The latest news affecting small and medium sized (SME) businesses in the UK
McKinsey & Company has cut more than 10 per cent of its global workforce in the past 18 months, trimming headcount from over 45,000 at the end of 2023 to around 40,000 today, as the consulting giant adapts to a downturn in demand and the fallout from costly legal settlements.
Tesla’s grip on the European electric vehicle market weakened dramatically last month, with new figures showing a 49 per cent drop in sales across 32 European countries compared with April 2024 — a sharp contrast to the overall EV sector, which posted a 28 per cent year-on-year rise.
Toyota is preparing to invest £40 million in its Burnaston plant in Derbyshire as part of a plan to manufacture the high-performance GR version of its Corolla hatchback — a move that could breathe new life into the factory and capitalise on favourable trade conditions between the UK and US.
The UK housing market is enjoying its strongest spell of activity since the pandemic-era “race for space,” with estate agents reporting a surge in buyer interest and sales agreed reaching a four-year high, according to new data from property portal Zoopla.
Sara Murray, the founder of electronic monitoring firm Big Technologies, has agreed to a court order not to move or sell assets worth up to £320 million, as she faces a major High Court lawsuit over alleged undisclosed links to offshore companies.
University of Cambridge leaders have issued a stark warning that the UK risks falling behind in the race to commercialise world-class research unless it does more to support academic spin-out companies struggling to scale.
Oxford Brain Diagnostics (OBD) is preparing to launch its groundbreaking technology for the early diagnosis of dementia across the UK and US healthcare markets, following a wave of key regulatory approvals that mark a major milestone in the company’s growth.
The UK government has announced a major step forward in its international artificial intelligence strategy, unveiling plans for a new UK-EU collaboration that could deliver breakthroughs in healthcare, energy and advanced technologies, while boosting British jobs and economic growth.
The Bank of England is facing a renewed challenge in its efforts to manage inflation and steer the economy, after fresh data showed starting salaries in the UK rose at their fastest pace in nearly three years.
British taxpayers have injected more than £400 million into Sheffield Forgemasters, the historic steelmaker and defence contractor, just three and a half years after the company was brought into public ownership — burning through a decade’s worth of planned investment in record time.
Zuber Issa, the billionaire entrepreneur who co-led the £6.8 billion acquisition of Asda in 2021, is investing millions in a new venture — the revival of Duckhams, a storied British motor oil brand once favoured by Formula 1 legends including Nigel Mansell and Ayrton Senna.
Job creation from new businesses in the UK has fallen to an eight-year low, with start-ups hiring fewer staff and closures contributing to a rising economic toll, according to new analysis by Cynergy Bank.
Developers have spent nearly £3.5 billion buying unloved office blocks across the UK over the past three years — but not to keep them as workplaces.
British food and flower producers say they have wasted millions of pounds preparing for post-Brexit import checks that may now never be implemented, following the UK government’s sudden decision to delay the planned rollout of sanitary and phytosanitary (SPS) controls on EU agri-food imports.
Weeks of fire-related restrictions come to an end after heavy rainfall eases drought conditions, allowing iconic steam services – including the Jacobite ‘Hogwarts Express’ – to resume operations.
