UK registers record of new businesses following “the great resignation” News businesses The UK has registered a record high of new businesses following the Covid-induced “great resignation.” According to data from accountancy firm Hazlewoods, in the last 12 months 319,000 news businesses were created, most of them e-retailers or delivery firms. The number of retailers in Britain has jumped 15 per cent, from 295,000 to 339,000 while [...]
Dunelm criticised for ‘excessive’ £4m pay package for chief exec Retail Home furnishings retailer Dunelm is under pressure over a £4m pay package for its chief exec amid accusations that the deal is “excessive”.
Bank of England will ‘have to act’ to curb inflation Bank of England Governor Andrew Bailey has signaled that the Bank of England is gearing up to increase interest rates. The central bank is considering raising interest rates for the first time since the onset of the coronavirus crisis due to increasing inflation risks. He believes the surge in energy prices raises the risk of [...]
UK business insolvencies highest in September October 16, 2021 September registered the highest number of business insolvencies since March 2020, reported the BBC. The number of companies going bust increased from 1,349 in August to 1,446 the next month. Compared with the same month last year, in September 2021 56 per cent more firms shut down, including energy providers People’s Energy and Igloo Energy. [...]
Staff shortage warning for City’s financial services sector October 14, 2021 Over a fifth of financial services firms have warned that the ongoing staff shortage is limiting investment in the sector, according to a new report by the Confederation of British Industry (CBI) and PwC. “In such a competitive market, ensuring the UK’s process for attracting global talent is quick, efficient and workable is key – [...]
Robert Walters’s profit powered by hot job market and post-pandemic boom October 7, 2021 A hot job market and post-pandemic boom have helped Robert Walters to report a profit which exceeded expectations. Robert Walters reported a gross profit of £91.8m during the third quarter, an increase of 26% from the same time last year. The recruitment firm reported a 26 per cent year-on-year gross profit up from £72.8m from [...]
UK firms to hire more staff as Covid recovery boosts confidence July 12, 2021 UK firms to hire more staff as Covid recovery boosts confidence
Business growth returns across financial services sector in second quarter July 8, 2021 Business volumes across the financial services sector in the second quarter grew at its fastest pace since June 2017, after stalling in the previous quarter. Growth in business volumes across the financial sector in the second quarter was at 40 per cent, its fastest pace since June 2017, and is expected to continue in the [...]
Covid: £2.5bn business rates debt looms over local councils, new analysis says June 28, 2021 UK firms now owe local councils nearly £2.5bn in unpaid business rates, according to new analysis, as the national debt crisis swells. Countless firms have seen their debt climb higher over the pandemic period, with many businesses stifled by restrictions and forced to shut their doors for several months. As relief, the government has offered [...]
CBI: UK economy to grow 8.2 per cent this year in return to pre-Covid level June 18, 2021 Britain’s economy will bounce back to its pre-Covid level by the end of the year, despite a delay to the end of lockdown restrictions, economists said today. The CBI has upgraded its latest forecast for the UK economy, predicting GDP growth of 8.2 per cent this year, up from a previous forecast of 6 per cent. [...]