Britain has overtaken India to claim the world’s third-highest number of unicorns, with a record 80 billion-dollar start-ups worth £242.4bn, led by fintech and AI.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Business confidence weakens as Middle East conflict drags on
UK business confidence slipped again in June as the Middle East war entered its fifth month, with factories hardest hit by energy costs, Lloyds finds.
Brompton sells stake to Decathlon and Chinese backer in £18m deal
Brompton has sold a 15% stake to Decathlon and China’s BA Capital in an £18m deal to fund expansion in France and China, its largest market.
Barclays buys its Canary Wharf home in £750m vote of confidence for London
Barclays has bought a 999-year leasehold on its One Churchill Place global HQ for £750m, in a deal hailed as a “strong endorsement” of Canary Wharf and London.
UKEF bets £50bn on British defence in biggest expansion of its 100-year history
UK Export Finance has unveiled a £50bn Defence Export Fund, lifting its total capacity to £130bn to help British defence firms of all sizes win major global contracts.
Bosses ‘can’t afford to pay themselves the minimum wage under Labour’
Rising employment costs are forcing thousands of owner-managers to absorb the bill themselves, squeezing profits, pensions and hiring alike
Brexit has left Britain more prone to runaway inflation, says Bank of England chief economist
Bank of England chief economist Huw Pill says Brexit has left Britain exposed to ‘self-sustaining’ price rises, making inflation harder to tame and squeezing SMEs.
Tariffs halve Scottish salmon exports to America and knock a quarter off whisky sales
US tariffs have nearly halved Scottish salmon exports to America and cut whisky shipments by a quarter, with total UK food and drink sales to the US down 28% in Q1 2026.
Lotus throws open Hethel to rivals as minister launches performance hub
Industry minister Chris McDonald has officially launched Lotus’s Hethel Performance Hub in Norfolk, opening the sports car maker’s site to rivals and partners.
Trump threatens 100% tariff on countries that tax US tech giants
Donald Trump has threatened a 100% tariff on any country imposing a digital services tax on US tech giants. Here is what the move means for Britain’s 2% DST and UK exporters.
Unison backs Miliband for chancellor as union battle over the Treasury intensifies
Britain’s largest trade union has thrown its weight behind Ed Miliband to become the next chancellor, a move that sharpens an increasingly bitter contest for control of the Treasury under a prospective Andy Burnham government.
Polestar forced out of America as Washington’s China tech ban claims its first carmaker
Polestar is quitting the US after Washington refused it a waiver from its ban on Chinese vehicle software, the first carmaker felled by the connected-car rule.
Crown Estate’s payout to the Treasury halves as the offshore wind windfall fades
The Crown Estate’s return to the Treasury has more than halved to £487m as offshore wind option fees fade, even as its net asset value climbs to £16.7bn.
Reeves signals fiscal devolution is her ‘unfinished business’ as Burnham eyes No 10
Chancellor Rachel Reeves says fiscal devolution is her ‘unfinished business’, promising Budget detail on visitor levies and devolved tax powers for England’s mayors.
UK car production rises for the first time this year, but recovery hangs by a thread
UK car production rose 2.3% in May, the first monthly increase of 2026, but year-to-date output remains down as energy costs and trade barriers bite. SMMT urges action.
