Category: Business News

Samantha Fairweather, the director of Essex-based Fairweather Construction Ltd, has been disqualified from serving as a company director for eight years, after it was discovered that the firm took in excess of £300,000 in deposits for home improvement projects it failed to deliver.

Law practices hold sensitive information and can often be the target of cyber attacks. The National Cyber Security Centre (NCSC) has published some specific cyber security tips to help barristers, solicitors and legal professionals in firms of all sizes protect themselves. The tips they provide are good practice for businesses of all types.

During the Environment Agency’s Flood Action Week, which ran from 14 to 20 October, they issued a press release urging farmers in Devon and Cornwall not to take chances and gamble high-risk crops against a changing climate. The Environment Agency is concerned about the effect heavy and prolonged rainfall is having on the farmland in Devon and Cornwall, especially in areas with steep slopes.

With the Budget coming on 30th October, speculation is increasing on what changes will be announced. The Chancellor and the Prime Minister have made comments to indicate that the Budget will bring “difficult decisions”. The Chancellor reported shortly after taking office that there was a £22bn “black hole” in public spending inherited from the previous government. The BBC reported last week that their sources indicated that actually £40bn is needed to avoid real-terms cuts to departments.

The Office for National Statistics (ONS) have reported that their measure for inflation (Consumer Prices Index) fell to 1.7% for September. This is an unexpected reduction and is the lowest inflation has been in more than three years. Drops in airfares and petrol were the main reasons for the reduction. The Bank of England targets 2% inflation, so this reduction may allow them to cut interest rates further when they meet in November. There is also some expectation that there could now be a second rate cut in December.

At the International Investment Summit, the UK government announced nearly £63 billion in new investments, which are expected to create 38,000 jobs. These investments, which span various sectors, are projected to fuel growth across the country. While these investments tend to focus on large businesses and large-scale projects, there could be significant implications for small and medium-sized businesses (SMEs) as these investments roll out.

In her final speech at the International Investment Summit last week, Chancellor Rachel Reeves announced two major initiatives aimed at driving long-term investment in the UK. These moves are designed to create more high-skilled jobs and support growing industries across the country.

The Competition and Markets Authority (CMA) is stepping up its efforts to protect consumers opting for unregulated legal services, such as will writing and divorce arrangements, which are becoming increasingly popular alternatives to traditional high street solicitors. As the use of these services grows, the CMA is acting to ensure that businesses offering them comply with consumer protection laws, safeguarding people from unfair practices.

Researchers in the UK are being offered new funding opportunities to explore ways of making society more resilient to the risks posed by Artificial Intelligence (AI). These risks include emerging threats such as deepfakes, misinformation, and cyber-attacks, and the funding is intended to support work aimed at ensuring AI’s safe and responsible use.

As a small business owner, it’s easy to get caught up in the day-to-day operations and miss the bigger picture. You might rely on gut feelings or a quick glance at your bank account to determine how well your business is doing. However, without specific measures of success, it can be difficult to truly understand your business’s performance or identify areas for improvement. This is where Key Performance Indicators (KPIs) come into play.