Business news 17 October 2025

Small businesses are growing increasingly anxious ahead of November’s Budget, with fears that higher taxes and spending cuts could squeeze growth further. The Chancellor has ruled out a formal wealth tax but confirmed that higher taxes on the wealthy are still “part of the story”. Meanwhile, financial markets turned sharply lower on global banking worries, and new insolvency data show continued distress in the construction and retail sectors.

James Salmon, Operations Director.

💼 Small firms flag Budget fears

Eight in ten small businesses say they’re worried about the upcoming Budget, according to Novuna Business Finance. Confidence has fallen for the fourth consecutive quarter, with just one in four firms expecting growth this winter. Many are calling for measures to boost cash flow and cut late payments.

🏦 Chancellor rules out wealth tax – but higher levies still coming

Rachel Reeves has confirmed there will be no new “wealth tax” in next month’s Budget, but hinted that the wealthy will still pay more through existing taxes. She emphasised that “those with the broadest shoulders” must contribute fairly while maintaining the UK’s competitiveness as a place to do business.

💷 Business rates rise could hit investment, warns BT

BT Group warned that proposed increases in business rates on large sites could deter investment and cost the economy £1.5 billion a year. The company called the system “outdated and unfair”, urging reform to support infrastructure spending.

🏠 Iberdrola explores options for Scottish Power retail

The owner of Scottish Power has held talks with rival utilities over a potential partnership or sale of its UK retail arm. Iberdrola is reviewing ways to streamline operations as competition in the energy retail sector remains fierce.

⚡ UK grid balancing costs surge 25%

The National Energy System Operator spent £2.1 billion this year managing fluctuating renewable power supply — costs ultimately passed on to consumers. The figures underline the challenges of Britain’s green transition amid record-high bills.

🍽 Construction slowdown deepens

UK construction output fell 0.3% in August, marking the ninth consecutive month of contraction. The sector accounts for more than 15% of all insolvencies, with small firms hit hardest by rising input costs and tighter credit conditions.

🍽 British beef under pressure

Supermarkets are quietly sourcing more imported beef as domestic prices soar and livestock numbers fall. Farmers warn that British beef could lose shelf space if the trend continues, although retailers insist that most of their fresh beef remains UK-sourced.

🧁 Historic bakery saved

Roberts Bakery — a 138-year-old family business — has been rescued from closure after a management buyout backed by Boparan Private Office, safeguarding more than 400 jobs in Cheshire.

📈 Global Market Snapshot

Markets turned sharply lower on Friday as banking sector worries spread from the US to Europe.

  • Equities: European shares slumped to their worst day since August, with the Stoxx 600 down 1.6%. UK bank stocks tracked the global selloff. US futures also fell, led by declines in Tesla and Nvidia.
  • Commodities: Oil fell for a third straight week, with Brent near $61 a barrel, while European gas prices eased slightly to around €32/MWh.
  • Currencies: The pound and euro strengthened against a weaker dollar as investors priced in slower US rate rises.
  • Corporate highlights:
    • TSMC posted a record 39% profit surge on AI chip demand.
    • Nestlé will cut 16,000 jobs to save £940 million, focusing on high-margin products.
    • BYD faces a 115,000-vehicle recall in China due to battery issues.

🚨 Insolvencies – 17 October 2025

Appointments of Administrators

  • Ambient Support Limited
  • Electro-Replacement Limited
  • Haven Engineering 2016 Limited
  • North View Engineering Solutions Ltd.

Appointments of Liquidators

  • Addison Social Housing Limited
  • Amanda Huberman Ltd
  • Ashfordel Ltd
  • Avery Search Ltd
  • Bloomsbury Plaza Services Limited
  • C G N Consulting UK Limited
  • Elspeth Beard Architects Limited
  • J.J Associates Distribution Limited
  • Madrangas Ltd
  • Nailsworth and District Comrades Club Limited
  • Pearson Overhead Line Engineering Ltd
  • PPNL SPV B63 – 1 Limited
  • Rosebush Holdings Limited
  • The Buyers Buddy Limited
  • The Psychological Manager Limited

Petitions to Wind Up (Companies)

A & S Construction & Labour Ltd, AA Prestige Cars Ltd, ACL (2002) Ltd, Adore Venues Ltd, Affinitas Global Ltd, Alexander Simpson Ltd, Alta Flora Ltd, Amanda Huberman Ltd, Ambient Support Ltd, Aqua Africa Ltd, Assettrain Financial Technologies Ltd, Aujla Distribution Ltd, Big Tree Packaging Ltd, BriteSon Ltd, Brookhouse Contracts Ltd, Business Happy Ltd, Cairn Design and Fit Ltd, Checkley Consulting Ltd, Clifford Properties Ltd, Cocuun Ltd, Complete Protection Services Ltd, DC London Pie Ltd, Deltaforce Management Ltd, DRW Designs Ltd, DSD Trading Solutions UK Ltd, Epiderma Distribution Ltd, Equinox Innovations Ltd, Fine Construct Ltd, Footwork Ltd, Good Space QP Ltd, GPD Records Ltd, Grit Digital Ltd, Harmonic Medical Sonography Ltd, Hello Peachy Ltd, ICDPro Ltd, KCJ Training and Employment Solutions (Oxfordshire) Ltd, KIWI Hospitality Ltd, Knighton Developments Ltd, Komorebi Homes Ltd, Lady Leisure Ltd, Leaf Community Team Ltd, Manor FM Ltd, Maanya Recruitment Ltd, Maycroft Homes Ltd, ME Estate Agents (Ash Vale) Ltd, ME Estate Agents (Alton) Ltd, ME Estate Agents (Holdings) Ltd, ME Estate Agents (Worplesdon Road) Ltd, Miller & Paget Leisure Ltd, Mirkay Ltd, Museum of Youth Culture C.I.C., Must Rooms & Investments Ltd, Nanoplexus Ltd, Newhaven 2020 Ltd, Northreach Properties Ltd, Oceans One Ltd, OM Cash & Carry Ltd, Openbox Logistics Ltd, P15583838 Ltd, Park Woks Ltd, Pegasus Alfa Ltd, Pendle Capital Ltd, QCR Investments Ltd, Recruiting Solution Ltd, Rhodsac Community Living Ltd, Roberts Bakery Ltd, Rodina BG Ltd, RSC Projects Ltd, S & P Fencing & Decking Ltd, Schmelbal Ltd, Shummi Ltd, Solid State Decorators Ltd, South East Builders Merchants Ltd, Square Pay Solutions Ltd, SR Kilby Contractors Ltd, Stonham Barns Ltd, Taproom Taverns Ltd, The Internet Retailer Ltd, TM Agri-Services Ltd, TopExtend Ltd, Transformer Acquisition Company Ltd, UK FM Services Ltd, Victoria & Sons Scaffolding Ltd, West Newnham Ltd, Wimbledon Quant Lab Ltd, Woods Plant Hire Ltd, Worldwide Designs Ltd, Young London Today.

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