in hours. And the damage isn't just technical: it's financial, emotional and reputational. For businesses already juggling rising costs, staff shortages and customer expectations, one breach can tip the balance. But here's the good news: you don't need to be a cyber expert to make a start. Most attacks don't happen because systems are complex – they happen because the basics get missed. Things like keeping software and antivirus updated, securely backing up files, knowing who has access to what and adding a firewall. Even simple conversations can make a difference. When was the last time your team talked about cyber security, beyond ticking a training box? Would they know what to do if a suspicious message landed in their inbox? These aren't big, flashy changes. But they're the kind of steps that build resilience. The kind that means, when something does go wrong, you're not left completely exposed. Because while it might be M&S or the Co-op making the headlines today, tomorrow it could be any of us. But this isn't about fear. It's about realism; about knowing that our high streets – for all their charm and history – now rely on digital systems. Stock checks, tills, loyalty programmes, customer records and databases – it's all online. And if that digital thread unravels, the impact is real, fast and felt by everyone from the office to the shop floor. No system is bulletproof. But a bit of awareness – and a few basic habits – can go a long way. Because in a world where the next attack could be just a click away, the smartest response isn't panic. It's preparation.
Business News Wales
15 hours ago
- Business
- Business News Wales
ACCA Launch New BSc (Hons) Professional Accountancy Programme
ACCA (the Association of Chartered Certified Accountants) and the University of London have collaborated on the launch of a new BSc (Hons) Professional Accountancy programme. This innovative programme integrates studies for the ACCA Qualification with those for the University of London BSc (Hons) Professional Accountancy into one study route, meaning that students can achieve both as part of their route to becoming members of the leading global accountancy body, which has more than quarter of a million members across 180 countries. The BSc (Hons) Professional Accountancy has been designed to fit into a student's journey through the ACCA Qualification, with a clear pathway for those wanting to attain a degree. ACCA students will be able to apply for the degree from December 2025. Like the ACCA Qualification, students will have the flexibility to study for the BSc online anywhere in the world. They can choose between supported online learning or, as it becomes available, face-to-face tuition support, through the University of London's network of Recognised Teaching Centres. Alan Hatfield, ACCA executive director – content, quality and innovation, said: 'Choosing between a professional and an academic qualification is a significant dilemma for many students. This new route offers a great career launchpad for those who want to do both at the same time. 'University of London is a world-renowned university with a global reach and values that mirror ours. This new route supports our efforts to increase inclusion and opportunity in the accountancy profession, and to bridge the accountancy skills gap that exists in many countries.' Dr Sky Zheng, executive director of University of London Worldwide, said: 'We have a longstanding commitment to innovating the way we provide accessible, quality, distance education to students around the world. This includes providing courses that allow students to choose the best learning experience to suit them and their needs, whether professional or academic. 'This BSc programme, delivered in collaboration with ACCA, gives students the best of both worlds – gaining both credentials simultaneously to improve their career prospects in global accountancy. We look forward to helping develop the next generation of qualified professionals who can meet the evolving demands of the business world.' The BSc (Hons) Professional Accountancy builds on an existing collaboration between the two bodies under which ACCA members and affiliates have the opportunity to attain an MSc in Professional Accountancy. Find out more here .
Business News Wales
15 hours ago
- Business
- Business News Wales
Next Generation of Tidal Stream Turbine Blades to be Developed in Wales
A project being supported by the Welsh Government is aiming to develop the next generation of tidal stream turbine blades, with the potential to transform the tidal energy industry. It will see the Advanced Manufacturing Research Centre (AMRC) Cymru, based in Broughton, team up with Menter Mon and the Offshore Renewable Energy (ORE) Catapult's Welsh team to improve the efficiency, durability and overall performance of tidal energy blades. The project is one of five to receive a share of £1 million from the Welsh Government as part of the VInnovate programme, which is run by the Vanguard Initiative (VI) to promote collaborative innovation across industrial regions in Europe, with a focus on small and medium enterprises (SMEs). Also involved in the project are two Galician firms – Magallanes Renovables, a marine renewable energy infrastructure manufacturer, and D3 Applied Technologies, a research organisation specialising in the fields of aerodynamics and hydrodynamics. Andy Silcox, interim chief technology officer at the AMRC, said: 'Wales is already recognised as a trailblazer in the establishment of tidal energy sites, and a hub for cutting-edge marine energy research, contributing its extensive knowledge and experience. 'This collaboration between AMRC Cymru, the Offshore Renewable Energy Catapult and Menter Mon will create a strategic partnership among the regions of Wales and Galicia, bringing together a unique blend of expertise and innovation in the field of renewable energy. 'Supporting the design and development of the newest tidal turbine blades, the project will lay the groundwork for a lasting collaboration, driving future innovations and projects in renewable energy to contribute to a more sustainable energy landscape.' More projects from Wales received funding in the 2024 VInnovate funding tranche than any other region. Welsh SME's and organisations are now being invited to apply for VInnovate 2025 funding. Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, said: 'Wales' research and development sector is internationally renowned, with academia, industry and government working together to deliver big leaps in renewable energy innovation in particular. 'This culture of innovation has been championed and guided by our Wales Innovates strategy, laying the foundations for a green and prosperous future for Wales driven by collaborative innovation and new technologies that can have a real and lasting positive impact on every part of our society. 'I encourage organisations to seize the opportunities presented by programmes such as this to think big, collaborate internationally and further strengthen our innovation ecosystem and advanced manufacturing capabilities.'
Business News Wales
2 days ago
- Business
- Business News Wales
Welsh Vineyards Prepare for Welsh Wine Week 2025
Welsh Vineyards Prepare for Welsh Wine Week 2025 Welsh vineyards are preparing for Welsh Wine Week 2025, a celebration of the exceptional quality and diversity of wines produced in Wales. Now in its fifth year, Welsh Wine Week will take place from 30 May to 8 June. This week-long event aims to highlight the dedication and passion of Welsh vineyards, offering a variety of activities and events from vineyard tours, tastings, meet the producer sessions, promotions, and celebrations. Welsh Wine Week is organised by the Food & Drink Wales Drinks Cluster, part of the Welsh Government's clustering initiative and works in partnership with drinks producers and vineyards to promote the industry and its production of world-class products. Richard Morris of Ancre Hill Estates said: 'The Welsh wine industry has been growing over the past 10 years and is becoming an integral part of the Welsh economy. Welsh Wine Week represents a pivotal moment for the Welsh Wine Industry, shining a spotlight on the exceptional quality and unique character of our wines. 'It's a time when we come together to celebrate the fruits of our labour and the growing recognition of Wales as a distinguished wine-producing region. The week is about more than just wine; it's about community, culture, and the collective effort to elevate Welsh viticulture on the world stage.' The Welsh wine industry has seen remarkable growth and success in recent years. With around 50 vineyards now operating across the country, Wales has established itself as an innovative producer of high-quality wines and is becoming renowned for boutique-style wines using grapes suited to cooler climates. Gwen Davies of Vale Vineyard – Gwinllan y Dyffryn, said: 'We are thrilled to be part of Welsh Wine Week 2025. This event allows us to share our passion for winemaking with a wider audience and showcase the exceptional quality of Welsh wines. The Welsh wine industry means a great deal to us, as it represents not only our livelihood but also our beautiful country and commitment to sustainable agriculture. 'Welsh Wine Week presents a unique opportunity for us to connect with wine enthusiasts, educate them about our processes, and celebrate the collective achievements of Welsh vineyards. We look forward to welcoming visitors to our vineyard and sharing our story.' The unique microclimates and landscapes of Wales provide ideal conditions for growing a variety of grapes, resulting in award-winning red, rosé, white, and sparkling wines. The industry is also playing an increasing role in the visitor economy, with many vineyards becoming popular tourist destinations. The Welsh Government's Drinks Cluster has been instrumental in supporting the industry, aiming to increase the sector's value tenfold to £100 million by 2035. The drinks industry makes a significant contribution to the Welsh economy, with a turnover in excess of £800 million, a Welsh retail sales value of over £950 million, and employs 12,000 people. The week-long festivities will also feature a showcase event in Cardiff for trade and press, where attendees can sample a selection of wines while mingling with producers and fellow wine lovers.
Business News Wales
2 days ago
- Business
- Business News Wales
UK-EU Trade Deal Is Welcome News – But the Devil Will Be in the Detail
The recent announcement from the UK Government about the UK-EU relationship re-set is likely to be welcome news to Wales' SMEs. The deal set out measures covering a dozen different areas and aimed at an improving partnership with the EU over the coming years. So what are the key takeaways for Welsh SMEs? With total Welsh exports to the EU amounting to £10 billion in 2024 and representing just over 60% of Wales's worldwide exports, the EU is undoubtedly our closest trading partner. However, those exports fell by 13.4% from 2023 levels, reflecting the increased friction resulting from our departure from the EU. Taking a more detailed look at the agri-food sector, which is so important to the overall Welsh economy, the good news is that the new Sanitary and Phytosanitary measures (SPS) should ease trade between the UK and the EU by cutting some of the bureaucratic hurdles that have previously caused issues for our exporters. 75% (£611 million) of Welsh food and drink exports in 2023 were to EU countries, with eight of the top 10 export destinations being EU countries, clearly demonstrating the importance of this trading partner. When we look at the top categories, meat, cereals and dairy and eggs are the top, making this deal important to the Welsh agricultural sector. With no apparent time limit to the measures, the deal should also provide some much needed stability for our food and drink producers. However, it is unclear when the measures will come into force, and whether or how the measures will be phased in. In practice, it looks like some routine checks on animal and plant products will be stopped, allowing these types of products to move more easily between the UK and EU. This could reduce both the costs of these checks and the time to move goods through border posts. And of course, speed of transit through border checks is vital for perishable goods and avoiding food waste caused by border delays and the costs of destruction. The upside of this reduced friction is that our agri-food products will be able to be more competitive in those export markets. Unfortunately, we know that, post the EU Exit, some smaller businesses just couldn't cope with the increased paperwork and costs of compliance and therefore completely stopped exporting to the EU. A further simplification will the removal of Export Health Certificates which has been a significant cost for businesses. This is particularly good news for those small Welsh food producers who add significant value to primary produce from our farmers. Of course, there will still remain regulatory differences to navigate, and it remains to be seen how quickly our food and drink producers who were exporting to the EU will be able to boost trade. Sadly, we know that the relationships between exporters and EU distributors suffered when those distributors were unable to reliably and cost-effectively source products from some of our artisan producers and have since found alternative suppliers. These relationships will need to be rebuilt and that takes time. For Welsh service providers, the package of measures around business mobility and recognition of qualifications should make it easier for service businesses to expand into and trade with the EU. Sectors likely to benefit from these measures include professional services, IT and digital services. And, of course, Wales's thriving creative services sector should benefit from the measures announced as part of the touring artists package. It was no great surprise that defence and security featured so strongly in the measures announced, given the geo-politics that have become the backdrop to the daily news cycles. This again could provide opportunities for Welsh businesses which support defence supply chains to access the EU's €150 billion Security Action for Europe (SAFE) instrument, which is designed to boost defence production across the EU. Defence supply chains are wide ranging, covering cyber security, advanced materials and manufacturing, aerospace, AI, autonomous systems, precision engineering to name a few and we have businesses in Wales with this type of expertise. Finally the youth mobility scheme, although yet to be specified, promises to provide opportunities for cultural and work exchange between the UK and EU. Indications are that the scheme will be time limited and a cap is to be agreed, so it is difficult to assess whether the scheme will help to address any particular labour/skills shortages. However, it could potentially mean that SMEs may be able to benefit from a time limited opportunity to attract talent from the EU, perhaps bringing much needed language skills, particularly for those businesses looking to re-build their EU exports, to support short-term projects, or to cope with short-term seasonal demand. And of course, our own young people can benefit from such a scheme, returning to our workplaces with enhanced skills which add value to our economy. Overall, the measures announced feel like a step in the right direction for businesses, but, as always with trade deals, the devil is very much in the detail. We will be watching carefully to understand the how Welsh businesses can maximise the opportunities from this deal and minimise any risks. And time will tell how long it takes to re-invigorate those business to business relationships between our exporters and distributors and customers in the EU.
