The Treasury’s bank referral scheme, intended to increase finance access for small businesses, has come under heavy scrutiny after a recent review revealed it has secured loans for only one in twenty companies referred. Under the scheme, nine major banks are required to refer small businesses they decline for loans to independent platforms that connect…
The UK’s motor finance industry could be heading for a financial storm reminiscent of the Payment Protection Insurance (PPI) scandal. A recent Court of Appeal ruling found car dealerships and lenders liable for failing to disclose commissions to customers, a precedent that could unleash billions in compensation claims. For decades, PPI haunted UK banks, ultimately…
Aston Martin Lagonda, Britain’s only carmaker listed on the London Stock Exchange, is grappling with substantial financial setbacks, missing all 2024 targets as production cuts, supply chain issues, and a steep drop in Chinese demand impact performance. The luxury automaker, led by new CEO Adrian Hallmark, is burning through cash at over £1 million a…
There is no denying the extraordinary benefits mentoring provides for both businesses and individuals; from increasing personal confidence and motivation, to establishing a positive work culture, and increasing retention rates within organisations; the positive impacts are endless. Despite this, only 28% of small and medium sized businesses currently make use of mentors, why is this?…
For the second year running, delivery firm Evri has been named the UK’s worst-performing parcel delivery company, with nearly half of its customers reporting issues. According to Ofcom, the UK’s postal regulator, 44% of customers who used Evri in the last six months encountered delivery problems — the highest rate among all 10 companies assessed….
Enate, founded by Kit Cox in 2011, is an enterprise AI and orchestration platform designed to help businesses streamline their operations. Based in Cheltenham, Enate was born out of Kit’s frustration with the outdated tools, like spreadsheets and shared mailboxes, that many companies relied on to manage complex services. Enate’s solution offers a single platform…
Lord Bamford and his family have pocketed a £300m windfall from their JCB business empire, following a robust year for the construction equipment manufacturer that saw profits surge by 44% to £805m in 2023, according to the latest accounts. This substantial dividend payment was approved by Bamford in late May, shortly after the recent general…
Chancellor Rachel Reeves has announced a significant shift in the UK’s fiscal policy framework, confirming plans to introduce a new “investment” debt rule in next week’s Budget. This change is expected to free up over £50 billion in borrowing capacity, earmarked for long-term capital investment projects, while maintaining fiscal discipline to reassure financial markets. Under…
Let’s assume…you’re a business leader who has worked hard to empower your team to fly your company flag with confidence and absolute clarity on your brand and what you represent. This means you’ve successfully created a culture where your vision, purpose and core values are deeply embedded and understood, weaving through every decision made and…
Angela Rayner’s ambitious overhaul of workers’ rights could burden UK employers with nearly £5 billion in additional costs each year, according to an impact assessment published by the government. The reforms, proposed in the Employment Rights Bill, could result in businesses raising prices, cutting back on wages, or reducing investment as they grapple with a…
Almost a third of UK businesses are urging the government to reduce post-Brexit regulations and red tape to support British trade, according to a survey conducted by Santander. The survey reveals that while there is a growing sense of optimism among small to medium-sized businesses, many are calling for action to ease the burdens imposed…
The UK’s hospitality sector is facing a potential £900 million financial blow when business rates relief expires in spring 2024, prompting urgent calls for reform. Industry leaders have warned that without action from Chancellor Rachel Reeves in the upcoming budget, business rates will quadruple when relief ends on 31 March, costing the sector an additional…
A record number of UK businesses are facing significant financial distress, underlining the precarious state of the economy as Chancellor Rachel Reeves prepares to unveil her first budget on 30 October. A report by Begbies Traynor, the insolvency specialists, revealed that 632,756 companies were at substantial risk of failure in the three months leading up…
The UK tech industry is on edge as speculation mounts over potential changes to Capital Gains Tax (CGT) in the upcoming Autumn Budget. Leading audit and advisory firm Blick Rothenberg has expressed concerns that such changes could have a detrimental impact on the fintech ecosystem, a key driver of the UK’s global tech reputation. Simon…
UK retail sales rose unexpectedly in September, defying analyst predictions of a contraction, as consumers increased spending on technology despite impending tax rises and economic uncertainties. According to the Office for National Statistics (ONS), retail transactions grew by 0.3% in September, building on a strong 1% increase in August. Analysts had forecast a 0.4% decline…
