Supermarket shelves could be bare of certain food and drink items during ‘really difficult winter’ September 6, 2022 Supermarket shelves could be left lacking certain food and drink items this winter if smaller companies go bust amid high energy bills, a food industry leader has warned MPs. It will be a “really difficult winter,” Karen Betts, chief executive, Food and Drink Federation (FDF) told MPs at the Business, Energy and Industrial Strategy Committee [...]
The Sage Group snaps up Seattle software developer Lockstep August 16, 2022 THE SAGE Group, the UK’s largest tech company, has acquired Seattle software developer Lockstep as part of its ongoing efforts to capitalise on the fast-paced growth of cloud computing. The takeover deal will see Sage – a major developer of accounting, HR, and payroll technology – snap up accounting software company Lockstep for an undisclosed sum. [...]
Insolvencies surge to highest rates since financial crash as voluntary bankruptcies hit record levels August 2, 2022 The UK government’s Insolvency Service today said it recorded a higher number of insolvencies over the past three months than at any other point in more than a decade, after the numbers of companies declaring voluntary bankruptcies hit their highest levels since records began. The past three months saw a total of 5,629 English and [...]
Chief Financial Officers should step up and take a more active role in leading their businesses, new report says July 26, 2022 Company Chief Financial Officers (CFOs) should take a more active role in guiding the businesses they run through times of uncertainty, according a new report Big Four accounting firm Deloitte and cloud computing company Anaplan. The report warns that CFOs perception of themselves and their own roles fails to match the perceptions of others, as [...]
Govt expands software scheme to help a million more UK small businesses July 25, 2022 A government scheme that slashes the price of leading software, boosting productivity and growth of the UK’s small businesses, has more than tripled its reach of UK firms from today.
Liz Truss promises post-Brexit bonfire of EU rules that hinder UK growth July 22, 2022 Tory leadership candidate Liz Truss has vowed to seize the opportunities posed by Brexit by scrapping EU regulations that hinder the UK’s growth. The Conservative MP said that if she becomes prime minister, she will scrap any EU rules that hinder investment or fail to support growth in the UK economy by 2023. If Truss [...]
City watchdog tells banks to treat small businesses ‘fairly’ during cost-of-living crunch July 12, 2022 The UK’s financial watchdog has told Britain’s top banks to improve their treatment of struggling small business owners when collecting and recovering debts. The UK’s Financial Conduct Authority (FCA) said Britain’s banks should take action to ensure fair treatment of small and medium enterprise (SME) customers, after the watchdog uncovered repeated instances of failures during [...]
Small businesses lambast government’s price cut plan for being a “slap in the face” June 29, 2022 Asking small businesses to cut product prices as a way for the government to help Brits with the cost-of-living crisis was deemed as a “slap in the face” by trade bodies. The Federation of Small Businesses (FSB) argued that forcing small firms to “soak up additional costs just isn’t realistic,” as business owners are no [...]
Record £11.9bn invested in London’s smaller businesses in 2021 June 22, 2022 Equity investment in London’s smaller businesses hit a record £11.9bn in 2021, according to data released today by the British Business Bank. This was an 89 per cent increase year over year, with the number of deals announced in the capital increasing by 23 per cent to 1,286, the Bank’s annual Small Business Equity Tracker showed. The upward trend continued in [...]
Female founders face greater risk of equity dilution than men June 8, 2022 Female founders are significantly more vulnerable to the dilutive effects of equity funding than their male counterparts, according to new research from JP Morgan, which shows women, on average, give away much larger stakes in their businesses than men. The UK’s 10,647 female led businesses raised a record £5.05bn in equity investment in 2021, whilst [...]