Business news 17 April 2025
UK small businesses suffer export slump. UK inflation falls to 2.6% in March. Markets, house prices, insolvencies & more business news that we thought would interest our members.
James Salmon, Operations Director.
Please note: on the 19/3/25 CPA moved after 45 years on King Street, to new offices a couple of miles down the road at Profile West, 950 Great West Road, Brentford, TW8 9ES.
UK small businesses suffer export slump
According to a new survey by the British Chambers of Commerce (BCC), many small UK businesses are experiencing a decline in overseas sales, exacerbated by President Donald Trump’s tariffs. The trade confidence outlook report, which surveyed 1,800 SMEs, revealed that over a quarter of exporters reported decreased sales in the first quarter of the year, a significant rise from 14% in mid-2018. Nearly a third of manufacturers also faced sales declines, indicating broader issues within the sector. William Bain, BCC’s trade policy head, said: “We believe the Government has adopted the right strategy for tariffs of negotiation not retaliation, and the signals from the White House are there is a deal to be done.” He added: “It is also right to pursue a closer trading relationship with the EU and to point businesses towards the burgeoning opportunities in the Indo-Pacific region.”
UK inflation falls to 2.6% in March
UK inflation fell from 2.8% in February to 2.6% in March, intensifying the pressure on the Bank of England to consider cutting interest rates next month. Analysts had expected a drop of 2.7%. Services inflation slowed more than expected to 4.7% in March from 5% in February. Food inflation also eased, from 3.3% to 3%. However, the drop is expected to be short-lived with analysts predicting a spike from April as rising bills and higher business costs take hold. The Chancellor welcomed the figures, saying: “Inflation falling for two months in a row, wages growing faster than prices and positive growth figures are encouraging signs…but there is more to be done.”
Markets
Yesterday, the FTSE 100 recovered from lows to close up 0.32% at 8275.60 while the Euro Stoxx 50 closed marginally down 0.08% at 4966.50.
Overnight in the US the S&P 500 dropped 2.24% to 5275.70 and the NASDAQ sunk 3.07% to 16307.16. Jerome Powell, the chair of the Federal Reserve, warned that Mr Trump’s tariffs could jeopardize the central bank’s “dual-mandate goals” of ensuring low inflation and a healthy job market causing US stocks to dip. he appeared to signaled a wait-and-see approach to an interest rate response to tariffs, pushing back on Wall Street hopes that the central bank would act quickly to soothe investor fears.
In the US chip makers lead the declines after the US blocked exports to China. indeed global chip stocks took a battering as U.S. President Donald Trump’s shifting trade policy appeared to muddy the outlook for semiconductor and computing giants, such as Nvidia and AMD. it wasn’t helped by chip foundry builder, ASML, missing order expectations and saying that uncertainty from new US trade restrictions may affect demand for its critical chip making machines.
This morning on currencies, the pound is currently worth $1.324 and €1.1635. On Commodities, Oil (Brent) is at $66.4 & Gold is at $3322. On the stock markets, the FTSE 100 is currently down 0.54% at 8231 and the Eurostoxx 50 is down 0.4% at 4946 as markets await the ECB decision.
Japan’s Exports rose at a slower pace than expected in March, numbers from the Ministry of Finance showed Thursday. Japan’s trade balance increased 56% to a surplus of JPY544.05 billion, approximately $3.82 billion, in March from a JPY349.86 billion surplus during the same month a year earlier.Japan held trade talks with the US ans Trump reported that there had been Big Progress!
China is fighting back against US attempts to isolate the nation with Xi Jinping pushing the idea of an “Asian family” and calling for regional unity against US attempts to divide them, during a tour of Southeast Asia.
Ban on EU cheese and meat
The UK government has brought in a temporary ban on holidaymakers bringing in cheese and meat products from the EU in a bid to prevent the spread of foot and mouth disease
Hays faces tough times ahead
Recruitment firm Hays has announced significant job cuts in the UK and Ireland, reducing its consultant headcount by 11% in the last quarter and 20% year-on-year. The company anticipates that challenging market conditions will persist into fiscal 2026, attributing this to Europe’s economic struggles and a global trade war. Hays reported a 13% decline in net fees in the UK and Ireland, with temporary and permanent fee revenues down 11% and 16%, respectively. Hays aims to improve productivity and reduce costs, expecting better profit performance in the second half of the fiscal year. Overall, the group’s global net fees fell by 9% year-on-year.
Parents rush to gift house deposits
The Chancellor’s recent changes to inheritance tax rules have prompted a surge in parents providing substantial house deposits to their children, aiming to avoid hefty tax bills. According to data from Twenty7tec, 110,325 homebuyers received at least £100,000 from family members last year, an 8% increase from 2023. Parental gifts and loans for house deposits reached £9.3bn in 2024, nearly double the £5bn recorded in 2019. With inheritance tax currently at 40% on assets over £325,000, many are utilising the “seven-year rule” to gift assets tax-free. Nimesh Shah from Blick Rothenberg commented: “The Government has turned the screws on inheritance tax recently which has brought that to the forefront of people’s minds. They’re worried about the seven-year rule being scrapped or lengthened – as it’s quite generous at the moment.” The Office for Budget Responsibility predicts that by 2029-30, 9.7% of estates will be liable for inheritance tax, up from 4% today.
House prices soar 5.4% in February
UK house prices experienced a significant increase of 5.4% in the year leading to February, marking the fastest growth in over two years, according to the Office for National Statistics. This rise follows an increase from 4.8% in January, with heightened activity as buyers aimed to avoid impending stamp duty hikes. Prices reached £292,000 in England, £207,000 in Wales, and £186,000 in Scotland. Overall, the typical UK home sold for £268,000. Elliott Jordan-Doak from Pantheon Macroeconomics remarked that the inflation in house prices “illustrating the resilience of the housing market”.
Brits reject Labour’s pensions gamble
British savers are expressing concerns over Chancellor Rachel Reeves’ proposal to direct pension funds towards the UK economy. Despite Reeves asserting that this could enhance UK growth by billions, a survey by PensionBee revealed that only 8% of savers are inclined to invest in high-risk assets. The survey also indicated that 26% of savers favour low-risk strategies, while 41% seek simple, transparent investments. Clare Reilly, chief engagement officer at PensionBee, said “These findings highlight that UK pension savers want stability and transparency, not speculation. The majority are looking for steady, reliable growth, with most favouring a balanced, moderate-risk approach.”
Sainsburys
J Sainsbury released its results for the year ended March 1. Post-tax profit surged 77% to £242 million from £137 million, the grocery retailer said. Pretax profit from continuing operations rose to £621 million from £489 million. Basic earnings per share rose to 10.4 pence from 5.9p. Revenue increased to £32.81 billion from £32.24 billion, with retail sales excluding fuel rising 4.2% to £26.6 billion. The full-year dividend is up 4% on-year at 13.6p. Sainsbury said it expects to return bank disposal proceeds of £250 million via a special dividend in the second half of the year and intends to buy back shares worth at least £200 million.
Oil Prices extended gains on the prospect of tighter supply after Washington imposed further sanctions to curb Iranian oil trade and as some OPEC producers pledged more output cuts to compensate for pumping above agreed quotas.
Gold Prices eased as investors booked profits after bullion hit an all-time high earlier, with US restrictions on chip sales to China and continued tariff uncertainty boosting bullion’s safe-haven demand.
Speedy Hire accelerates depot closures
Speedy Hire has expedited the closure of several depots and restructured support roles in response to significant tax hikes, saving approximately £3.5m over the year. Despite these challenges, the company reported that trading was in line with expectations. Shares rose slightly by over 1% during mid-afternoon trading, although they have plummeted over 30% this year. The firm has faced a downturn in demand and delays in Network Rail projects. On Wednesday, Speedy Hire announced a £225m refinancing plan, which includes a £150m revolving credit facility and a £75m private placement term loan, aimed at providing greater flexibility for growth. The company remains optimistic about its future opportunities, stating: “The actions we have taken give confidence into the new financial year.” Final results for the financial year ending 31 March 2025 will be announced on 18 June 2025.
EY under scrutiny for Post Office audits
The UK Financial Reporting Council (FRC) is investigating EY regarding its audits of the Post Office, particularly focusing on the Horizon IT system linked to the scandal. The FRC’s inquiry will examine audits conducted from March 2015 to March 2018, with a specific emphasis on auditing standards rather than the software’s broader issues. Over 900 subpostmasters were wrongfully prosecuted due to faulty Horizon software, leading to significant financial and personal repercussions. Many are still awaiting compensation, despite the Government announcing £600,000 payouts for those with quashed convictions. A spokesperson for EY stated that the firm takes its “public interest responsibilities extremely seriously” and will “fully co-operate” with the FRC. Recently, EY was fined £4.9m by the FRC for breaching auditing standards in its review of Thomas Cook’s accounts prior to the company’s collapse in 2019.
Belmar Engineering collapses
Aberdeen-based engineering firm Belmar has entered liquidation, resulting in the loss of all 48 jobs. Established in 1975, the company faced challenges from increased international competition, recent financial losses, and declining orders. Liquidators MHA reported that attempts to sell the business were unsuccessful. Staff were informed of the situation during a meeting, and a letter was sent to approximately 80 creditors who may be owed several million pounds. Michael Reid from MHA stated: “The decision to close was taken as the final option,” and assured employees they would be guided on claiming their employment entitlements, including unpaid wages and redundancy.
Latest Insolvencies
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Appointment of Liquidators – PROPERTY PEOPLE (N W) LIMITED
Appointment of Liquidators – SENIOR LIVING (FREELANDS) LIMITED
Appointment of Liquidators – RAIL PARTNERS LIMITED
Petitions to wind up (Companies) – MHRECRUITS LTD
Winding up Order (Companies) – STONE MAKER PROPERTIES LIMITED
Winding up Order (Companies) – LISTER’S BREWERY LIMITED
Winding up Order (Companies) – APTE LTD
Winding up Order (Companies) – SYCAMORE RAIN LIMITED
Winding up Order (Companies) – BITZ N PIZZAS LTD
Winding up Order (Companies) – PETER GOOD SERVICE LIMITED
Petitions to wind up (Companies) – SANCOSHIPPING LTD
Petitions to wind up (Companies) – GLOBESERVES JS LIMITED
Appointment of Liquidators – SSB DEVELOPMENTS LIMITED
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Petitions to wind up (Companies) – CROGA STUDIO BUILDS LTD
Petitions to wind up (Companies) – SOLLER EIGHTEEN LIMITED
Petitions to wind up (Companies) – REMAS LIMITED
Petitions to wind up (Companies) – UNITE INTERIORS LTD
Petitions to wind up (Companies) – VENN HOLDINGS LIMITED
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Petitions to wind up (Companies) – JOSEPH CREATIVE BUSINESS LIMITED
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Petitions to wind up (Companies) – SERVICES EQUIPMENT AND SPARES LIMITED
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Petitions to wind up (Companies) – SN VINCO UK LIMITED
Petitions to wind up (Companies) – CK ACCOUNTANCY LIMITED
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Appointment of Administrator – CARDIFF RUGBY LIMITED
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Petitions to wind up (Companies) – COUNTRY HOUSE ACCOMMODATION AND EVENTS LIMITED
Appointment of Liquidators – GNB HOLDINGS LIMITED
Appointment of Liquidators – DICKSON TENANCIES LIMITED
Petitions to wind up (Companies) – GAYSHA LIMITED
Petitions to wind up (Companies) – UTF DRYLINING LIMITED
Petitions to wind up (Companies) – MAZAPAY LTD
Petitions to wind up (Companies) – SOVERIGN SERVICE EAST LTD
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Appointment of Liquidators – C S DAY LIMITED
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Petitions to wind up (Companies) – MARFLEET BUILDING CONTRACTORS LLP
Petitions to wind up (Companies) – RKA TELECOMS LTD
Petitions to wind up (Companies) – TOAST (SOUTHERN) LIMITED
Petitions to wind up (Companies) – G E D ENVIRONMENTAL SERVICES LTD
Appointment of Liquidators – MIDLAND (SINGLE PLY) HOLDINGS LIMITED
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Appointment of Liquidators – HARRIS & BUNDY PROPERTY LTD
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Appointment of Liquidators – MIDLAND (SINGLE PLY) ROOFING LIMITED
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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!