New research from Begbies Traynor shows that more than 275,000 companies were showing signs of “significant” financial distress at the close of 2016, representing the thirteenth consecutive quarter that corporate stress has risen on a year-on-year basis. According to the recovery specialist’s Red Flag Alert data, 276,518 businesses were experiencing “Significant” financial distress at the…
The recent slump in sterling should prompt a significant readjustment of the UK economy away from consumer spending towards exports, according to the EY ITEM Club winter forecast. But while economic growth will be better balanced it is also likely to be slower. The respected economic forecaster says that the impact of sterling in increasing…
Prime Minister Theresa May is today launching proposals for a modern Industrial Strategy aimed at building on Britain’s strengths and securing a future as a competitive, global nation. At the heart of the Strategy green paper, published today, is an offer to businesses to strike new “Sector Deals” to address sector-specific challenges and opportunities –…
UK CEOs are lagging behind the rest of the world in addressing how artificial intelligence (AI) and automation will impact their business, according to PwC research. PwC’s 20th CEO Survey, published at the World Economic Forum in Davos, reveals that nearly half (47%) of UK CEOs say they are not currently addressing the impact of…
A review looking at the uses of “limited partnerships” in the UK has been launched following recent allegations that some businesses registered in Scotland are being used for criminal purposes. Evidence is being gathered across the UK but with a particular focus on Scotland. Unlike those set up in England, Wales and Northern Ireland, Scottish…
UK business were, on average, subject to almost 230,000 cyber attacks each during 2016. According to research by internet provider, Beaming, the volume of attacks hitting individual firewalls exceeded 1,000 per day, on average, in November of last year. While a third of attacks attempted to access company databases in the first quarter of 2016,…
Business start-up numbers have fallen significantly in the last five years, according to Lloyds Bank analysis – 19% fewer new businesses were launched in the UK in November 2016 compared to November 2011. Regionally, the data from BankSearch shows that Wales has seen the largest decline in start-ups, falling by over a quarter (26%). England…
UK manufacturers expect 2017 to be another year of risks but at the same time are gearing up for the challenges ahead. According to the annual Executive Survey from EEF, the manufacturers’ organisation, almost half of companies surveyed see more risks than opportunities in the year ahead. However, in 2017 56% of firms expect to…
UK construction companies made a positive end to the year with the fastest rise in new order volumes since January 2016. Stronger demand patterns resulted in sustained job creation and a broad-based upturn in business activity during December, with the Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) rising to 54.2 in December, up from 52.8…
The UK manufacturing sector ended 2016 on a positive note with rates of growth for production and new orders in December among the best seen over the past two-and-a-half years. The Markit/CIPS Purchasing Managers’ Index (PMI) rose to a 30-month high of 56.1, up from 53.6 in November and well above its long-run average (51.5). …