Business news 11 March 2025
Peer support boosts SMEs, work related illness, retail, spending cuts, market upheaval, insolvencies & more business news that we thought would interest our members.
James Salmon, Operations Director.
Please note: on the 19/3/25 CPA are moving offices after 43 years a little down the road to Profile West, 950 Great West Road, Brentford, TW8 9ES
Peer support boosts SMEs
An American Express poll shows that 94% of SME leaders believe that supporting their peers is critical to driving business success, while 54% have secured new business opportunities through their professional networks. The survey of 500 SME owners and senior decision-makers shows that product or service recommendations were the most valued forms of peer support, followed by business or financial advice. While a separate report from Deloitte found that that peer learning can improve the quality of decision-making by 20% and cut business risk by 30%, research from Be The Business found that a third of firms receiving peer advice reported revenue increases.
Work-related illness costs the economy £400m a week
Analysis for the Trades Union Congress (TUC) suggests that work-related illness is costing the UK economy more than £400m a week, with it shown that work-related ill-health cost the economy £22bn in 2023. The report, which looked at data from the Health and Safety Executive (HSE), also shows that the number of cumulative sick days lost due to ill-health has risen by a third since 2010, hitting 34m. TUC general secretary Paul Nowak believes that the Government’s Employment Rights Bill could be key to addressing this, saying: “Cracking down on exploitative practices like zero-hours contracts and giving people more security will boost workers’ health, well-being and productivity. It will also help more people stay in work.”
Analysts expect Reeves to cut spending
Rachel Reeves is expected to cut spending in her upcoming Spring Statement, with economists at BNP Paribas forecasting that Office for Budget Responsibility data will show that the Government’s fiscal headroom has been depleted. Meanwhile, Quilter’s latest Trend Survey saw almost half of the fund groups polled say spending cuts were the best option as the Chancellor looks to balance the books. Around a third (35%) of respondents, meanwhile, expect Ms Reeves to opt for a mixture of tax hikes and spending cuts. Just 6% predict that taxes will rise but cuts will be avoided.
High street faces closures and job losses
The High Street is experiencing significant challenges, with closures and job losses on the rise as sales decline and businesses struggle with escalating costs following the Autumn Budget. The British Retail Consortium has indicated that retailers will have “little choice” but to reduce investment due to increased National Insurance contributions, business rates, and wage expenses. Analysis suggests that retailers face £7bn in new costs.
Retail sales rise ‘modestly’ amid consumer caution
Retail sales rose 1.1% in February, according to analysis from KPMG and the British Retail Consortium, with this falling short of the 2.4% average recorded across the previous three months.
Markets
Yesterday, the FTSE 100 closed down 0.92% at 8600.22 and the Euro Stoxx 50 closed down 1.49% at 5386.98 as global equities responded negatively to President Trump’s weekend TV appearance where he acknowledged, when asked if they were heading for recession, that the US could be heading for a ‘period of transition’. The comments were interpreted as hedging given the question was specifically about whether the US faces a recession. Overnight in the US the S&P 500 fell 2.7% to 5614.56 and the NASDAQ fell 4% to 17468.32 lead by Tesla.Cryptocurrencies collapsed as well.
Meanwhile Beijing has announced retaliatory tariffs on US farming products after Trump doubled the blanket rate on Chinese imports to 20% with effect from today. Ontario’s Premier Doug Ford has announced that Canada will put a 25% tax on electricity from a number of Canadian states to the US states of New York, Michigan and Minnesota starting today.
This morning on currencies, the pound is currently worth $1.293 and €1.185. On Commodities, Oil (Brent) is at $69.7 & Gold is at $2910. On the stock markets, the FTSE 100 is currently down 0.1% at 8593 and the Eurostoxx 50 is up 0.55% at 5417.
Collision off the Humber
Fires are still burning on the Stena Immaculate tanker and a cargo ship carrying toxic chemicals after they collided off the UK’s east coast near the Humber. The oil tanker was holding about 140,000 barrels of jet fuel for the US Navy at the time. It is still too early to assess the cause or the environmental damage.
Tories seek salary threshold hike on visas
The Conservatives are calling for salary thresholds for all work visas to be raised to £38,700. While the minimum that applicants for work visas have to earn increased from £26,200 to £38,700 in April 2024, the threshold does not apply to some jobs, such as those in health and social care. Warning that too many people arriving on work visas end up in minimum wage jobs, shadow Home Secretary Chris Philp told BBC Radio 4’s Today programme that this is “bad for the taxpayer.” He cited Office for Budget Responsibility analysis which “shows that people coming here on lower wages actually cost the general taxpayer money because they consume more in services than they pay in tax.”
Modest earners paying taxes designed for the wealthy
Analysis by the Taxpayers’ Alliance shows that modest earners are paying high tax rates originally designed for the wealthy. While the 40% higher-rate threshold – which kicks in at £50,270 – was 83% higher than average earnings in 2010, a worker now only has to earn 37.6% more than the average wage to be taxed at the higher rate. This is expected to fall further – to 28.3% – by 2027/28. The additional rate threshold was 6.2 times average earnings in 2010, but this has now fallen to 3.4. The threshold for this band was cut from £150,000 to £125,140 in 2023. Darwin Friend, head of research at the TaxPayers’ Alliance, said: “Our tax system has gone from being progressive to punishing, with even relatively modest earners now paying eye-watering tax rates.” The Chancellor has refused to rule out further freezes in the Spring Statement and analysis shows that extending the freeze by a single year would add £4,100 to the tax bill of a worker earning £75,500. Doing so would also raise £15bn for the Treasury.
Trump’s tax cuts threaten London listings
Donald Trump’s proposed reduction of the corporation tax rate for US-based companies has raised concerns over an exodus from the London Stock Exchange. Duncan Edwards, chief executive of BritishAmerican Business, warned that the move could lead to a significant shift of UK-listed companies to the US, saying: “There is a real risk that you get some UK champions relocating their listings.” Mr Trump has vowed to cut America’s corporation tax rate from 21% to 15% for companies that make their products in the US, which would be far lower than the 25% rate in Britain.
Regulators face performance targets in innovation drive
Regulators are to be set new performance targets as ministers look to drive innovation and encourage investment in the UK. Science Minister Lord Patrick Vallance said the reforms will seek to “troubleshoot” regulators considered to be underperforming. Lord Vallance said ministers are “working on metrics with the regulators,” with the new Regulatory Innovation Office looking at performance targets. The Government has been exploring ways in which regulatory bodies can help drive growth, with Chancellor Rachel Reeves having suggested that officials could establish a leader board of regulators.
Latest Insolvencies
Appointment of Administrator – JH COMMERCIAL CATERING SERVICES LTD
Appointment of Administrator – HEMMELS LIMITED
Appointment of Liquidators – OXFORD PARTNERING GROUP LIMITED
Appointment of Liquidators – RISKBASEDQUALITY LIMITED
Appointment of Liquidators – DR. NEIL MCGILL LIMITED
Appointment of Liquidators – SOFT BOY LTD
Appointment of Liquidators – RI TSC MILTON KEYNES LIMITED
Appointment of Liquidators – LOUISE DAVIDSON ASSOCIATES LIMITED
Appointment of Liquidators – SAVOIR GLOBAL LTD
Appointment of Liquidators – HORTENSINGTON LIMITED
Appointment of Liquidators – ARBON PROPERTY CONSULTANCY LIMITED
Appointment of Liquidators – JRLF COMMUNICATIONS LIMITED
Appointment of Liquidators – JO PHARMA SOLUTIONS LIMITED
Appointment of Liquidators – ELMER SOLUTIONS LIMITED
Appointment of Liquidators – NET ZERO FUNDING LTD
Appointment of Liquidators – ROMA 4 LIMITED
Appointment of Liquidators – TOUCHCONSULTING LIMITED
Appointment of Liquidators – COMMUNICATION SERVICES LIMITED
Appointment of Liquidators – NOWBETNOW LIMITED
Appointment of Liquidators – GRM&C LIMITED
Appointment of Liquidators – LAND INNOVATIONS LIMITED
Appointment of Liquidators – INTERIM SUPPORT LIMITED
Appointment of Liquidators – PSM PLUMBING & HEATING LIMITED
Appointment of Liquidators – NORTHCOTE CONSULTING COMPANY LIMITED
Appointment of Liquidators – MT PHARMA LIMITED
Appointment of Liquidators – TONY MEWSE CREATIVE EYE LIMITED
Appointment of Liquidators – DAILY MIRROR NEWSPAPERS LIMITED(THE)
Appointment of Liquidators – I.F.B.S.O. LTD
Appointment of Liquidators – IDEALTITLE LIMITED
Appointment of Liquidators – FOCUSCROSS LIMITED
Appointment of Liquidators – JS RISK AND COMPLIANCE LIMITED
Appointment of Liquidators – HATTONS PROPERTY MANAGEMENT LIMITED
Appointment of Liquidators – HAMILTON CONSULTANTS LIMITED
Appointment of Liquidators – PICOMED UK LIMITED
Appointment of Liquidators – SG CLAIMS CONSULTING LTD
Appointment of Liquidators – OXFORD FINANCE SOLUTIONS LTD
Appointment of Liquidators – PILGRIM HOUSE DEVELOPMENTS LTD
Appointment of Liquidators – G. E. BOUCHER CONSULTANTS LTD
Appointment of Liquidators – AYTEKIN CONSULTANCY & TRAINING SERVICES LIMITED
Appointment of Liquidators – YPNOS LTD
Appointment of Liquidators – ZACH’S PLAICE LIMITED
Appointment of Liquidators – CAPITAL CONCEPTS LIMITED
Appointment of Liquidators – GT DIRECT LIMITED
Appointment of Liquidators – GEORGE LEWIS CONSULTING LIMITED
Appointment of Liquidators – BE INVOLVED LIMITED
Appointment of Liquidators – CEC DATA LTD
Petitions to wind up (Companies) – RL ELECTRICAL SERVICES LTD
Appointment of Liquidators – VILLAIR ADMINISTRATION SERVICES LIMITED
Appointment of Liquidators – REED SURGICAL SERVICES LTD
Appointment of Liquidators – SDI (AINTREE) LIMITED
Appointment of Liquidators – LJC CONSULT LTD
Appointment of Liquidators – HVSAP LTD
Appointment of Liquidators – WAKEFIELDS NOTTINGHAM LTD
Appointment of Liquidators – PENDLE INVESTMENTS LIMITED(THE)
Petitions to wind up (Companies) – HOLLWAYS DOORS & FRAMES LIMITED
Appointment of Liquidators – WHITEWOOD MANAGEMENT CONSULTING LIMITED
Appointment of Liquidators – GABLES VIEW CONSULTANCY LTD
Appointment of Administrator – LEVENSEAT LTD.
Appointment of Liquidators – KNOX CONSULTING LIMITED
Appointment of Liquidators – NORTHERN PRINT SERVICES LIMITED
Petitions to wind up (Companies) – PURE FLOUR POWER BAKERY LTD
Appointment of Liquidators – ALAN WHITE GOLF PROFESSIONAL LIMITED
Appointment of Liquidators – SG ADVISORY PARTNERS LTD
Appointment of Liquidators – COMPRESSOR DESIGN SERVICES LTD
Appointment of Liquidators – RECON CONSULTING LIMITED
Appointment of Liquidators – CROVIN LIMITED
Appointment of Administrator – BENCHMARK SECURITY SOLUTIONS LTD
Appointment of Administrator – EVERGREEN AIR CONDITIONING SERVICES LTD
Appointment of Liquidators – IDM (CONTRACTORS) LIMITED
Appointment of Liquidators – YORKSHIRE STORAGE EQUIPMENT CO. LIMITED
Appointment of Liquidators – HRACE PROGRAMMES LTD
Appointment of Liquidators – UK NUCLEAR WASTE MANAGEMENT LIMITED
Petitions to wind up (Companies) – NEWLIFES CATERING LTD
Petitions to wind up (Companies) – TWIN RIVERS HOLIDAY PARK LTD
Petitions to wind up (Companies) – GB TRADERS LONDON LIMITED
Petitions to wind up (Companies) – FBP VENTURES LTD
Petitions to wind up (Companies) – M&E PRO LIMITED
Petitions to wind up (Companies) – PROXIMA DIRECT LIMITED
Petitions to wind up (Companies) – MNH RENOVATIONS LTD
Appointment of Liquidators – RAILSITE TELECOM INTERNATIONAL LIMITED
Petitions to wind up (Companies) – RAER CONSTRUCTION LTD
Petitions to wind up (Companies) – OPTICOM UTILITIES LTD
Petitions to wind up (Companies) – 18-19 BUCKINGHAM GATE INVESTMENTS LIMITED
Petitions to wind up (Companies) – VAN HASLEMERE LIMITED
Petitions to wind up (Companies) – INTERMEDI GROUP LIMITED
Petitions to wind up (Companies) – FIFTY ONE THE MALL LIMITED
Petitions to wind up (Companies) – TNT PARTNERSHIP LLP
Petitions to wind up (Companies) – FURQAN ENTERPRISES LTD
Petitions to wind up (Companies) – BUSY BEES DAY NURSERY LTD
Petitions to wind up (Companies) – AEROFAB RESTORATIONS LTD
Petitions to wind up (Companies) – REGENCY UK PROPERTIES LIMITED
Petitions to wind up (Companies) – SPECTRUM HEALTHCARE DOMICILIARY CARE LIMITED
Petitions to wind up (Companies) – BIYEP LIMITED
Petitions to wind up (Companies) – BLUE ROCK CONSTRUCTION LIMITED
Petitions to wind up (Companies) – WW DEVELOPMENTS LTD
Petitions to wind up (Companies) – LIYANA’S SPICE LIMITED
Petitions to wind up (Companies) – SPIRITS OF BOROUGH LTD
Petitions to wind up (Companies) – SLOAN ARCHITECTURAL LTD
Petitions to wind up (Companies) – ECO CHIMNEY LIMITED
Petitions to wind up (Companies) – HYPED MARKETING LTD
Why you should become a member of CPA!
The Credit Protection Association (CPA) has been assisting thousands of UK businesses to get paid, since 1914. We have supported our members through all sorts of difficult trading environments. With high interest rates and a struggling economy and elevated insolvencies, our services can help your business navigate these difficult waters.
Unlike other credit management and debt collection companies, we offer a range of services to our members that are all included as part of a fixed annual subscription, tailored to your needs.
Under your annual subscription you will have access to our main services:
- Our Creditcare credit reports provide credit ratings and limits along with a host of detailed information on your potential customers to enable you to trade with confidence and set appropriate credit policies for new customers.
- Our monitoring service will alert you to any significant changes in the status of those customers.
- Our Overdue account recovery service can be used to chase up payment on any invoices to those customers that have not been paid on time. Unlike other debt collection companies, this service directs your customer to pay direct to you and allows you to maintain your goodwill with them, rather than inserting ourselves into your relationship with you customer and insisting they pay CPA instead. Our Overdue account recovery service resolves over 80% of accounts referred to us.
All of the above services and other complimentary services such address verification, are included in your subscription!
And for the small minority of debts not resolved through our Overdue account recovery service, you can refer the debt to our collections department to escalate the late payment collections process.
CPA eases cash from tardy debtors – Efficiently, Effectively, Economically and Ethically. And we provide credit information so you can monitor and assess your key customers and be warned of any potential risks. CPA has been improving business cash flow for over 100 years, by tackling late payers and campaigning against the late payment culture in the UK.
Unlike other credit management companies, we offer our members a fixed annual subscription regardless of how high the value of their debts maybe!
Rather than to borrowing more money to improve your cashflow, CPA suggests that business owners tackle the problem at its source. If late payments are a strain on your cashflow, then talk to CPA about how we can help you reduce those late payments.
Just call Peter Uwins, CPA’s National Sales Manager, on 020 8846 0000 (business hours) or email nsm@cpa.co.uk today.
When you see your money come in, you will be so glad you used CPA.
The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections
Do you have a commercial late payer that is causing you grief? Use CPA’s no-win, no-fee, commercial debt recovery service!
If you have a particular business customer who is late paying and causing you sleepless nights, why not offer it to CPA’s collection department for purchase on recourse?
CPA’s collection department will then pursue the debt. We will be liable for any costs incurred and then when we have recovered the debt, we will pay you the net principle debt recovered less our percentage.
Once you have enjoyed that success then you can consider the more cost effective membership which includes our Overdue Account Recovery service and Status/Credit reports as well as a range of other complimentary services.
Just call 020 8846 0000 and ask for Godfrey Nelson or Cris Shirley (business hours) or email debtpurchase@cpa.co.uk today.
The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.
Get compensated for previous late payments
Have you been paid late by business customers in the last six years?
Maybe you no longer work with them. Under legislation, you are entitled to compensation you for those late payments you have suffered.
You put up with the PAIN – now claim the GAIN!
Claim late payment compensation (LPC) from former business customers who paid you late in the last six years!
CPA (LPC) Recoveries is using our bespoke software and decades of experience to do just that for our clients
Check our compensation calculator to see how much your business could be owed!
Discover NOW the potential value of late payment compensation hidden in your sales ledger!
The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.