High interest rates are continuing to hit demand in the property market as potential buyers pull back from purchases because of increased mortgage costs.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
UK Carmakers put foot down with over 526,000 new cars produced so far in 2023
Car production increased by almost a third last month compared with a year ago taking factory output in the first seven months of the year to 526,000, up 14 per cent year-on-year.
HMRC tax enquiries jumped by over 20 per cent last year in the space of just two years with 2999,000 enquiries last year
The UK’s 4.3m self-employed workers have been advised to prioritise their tax compliance after official HMRC data shows that the tax authority opened 299,000 tax enquiries last year – a 52,000 jump equivalent to 21% compared to two years before.
National Cyber Security Centre issues warning over chatbot cyber risks
British officials are warning organisations about integrating artificial intelligence-driven chatbots into their businesses, saying that research has increasingly shown that they can be tricked into performing harmful tasks.
Number of house sales this year forecast to be lowest since 2012
The number of homes being bought and sold this year is expected to drop by a fifth to the lowest in over a decade, the latest evidence that dearer mortgages and a cost of living crunch have paralysed Britain’s housing market.
Wilko store closures put on hold as administrators assess new bids
Wilko’s administrators have halted immediate redundancies for the chain’s 12,000-strong workforce amid claims from the staff union that bidders for the business have faced “difficulties” in negotiations.
James Cleverly to make landmark China visit in bid to ‘protect UK national security’
Foreign secretary James Cleverly will make a landmark visit to China on Wednesday in a bid to reaffirm the UK’s protection of national security.
Axe £4bn-a-year share tax holding back stock markets, government told
Calls are increasing for the UK’s £4 billion-a-year share trading tax to be reduced or scrapped in an effort to reinvigorate our capital markets.
UK food prices as big a concern for consumers as energy bills, Which? finds
The rate at which food prices are rising has continued to slow but stubbornly high grocery prices mean the cost of the weekly shop is now as big a concern as energy bills, according to research.
Britain’s services sector company profits fall for seventh consecutive quarter
Profits for Britain’s services sector companies have fallen for a seventh consecutive quarter, new figures suggest, as businesses continue to struggle under the weight of higher interest rates and stubborn inflation.
Investors demand clarity from government on net zero
Investors managing £1.5 trillion in assets have warned the government that a lack of clarity on green policies risks stalling investments needed to reach the 2050 net zero target.
UK Export Finance drives export success for Derbyshire-based recycling firm WARD
A government financing guarantee helps award-winning metal recycling and waste management specialist Ward supercharge its export growth and achieve its highest annual turnover yet.
London becomes home to over 16,000 new businesses – the highest recorded compared to the rest of the UK
The business experts at Forbes Advisor have conducted an analysis of the most recent UK business demography statistics report from the Office for National Statistics.
UK faces ‘heightened recession risks’ as interest rates bite
The UK economy is on course to shrink between July and September and could tip into recession, a closely-watched survey suggests.
Post Office boss set to return bonus after Horizon scandal
The boss of the Post Office will return all of his bonus payment for his work on the Horizon inquiry into hundreds of wrongfully convicted postmasters.
