China’s BYD is on track to overtake Tesla as the world’s largest electric vehicle seller after reporting sales of more than 2.25 million EVs last year.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Uber and Bolt warn London fares will rise as ‘taxi tax’ loophole closes
Uber and Bolt say London fares will rise after Rachel Reeves closes a VAT loophole used by ride-hailing apps, a move expected to raise £700m a year for the Treasury.
Ikea pivots to city centres as ‘big box’ era stalls in the UK
Ikea is prioritising smaller city-centre stores in the UK, moving away from out-of-town megastores as rising business rates reshape retail strategy.
Fashion brand LK Bennett on brink of collapse for second time putting upto 280 jobs at risk
The upmarket fashion retailer LK Bennett is on the brink of collapse for the second time in six years after filing an application to appoint administrators.
Mercedes-Benz Financial Services UK posts £365m loss after car loan scandal provision
Mercedes-Benz Financial Services UK has plunged to a £365m loss after setting aside £424m for the mis-sold car loans scandal, the largest provision disclosed by any carmaker.
One pub a day closed permanently across England and Wales in 2025
More than 360 pubs were demolished or converted in 2025 as rising costs and business rates pressures continue to hit the hospitality sector.
Billionaires added a record $2.2tn to global wealth in 2025
The world’s richest 500 individuals added a record $2.2tn to their wealth in 2025, with just eight billionaires accounting for a quarter of the gains.
Political ignorance of business is stunting UK growth, warns Iceland boss
Richard Walker, executive chairman of Iceland, says a lack of commercial literacy in government is holding back UK growth and calls for a focus on everyday business realities.
Britain stuck at bottom of G7 for investment as private spending stalls
The UK remains last in the G7 for investment, with economists warning that rising public spending will not be enough to offset stagnating private sector investment.
£10m in late payments recovered for small firms by Small Business Commissioner
The Office of the Small Business Commissioner has helped recover £10m in late payments for UK small firms since 2017, with more than £500,000 recovered in December 2025 alone.
UK electricity demand rises for second year running as EVs, heat pumps and AI drive surge
UK electricity demand has risen for a second consecutive year for the first time since 2003, driven by electric vehicles, heat pumps and AI data centres, according to new analysis.
UK business leaders and innovators honoured in 2026 New Year honours list
A detailed look at the UK business executives, entrepreneurs and industry innovators recognised in the 2026 New Year Honours List, from scale-up champions to banking chairs and diversity in business pioneers.
Octopus Energy to spin out Kraken in $8.65bn valuation deal
Octopus Energy Group is spinning out its technology arm Kraken at an $8.65bn valuation following a $1bn investment round led by D1 Capital Partners.
‘Made in Britain’ body challenges Reform UK over alleged unauthorised logo use
The Made in Britain organisation has raised concerns over Reform UK’s alleged use of a logo resembling its own, stressing political neutrality and lack of authorisation.
Festive filers sleigh their Self Assessment returns as thousands log on over Christmas
More than 4,600 people filed their Self Assessment tax return on Christmas Day, with over 37,000 submitting returns across the festive period, according to HMRC.
