Confidence in UK businesses to improve in 2023 2023 Confidence in prospects for UK’s economy are set to improve in 2023, according to an IoD index. The Institute of Directors (IoD) Directors’ Economic Confidence Index measures business leader optimism in prospects for the UK economy. It rose to -58 in December, up from -64 in November with improvements in expectations for revenue, employment, investment [...]
Business rates: Thousands of businesses go bust whilst waiting for rebates HIGH STREET DRAMA Thousands of business sites have foundered in while waiting for rebates over property taxes, according to new data. Research by real estate advisory firm Altus Group has showed that 3,165 business premises, including offices, factories, shops, pubs and restaurants, entered insolvency whilst they were awaiting the result of a business rates challenge. Business rates are [...]
Theo Paphitis: Dragons’ Den star says the high street is going nowhere and neither is he THEO PAPHITIS Theo Paphitis is not in any hurry to hang up his boots. After decades running the show at companies from lingerie to stationery firms, one might be mistaken for thinking the Dragons’ Den star, retail titan and former Millwall chairman may be mulling a change of pace. However, Paphitis tells City A.M. he has “a [...]
UK registers record of new businesses following “the great resignation” January 17, 2022 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 November 10, 2021 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 October 17, 2021 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