One in five small businesses (20%) say the legacy of Brexit remains a barrier to business growth, according to research by Novuna Business Finance. Drawing on 12-years of tracking research, exploring small business growth outlook since 2015, the report ‘Brexit at 10′ draws together research on small business owner sentiment to Brexit, and their reactions…
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Instability arising from US trade tariffs has fractured the ‘special relationship’ between the UK and US trading partners, according to new research from international SME funder, Bibby Financial Services (BFS). BFS’s report finds that UK SMEs have suffered average losses of £59,000 in the past 12-months due to US tariffs, leading many to reprioritise trade…
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Prime Minister Keir Starmer has announced his resignation, with a new leader to be in place in September. Nominations for a contest for a new leader of his party will open in July with him remaining in post until the process is complete. While Andy Burnham is widely seen as the frontrunner for the leadership,…
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Garfield AI (Garfield), the world’s first AI-powered law firm authorised and regulated by the Solicitors Regulation Authority, has helped a freelancer win a small debt claim at trial. This marks the first court trial won with the support of a regulated AI lawyer anywhere in the world. The win is a landmark moment for legal…
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A banned company director who spent £300,000 of Covid support on family holidays, private school fees, and other personal spending has been jailed. Steven Brookes used funds from six fraudulently obtained Bounce Back Loans to pay for a trip to Disneyland, a holiday rental in Tenerife, and an Audi with personalised number plates for his wife. The 40-year-old also paid £7,000…
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The Bank of England has held interest rates at 3.75% after a deal between the US and Iran pushed oil prices down and reduced inflationary risks to the UK economy. The Monetary Policy Committee voted seven to two to leave rates unchanged, with chief economist Huw Pill and external member Megan Greene dissenting. They called…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew by 14% in April 2026 compared with the same month in 2025. In the first four months of 2026, new business was 6% higher than in the same period in 2025. The…
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Latest figures from the Office for National Statistics (ONS) have shown that inflation remained steady in May, with consumer prices rising 2.8% year-on-year, unchanged from April and below economists’ forecasts of 3%. The ONS says lower food inflation, including meat and dairy products, helped offset upward pressure from air fares, vehicle taxes and petrol. Services…
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The ICAEW has warned that proposed UK reporting requirements for close companies could unfairly burden small businesses. The association says that under the new proposals, close companies will need to report details of transactions with participators to HMRC, placing a disproportionate administrative burden on compliant businesses, while doing little, if anything, to reduce the small…
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A decade since the UK voted to leave the EU, a regular survey of mid-sized businesses paints a mixed picture of Brexit’s impact on their operations, according to accountancy and advisory firm BDO. BDO’s bi-monthly tracker of 500 mid-sized businesses with revenues between £10m and £500m, revealed that just over a quarter (26%) felt the…
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Two men who carried out a £3 million insolvency fraud and money laundering scheme have been sentenced. Disqualified director Tariq Sarwar knew his company was in financial difficulty and likely to be wound up when he sold commercial property in Salford – his company’s only substantial asset – for more than £5 million. Sarwar fraudulently…
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Data from the Office for National Statistics (ONS) shows that the UK economy contracted by 0.1% in April, marking its first monthly fall since August last year. While the economy contracted on a month-by-month basis, it grew by 0.7% in the three months to April, compared with the previous quarter. The monthly decline was driven…
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A new report released has revealed that significant strides are being made to improve the accuracy of the Companies House register and disrupt economic crime. The report is the latest part of the implementation of the Economic Crime and Corporate Transparency Act 2023 (ECCT Act), which brings about the most significant reforms to UK company…
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