The director of a century-old Scottish machinery firm which went into administration last year has been banned after failing to declare more than £1.5 million in VAT. David Smith, was the director of FB Realisations Limited, which was known for decades as Balgownie Limited. However, for more than three years between 2019 and 2022, Smith…
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The National Association of Commercial Finance Brokers (NACFB) has announced the appointment of Josh Levy, CEO of Ultimate Finance, as a Non-Executive Patron Director. Levy’s three-year term commenced this July and marks the latest in a series of strategic board appointments designed to strengthen the Association’s leadership and long-term vision. As CEO of specialist lender…
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A new Business Trends report from BDO, the business advisory and accountancy firm, has found that business optimism in the manufacturing sector is at its highest level in nine months. BDO’s Optimism Index rose to 91.96 in July, up from 91.58 in June, following nine consecutive months of subdued business sentiment since the Autumn Budget.…
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Data from the British Retail Consortium (BRC) and KPMG shows that retail sales in the UK increased by 2.5% year on year in July, with this driven by warm weather and major sporting events. Total retail sales increased by 2.5% year on year in July, against a growth of 0.5% in July 2024. This was…
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Almost two-thirds (61%) of SME finance brokers report submitting over half of their loan applications to alternative lenders in the last four weeks, according to research by Iwoca. Iwoca says that the shift underlines a change in business attitudes, with demand for modern, tailored financial solutions now outpacing traditional banking options. Speed of decision-making is…
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Latest British Retail Consortium data has shown that total UK footfall decreased by 0.4% in July (YoY), up from -1.8% in June. High Street footfall decreased by 1.7% in July (YoY), up from -3.0% in June whilst Retail Park footfall increased by 1.7% in July (YoY), up from -1.1% in June. Shopping Centre footfall decreased by 0.3% in July (YoY), up from -1.6%…
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Listed companies in the FTSE Construction and Materials sector issued eight profit warnings during H1 2025, four times the number issued during the same period last year and the highest total since the Covid-19 pandemic in 2020, according to EY-Parthenon’s latest Profit Warnings report. Listed firms in the sector issued three profit warnings in Q2, down…
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The Bank of England has cut interest rates to 4%, with the cut from 4.25% marking the fifth reduction since August 2024. The Bank of England’s Monetary Policy Committee (MPC) voted 5:4 for a cut. One voted for a 0.5% cut and four voted for rates to be held. Responding to the news, Federation of…
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A pioneering new service has launched with the ambition to reshape the commercial debt recovery and enforcement landscape across England & Wales. Remote Court Users (RCU) introduces a streamlined, scalable model that places creditors, legal professionals, enforcement agencies, and the court system in closer alignment, delivering efficiency, transparency, and societal benefit. RCU positions itself as…
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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) in June 2025 grew by 1% compared with the same month in 2024. In the first half of 2025, new business was also 1% higher than in the same period in 2024. The…
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A Staffordshire businessman who sold seven historic cars, including two Jaguars and three Rolls-Royces for just £1 to another company he also controlled has been banned as a director. Kulbarg Singh, was the director of Aldridge Construction Engineering Ltd when he entered into an asset purchase agreement with Ace Earth Solutions Ltd in 2021. At…
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Total like-for-like retail sales (in-store and online) grew by just +2.8% in July, compared to a base of +3.0% in July 2024, according to the latest High Street Sales Tracker from accountancy and business advisory firm BDO. Sales in bricks-and-mortar stores grew by just 0.8% compared to July 2024, delivering a result significantly below inflation and therefore…
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Digital credit specialist ,LoanTube has announced that it has partnered with Push Group to embed its business loans infrastructure. This integration allows small and medium businesses to access a wide range of loan products from more than 50 lenders, including high-street banks, fintechs and specialist providers. Applicants receive personalised offers in real time, without needing…
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