AFTER more than 30 years a business supporting and advising other set ups in the area is set to close.

PBI (Pembrokeshire Business Initiative) announced this week that it will close at the end of the month, citing reduced European funding and working contracts as the reason.

It said that its “remaining assets” will be committed to PLANED (Pembrokeshire Local Action Network for Enterprise and Development) but details on what that amounts to were not forthcoming.

In addition PBI will be making £15,000 available to Pembrokeshire County Council to support its Youth Enterprise programme.

PBI chairman, Ted Sangster said: “It is with regret that the board has had to make this decision after 34 years of being the main business support provider in Pembrokeshire, but the current economic climate has forced the issue.”

In the 34 years of trading PBI was at the forefront of helping start-up businesses, assisting more than 5,500 clients leading to 1,785 starting up, with a survivability rate of 96%.

PLANED is due to pick up any ongoing business networking and support in the community in Pembrokeshire and will be available to help SMEs (Small and Medium sized businesses) from June 2017.

Gordon Barry, PLANED board member said: “After many years of the close working relationship with PBI throughout Pembrokeshire, PLANED are looking forward to continue the principles and legacy left by PBI to the business community.”