Business

UK Export Finance (UKEF) has announced new measures to support small businesses across the UK in expanding their global trade operations, delivering on key commitments set out in the government’s new Trade Strategy. As the government’s export credit agency, UKEF is enhancing its suite of trade finance and insurance products to make international trade more accessible, efficient and secure – particularly for smaller businesses. Among the key announcements today: • The Small Exporter Builder: A...

A Manchester entrepreneur has been cleared of computer hacking after a private prosecution brought by the Information Commissioner’s Office (ICO). Craig Cornick, who runs several companies in the legal and financial services sectors, was found not guilty by a unanimous jury at Bolton Crown Court of conspiring to access computer systems without authority. The allegations related to historic incidents said to have taken place between 2014 and 2017 at a previous business, and centred on...

Four standout teams have been crowned winners of the Isle of Man Innovation Challenge 2025, following a global competition showcasing cutting-edge solutions in cleantech, data and AI, fintech, and sustainability. Now in its third year, the Innovation Challenge attracted over 100 entrants from more than 20 countries, with 14 finalists selected to take part in an intensive 12-week programme. During the process, participants received hands-on support from Isle of Man regulators, government agencies, investors and...

UK small and medium-sized enterprises (SMEs) are being urged to bolster their cyber defences amid a growing wave of politically motivated attacks, as global tensions and conflicts intensify the threat landscape. The warning comes after a recent Sky News investigation revealed an increase in cyberattacks linked to the Iran conflict, with businesses across multiple sectors increasingly being targeted. Speaking at the NATO Summit this week, Prime Minister Sir Keir Starmer called on UK companies of...

UK and Irish SME leaders are showing signs of cautious optimism despite mounting challenges in international trade, AI adoption and leadership burnout, according to the latest Vistage CEO Confidence Index. The Index, which tracks sentiment among small and mid-sized business leaders, rose modestly to 89.5 from 87.5 in the first quarter. While resilience remains a defining trait of the sector, the survey of business leaders paints a complex picture: over half (55%) expect higher sales...

Alibaba has launched a £750,000 innovation competition aimed at small and medium-sized businesses in the UK and across Europe, as part of its drive to support digital entrepreneurship and global trade. The Co-Create Pitch Awards, which were previously open only to international participants outside Europe, will now invite UK and EU-based SMEs to showcase their product ideas in a contest judged on innovation, market potential and feasibility. Entrants are encouraged to submit 30-second videos on...

Marks & Spencer’s new strawberry and cream sandwich has captured attention on social media — but now it’s caught the eye of tax experts, too. Marketed as a sweet take on the viral Japanese strawberry sando, M&S’s half-sandwich — part of its meal deal range — is prompting questions over whether it should be classified as a standard sandwich (zero-rated for VAT) or as a confectionery item (subject to 20 per cent VAT). Wrapped in...

Padel continues its meteoric rise, with more than 3,200 new clubs built globally in 2024 – the equivalent of one opening every two and a half hours – according to the newly released 2025 Global Padel Report by Playtomic and PwC. Over 7,000 new courts were added last year, cementing padel’s place as one of the fastest-growing sports worldwide. The report identifies Europe as the sport’s dominant force, but highlights growing momentum in North America,...

Prime Minister Keir Starmer has publicly thanked Britain’s businesses for absorbing the financial burden of his government’s £23 billion national insurance hike, while facing mounting pressure from industry leaders not to impose further tax rises in the autumn. Speaking at the British Chambers of Commerce (BCC) annual conference, Starmer acknowledged the scale of the demands placed on companies in his first year in office, calling them instrumental in fixing the “foundations of the country”. “I...

Former Chancellor Jeremy Hunt was wrong to scrap the tax perks of wealthy foreign residents in the UK, according to shadow business secretary Andrew Griffith, who said the move had undermined the country’s attractiveness to global wealth creators. Speaking at TheCityUK’s annual conference in London, Griffith admitted it had been a “mistake” for Hunt — under whom he served as a Treasury minister — to abolish the centuries-old non-dom regime during his final Budget. The...