Cambridge-based Flit secures £1.2m to boost production of its innovative folding electric bikes, challenging Brompton by pioneering a lighter, non-welded frame design.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Dyslexic founder secures Branson’s backing with ‘Elevator of Dreams’ pitch
Dyslexic entrepreneur Hugh Johnston clinches Sir Richard Branson’s support after pitching his Tyypo app in Virgin’s ‘Elevator of Dreams’, igniting a surge in sign-ups and spotlighting the future of dyslexia-focused tech.
First-time homeownership slips further out of reach without family assistance
Only 11.5% of first-time buyers can afford to purchase without family help, warns Skipton Group, as looming stamp duty changes and rising house prices fuel a deepening affordability crisis.
Insolvencies soar to 16-year high as tax hike drives bosses to close up shop
UK company insolvencies reach their highest January total since 2009, as directors shutter businesses ahead of Rachel Reeves’s tax hikes and wage increases.
Investors pull back from UK as economic gloom deepens
Britain is now the least favoured market among global fund managers, says Bank of America, as slow growth and stubborn inflation deter investment.
Restaurants brace for Reeves’s £25bn tax raid as hospitality job cuts loom
Hospitality and retail brace for a £25bn National Insurance hike and rising wages this April, prompting layoffs, price hikes, and fears of closures as businesses scramble to manage soaring costs.
UK pay growth accelerates as real wages climb, fuelling BOE concerns
UK pay growth rose 6% at the end of 2024, outpacing inflation and lifting real wages by 3.4%. Find out what this means for workers, the jobs market, and the Bank of England’s next move.
Stamp duty deadline sparks property sales surge
Property sales climbed 15% in January as UK buyers scrambled to beat the new stamp duty hike.
Barclays and Natwest remove climate targets from annual executive pay
Barclays and NatWest are removing climate targets from their annual executive bonuses, shifting sustainability goals into long-term incentives amid a broader move away from ESG-linked pay.
Gordon Ramsay combines UK and US restaurant businesses in Lion Capital deal
Gordon Ramsay merges his UK and US restaurant operations into a London-headquartered group with Lion Capital, bolstering global expansion for his Michelin-starred and casual dining portfolio.
Lloyds under fire to publish full £1bn HBOS fraud review
Lloyds must release the unedited Dobbs review on its alleged £1bn HBOS fraud cover-up, says Dame Meg Hillier, citing transparency concerns amid delays.
UK firms plan biggest layoffs in a decade as business confidence collapses
UK businesses are preparing for mass layoffs as confidence hits a decade low, with rising taxes and wage costs driving fears of higher unemployment and stalled economic growth.
Blue Origin to cut 10% of workforce as it ramps up rocket launches
Jeff Bezos’ space firm Blue Origin is laying off 1,400 employees as part of a strategic shift to scale up rocket manufacturing and launch cadence. The move follows the successful first flight of the New Glenn rocket.
UK economy posts surprise growth at end of 2024, but concerns remain
The UK economy unexpectedly grew by 0.1% in the final quarter of 2024, boosted by construction and services. However, rising taxes and cautious business sentiment raise fears of sluggish growth ahead.
UK pushes for exemption from Trump’s steel tariffs
The UK government is seeking an exemption from Donald Trump’s proposed 25% tariffs on steel exports, arguing Britain’s small export share and defence links justify special treatment. Industry fears price rises and market disruption.
