A small business from Barnsley, Slime Party UK, has successfully secured government-backed financing, enabling it to significantly expand its operations, create new jobs, and develop new product lines. This success story provides a valuable blueprint for other small businesses seeking to grow, especially those looking to enter or expand in export markets.
Andrew Paul Bird, a 60-year-old former investment firm director from Quarndon, Derbyshire, has been subjected to the maximum 15-year bankruptcy restrictions after being found guilty of defrauding investors. Mr Bird misled 13 individuals and couples into investing in a fraudulent scheme between 2011 and 2016, promising secure returns while exposing them to significant financial risks for his personal gain.
The latest annual update to Student Loan interest rates was made last week by the Department for Education. Different rates and thresholds apply depending on the type of student loan and the new rates will apply from 1 September 2024 to 31 August 2025.
A recent case involving a former employee of Enterprise Rent-A-Car highlights the importance of robust data protection measures. Jonathan Riches, 46, was fined £10,000 and ordered to pay £1,700 in costs after pleading guilty to illegally accessing motorists’ personal details.
The recent riots have left many small businesses dealing with damage and disruption. The Federation of Small Businesses (FSB) Insurance Service has created some guidance to help businesses that have been affected. The guide includes practical steps that businesses can take when experiencing or expecting problems.
Rural business owners across Britain are on the cusp of a significant digital transformation, thanks to a landmark deal between the UK Government and Openreach that’s part of an initiative aimed at modernising outdated broadband infrastructure. With up to £800 million in investment, this ambitious project is aiming to deliver lightning-fast gigabit-capable broadband.
For businesses, having a strategic plan in place is vital for the long-term success and sustainability of the business. It serves as a roadmap for your business that gives you a clear direction, sets out the priorities, and helps you to make sure that you are using your resources effectively to reach your goals.
Chancellor Rachel Reeves visited the US and Canada last week, and during an interview with Bloomberg was asked whether she was considering increasing capital gains tax. She replied: “We’ve got a budget on October 30 and we will set out our policy then, but it’s always important when you’re deciding tax policy to strike the right balance…”
The UK government has announced £32 million in funding for 98 innovative AI projects, aimed at improving efficiency in various sectors. These include delivery of prescriptions, railway maintenance and training construction workforces. The funding will support over 200 businesses and research organisations across the UK.
The Bank of England’s decision to reduce the base rate to 5% means that HM Revenue & Customs (HMRC) will also reduce their interest rates. The interest rates charged by HM Revenue and Customs on late tax payments, as well as the rates they pay on repayments are linked to the Bank of England’s base rate.
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