Latest data from Office for National Statistics (ONS) showed that the economy fell 0.1% in January. GDP had been expected to rise 0.1% month-on-month. Services output grew 0.1% month-on-month whilst construction output fell 0.2% month-on-month. Production fell 0.9% month-on-month. Commenting on today’s GDP figures for January, ONS Director of Economic Statistics Liz McKeown said “The…
Read more
Profits at USMEs increased by 7.3% year-on-year in Q4 2024, according to Sage’s small business tracker. This is down from 8.2% in Q3 and 8.6% in Q2. It was also found that productivity fell by 0.9% year-on-year in Q4. While debt levels have fallen by 9.7% over the last year, cash reserves increased by 3.2%…
Read more
Gross lending to SMEs rose by 13 per cent year-on-year to just over £16 billion in 2024 according to latest UK Finance data. The research showed that in each quarter of last year gross lending was up compared to the same quarter in the previous year. However, lending remains significantly below levels reported in the…
Read more
Seven in ten small businesses (71%) are working on new initiatives to achieve business growth in the spring months, a rise on the previous 12-months according to new research from Novuna Business Finance. Following 2025 starting with a dip in the percentage of UK small businesses predicting growth, the latest findings suggest a solid resilience…
Read more
The Department for Business and Trade is launching a review into SME lending, due to the increase in the price of debt in recent years. Commenting on the Government’s publication of a call for evidence on SME access to finance, Emma Lovell, Lending Standards Board (LSB) Chief Executive, said “SMEs are the backbone of the…
Read more
Metro Bank has announced that it has appointed Paul Gaynor and Louise Molloy as Commercial Lending Directors within the North-West region. Gaynor has 36 years of banking experience and has spent the last two decades working in Corporate and Commercial lending, most recently at NatWest. Gaynor’s new role at Metro Bank will see him based…
Read more
A business trends report from BDO has revealed that business output fell for the second consecutive month, indicating a persistent slowdown in the pace of growth in overall activity across the UK economy. Despite the decline recorded in overall output, the Services Output Index rose from 98.05 to 98.29 in February. This reading suggests the…
Read more
Research by the National Association of Commercial Finance Brokers (NACFB) has found that brokers facilitate nearly three-quarters (£26.5 billion) of the UK’s £38 billion SME lending market. Lenders are attributing 67% of their SME portfolios to intermediaries on average. The data also reveals brokers’ role in diversifying SME funding access, with 33% of deals facilitated…
Read more
A Business Confidence Survey by the Adam Smith Institute (ASI) has revealed that over 77% of business leaders in the UK have “low” or “very low” confidence in the current economic climate. The data showed that only 3.8% of respondents had ‘high or very high confidence.’ The average ‘Business Confidence Score’ across the survey was…
Read more
A husband and wife whose furniture company went into liquidation owing customers almost £100,000 have both been banned as company directors. George and Williamina Hay were directors of DWH Trading Ltd, which sold adjustable beds and chairs, mostly to elderly and vulnerable customers, from their home address in Aberdeenshire. The company was struggling financially by…
Read more
Uswitch research has found that 60% of consumers say they have been dissuaded from shopping at small businesses due to the perceived extra expense. The ‘cost of living crisis has meant the prices for many essential goods in the United Kingdom have been increasing faster than household incomes. It has been wreaking havoc with many…
Read more
The Payment Systems Regulator (PSR) has found significant issues within the UK market for card scheme and processing services, identifying a substantial increase in fees and a lack of clear information. In its final report of its card scheme and processing fees market review, the PSR found that Mastercard and Visa have increased their core…
Read more
New research from Microsoft has found that businesses and public sector organisations with clear AI strategies are significantly outperforming those without. The study, led by Dr Chris Brauer at Goldsmiths, University of London, reveals that the highest performing businesses and most productive public sector organisations have a clear AI strategy in place and are preparing…
Read more