Category: Business

Comments Off on Brexit charges could lead to higher food prices

Brexit charges could lead to higher food prices

Brexit charges could lead to higher food prices

Fees of up to £145 will be charged from 30 April. Small imports such as sausages and cheese are included in the charge. Trade groups have warned of potential increases in food prices following the Government’s announcement of new post-Brexit import charges on EU food and plant products. These charges, known as the common user … Continued

Comments Off on Manufacturing and R&D to receive £360m boost

Manufacturing and R&D to receive £360m boost

Manufacturing and R&D to receive £360m boost

Funding aims to drive economic growth, enhance health resilience, and generate employment. Jeremy Hunt has announced a £360m investment in UK manufacturing to drive economic growth, enhance health resilience and generate employment. Furthermore, there will soon be opportunities for companies to engage in a £520m life sciences manufacturing fund designed to prepare for health emergencies … Continued

Comments Off on ‘Help to Grow’ campaign and small business council to aid SMEs

‘Help to Grow’ campaign and small business council to aid SMEs

‘Help to Grow’ campaign and small business council to aid SMEs

The Government has committed to supporting 5.5 million small businesses by updating its Help to Grow campaign and introducing a new Small Business Council next month. Building upon existing initiatives, the council will create a platform for SME leaders nationwide to actively engage with the Government. With small businesses constituting 99.9% of all UK enterprises, … Continued

Comments Off on UKEF introduces enhanced financing for small businesses

UKEF introduces enhanced financing for small businesses

UKEF introduces enhanced financing for small businesses

In a move to boost international trade and foster greater exporting opportunities for small businesses, UK Export Finance (UKEF) has introduced more flexible and expedited financing. The Government’s export credit agency made this announcement during its annual conference, revealing it now has the capability to fast-track trade finance applications worth up to £10 million – … Continued

Comments Off on Economic confidence index declines

Economic confidence index declines

Economic confidence index declines

Business leader confidence in the UK economy fell to -28 in December 2023 after hitting -21 in November, according to the latest economic confidence index from the Institute of Directors (IoD). The decline is in contrast to business leaders’ confidence in their own enterprises, which surged to +36 in December – a notable uptick from … Continued

Comments Off on Overseas firms pledge to invest billions in the UK

Overseas firms pledge to invest billions in the UK

Overseas firms pledge to invest billions in the UK

In November, Prime Minister Rishi Sunak hosted a summit at Hampton Court to spotlight foreign firms’ plans to invest £29.5 billion in the UK, signalling confidence in the economy.  Despite recent setbacks like the cancellation of HS2, the attendance of global leaders at the summit and Nissan’s recent £2bn electric car investment in Sunderland highlight … Continued

Comments Off on Corporate insolvencies hit a two-decade high

Corporate insolvencies hit a two-decade high

Corporate insolvencies hit a two-decade high

Corporate insolvencies in England and Wales are at their highest level since 2009, according to new data from the Insolvency Service. In Q3 2023, 6,208 companies registered as insolvent in England and Wales, down 2% from the previous quarter but up by 10% compared to Q3 2022. This rise in insolvencies can be partially attributed … Continued

Comments Off on Small business confidence improves in Q3 2023

Small business confidence improves in Q3 2023

Small business confidence improves in Q3 2023

Small business confidence in the UK improved slightly in Q3 2023, although challenges persist, according to the latest Small Business Index from the Federation of Small Businesses (FSB). The headline confidence reading in Q3 stood at -8.0 points, an improvement from the -14.2 points recorded in the previous quarter but still below the -2.8 points … Continued

Comments Off on Industry backlash at HS2 U-turn

Industry backlash at HS2 U-turn

Industry backlash at HS2 U-turn

Leading business organisations have criticised the Government’s decision to scrap the northern leg of HS2, despite its promises to divert £36 billion into new transport in the Midlands and north of England. High-Speed Rail Group, which represents rail and engineering firms, described the move as the “biggest and most damaging U-turn in the history of … Continued

Comments Off on Insolvency up by 16.5% compared to last year

Insolvency up by 16.5% compared to last year

Insolvency up by 16.5% compared to last year

The number of company insolvencies in September 2023 was 16.5% higher than the same month last year, according to official data published in October by the Insolvency Service. Corporate insolvencies decreased to a total of 1,967 compared to August’s total of 2,319, but compared to September 2022’s figure of 1,688, they increased by 16.5%. Nicky … Continued