Category: Business

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

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

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

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

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

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

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

The UK is no longer a global economic outlier after a huge revision to its post-pandemic economic performance by the Office for National Statistics (ONS). GDP, the size of the country’s economy, climbed back above pre-pandemic levels by the end of 2021, the ONS said last week — much higher than previously thought. The ONS … Continued

Employers are turning to generous counter-offers in a bid to retain staff as skills shortages persist, new research suggests. According to the Chartered Institute of Personnel and Development (CIPD), 51% of employers who make counter-offers to keep employees have offered a higher number over the last 12 months. A quarter of employers who have made … Continued

Growth remained sluggish between April and June 2023, with GDP growing by 0.2% in the second quarter of 2023 following a 0.1% rise in the first. Monthly estimates also show that GDP grew by an estimated 0.5% in June 2023 after falling by 0.1% in May and rising by 0.2% in April. Growth of 1% … Continued