Pensions committee warns industry is at risk of next mis-selling scandal over new freedoms October 19, 2015 The work and pensions select committee is today publishing its report on pension freedom guidance and advice, in which it blasts reforms introduced in April as being “insufficient”. The report, the result of an inquiry, announced in July, into recent pension reforms, states that “freedom to choose” is not enough: “People must have the freedom to make a well-informed [...]
Retail website StreetHub reveals $2.6m funding round led by Octopus Ventures October 19, 2015 StreetHub, a network of independent retailers, has announced a $2.6m (£1.7m) funding round, led by Octopus Ventures. The group also received investments from Index Ventures, which has stakes in online retailers Asos, Farfetch and Net-a-Porter, among others, as well as a number of other angel investors. The new funding round coincides with the launch of [...]
The ultimate connection: Hyperoptic’s Dana Tobak on recalcitrant councils and politics in taxis October 18, 2015 The thing some have been slow to come to terms with is that BT is not the only solution," says Dana Tobak, when I ask her what the UK is doing wrong when it comes to internet provision. Tobak co-founded fibre-based internet service provider Hyperoptic in 2011. She and business partner Boris Ivanovic, who she [...]
Why Shoreditch is still so attractive for young firms – Investec Comment October 18, 2015 For a young business finding its feet, office space is a classic challenge. Alongside being a sizeable overhead, the question of how much space you take and how long you take it for is not easily resolved. Landlords will typically want to sign you up for as long as possible. But while your company is [...]
Abundance Pension launches world’s first P2P lending Sipp October 17, 2015 The world's first peer-to-peer lending (P2P) self-invested personal pension (Sipp) has been launched by P2P investment provider Abundance. The Abundance Pension lets individuals invest in renewable energy projects as part of their retirement savings. However, it comes at a time when the government is scrapping a green tax exemption that's been enjoyed by renewable energy companies since [...]
UK farmers get a funding boost: £138m given to rural communities to help them grow October 16, 2015 In an attempt to help UK farmers grow and diversify their business, the government is giving them access to £138m of funding. Under a scheme dubbed LEADER, rural communities will be able to use the money to support projects in their local area, such as the creation of farm shops and ice cream parlours, or the [...]
The government just made it easier to hire foreign tech talent with a new “tech nation” visa scheme October 16, 2015 The government is making it easier for the UK's growing technology industry to hire talent from outside the European Union by creating a new "tech nation" visa scheme. There are four key components to the new scheme: a fast-track route that will enable rapidly-growing companies easier access to the right candidates when it is most needed [...]
The UK’s small companies are set to raise more than ever to fund growth October 15, 2015 The UK's emerging companies are on track to raise record levels of capital funding this year, with the total for the last nine months at £851m, catching up with the full year total for 2014 of £930m. Over the three months to the end of September, £330m was raised to grow smaller business, up £110m [...]
Barclays is teaming up with blockchain startups Chainalysis and Wave as the bank’s bitcoin experiment expands October 15, 2015 Barclays has signed contracts with two blockchain startups in what the bank is calling a “game-changer”. This is one of the first times a major bank has opened up for such a cooperation with blockchain clients, as many bitcoin companies have had difficulties gaining access to banking services. Barclays chief design and innovation officer Derek [...]
BDO partner Gary Hanson how best to tighten up the crowdfunding sector October 14, 2015 What is it like to be in professional services and working with an incredibly fast-growth sector? In 2014, UK peer-to-peer and crowdfunding platforms made £1.74bn available to firms and individuals, with growth of 168 per cent in Britain and 144 per cent across Europe. This year, those volumes will likely have doubled. Accountancy [...]
