Business news 2 December 2025

UK markets were steady but cautious today as fresh political tension around the Budget, softening consumer spending, and weakening business confidence all weighed on sentiment. Manufacturing has finally moved back into growth, banks passed tough stress tests, and a major UK-US pharmaceutical deal has helped stabilise a key export sector. However, services firms are increasingly pessimistic, mortgage approvals dipped, and high-profile job losses continue across the economy. Below is everything SME owners trading on credit need to know.

James Salmon, Operations Director.

Business News

OBR chief resigns amid Budget leak row

The head of the Office for Budget Responsibility, Richard Hughes, has resigned after the OBR accidentally published Budget details early, sparking political uproar.
Why it matters for SMEs: Political instability increases uncertainty, which often slows decision-making and delays invoice payments.

Tax hikes risk choking investment, warns City of London’s Lady Mayor

Susan Langley has warned that new tax rises on savings, dividends and pensions could deter much-needed investment.
Why it matters for SMEs: Reduced investment appetite tightens funding conditions and risks slower settlement of invoices.

£2m council homes exempt from new mansion tax

The Chancellor will exempt high-value council homes from the upcoming mansion tax, sparking criticism of unfair treatment.
Why it matters for SMEs: Tax policy disputes add uncertainty, encouraging customers to be more cautious with spending and payment.

Zipcar to shut down UK operations

The car-sharing company will exit the UK market by year-end due to rising insurance and energy costs.
Why it matters for SMEs: Firms relying on flexible vehicle access may face higher costs, tightening cashflow and delaying payments.

Topps Tiles appoints new finance chief

Caroline Browne takes over as CFO following Stephen Hopson’s departure.
Why it matters for SMEs: Leadership changes can affect payment practices and buying patterns at large retailers.

Harbour Energy announces 100 further job cuts

The North Sea producer will cut another 100 jobs as it struggles with weak prices and high UK taxes.
Why it matters for SMEs: Job losses ripple through supply chains and often slow invoice settlement.

Investors losing confidence in the UK, survey finds

Most wealthy investors no longer see the UK as an attractive place to start or invest in businesses.
Why it matters for SMEs: Lower confidence raises the risk of tightening credit conditions and longer payment cycles.

UK manufacturing returns to growth

The PMI rose back above 50 for the first time in a year, signalling slight expansion.
Why it matters for SMEs: Weak, fragile growth still means customers remain cautious and may delay payments.

Mortgage approvals slip while savers shift into ISAs

Approvals dipped slightly as consumers reacted to Budget uncertainty.
Why it matters for SMEs: Softer housing activity and household caution tend to reduce spending and slow payments to suppliers.

Consumer spending slump threatens 2026 growth

Black Friday visits were down both week-on-week and year-on-year.
Why it matters for SMEs: Lower consumer demand strains retailers, leading to slower payments to suppliers.

CBI: services optimism falling at three-year record pace

High costs and Budget changes are weighing on service-sector confidence.
Why it matters for SMEs: When service firms turn pessimistic, they lengthen payment terms and delay new orders.

Markets welcomed the Budget, says Peel Hunt CEO

Gilt yields fell and equities rose, though reforms were described as insufficient.
Why it matters for SMEs: Market stability supports confidence, but limited reforms may still constrain credit availability.

UK and US agree zero-tariff deal on pharmaceuticals

The UK will increase NHS medicine spending in exchange for continued tariff-free access to the US for UK-made medicines.
Why it matters for SMEs: Trade stability protects supply chains, especially for suppliers to life-sciences industries.

Costco sues US government for tariff refunds

Costco has filed suit to secure repayment of emergency-power tariffs if the Supreme Court strikes them down.
Why it matters for SMEs: Trade uncertainty can increase costs across supply chains and lengthen payment times.

UK house price growth slows but market remains steady

Annual growth eased to 1.8%, but monthly growth remained positive.
Why it matters for SMEs: A subdued housing market dampens renovation and consumer spending, often delaying payments.

UK banks pass stress tests; capital requirements to fall

The Bank of England confirms banks are strong enough to withstand severe shocks and will reduce sector-wide capital requirements from 14% to 13% of risk-weighted assets by 2027.
Why it matters for SMEs: Lower bank capital requirements can improve the availability of business lending.

Warner Bros. Discovery reviews binding takeover bids

Netflix is among the bidders submitting mostly cash offers, with a deal possible soon.
Why it matters for SMEs: Large media deals influence advertising spending and digital market dynamics affecting UK small firms.

Market Snapshot

Equities

  • FTSE 100: Flat in morning trading
  • Stoxx 600: Slightly higher, mixed sector performance
  • Dow Jones: Down 0.90%
  • S&P 500: Down 0.53%
  • Nasdaq: Down 0.38%

Commodities

  • Brent Crude: $63.02
  • WTI: $59.23
  • Copper: Record highs at $11,334 a ton
  • Gold: $4,219 per ounce

Currencies

  • GBP/USD: 1.3214
  • GBP/EUR: Below 1.14 after recent declines
  • USD weakening for fifth consecutive day
  • EUR strengthening for sixth day
  • JPY rising after hawkish BoJ signals

Insolvencies

Cleaned, deduplicated and alphabetically sorted.

Appointments of Administrators

  • SDM Fabrication Limited
  • Silven Recruitment Limited

Appointments of Liquidators

  • Augusta 64 LLP
  • B & B Attachments (1999) Limited
  • B & B Attachments (Holdings) Limited
  • Burgess Hodgson Audit 2025 Limited
  • Carter Thomas Limited
  • Charles Derby Group Limited
  • Christine Bell Healthcare Consultancy Limited
  • Colbourne Investments Limited
  • Crerar Holdings Limited
  • Dega Broadcast Systems Limited
  • Fairmount Consulting Limited
  • Flaretot Limited
  • G & Z Investments
  • GH Legal Limited
  • Glencar Project Management Ltd
  • Global Marine Flooring Ltd
  • G J W Support Design Limited
  • Juniper Consultancy Services Limited
  • Kerr Consulting Group Limited
  • Midcorp Limited
  • P & J Walsh Properties Ltd
  • Peaky Investments
  • Perbeck Advisory Limited
  • Priority Space (Skylon) Limited
  • Professional Rehabilitation Guidance Limited
  • Quantig Ltd
  • Sam Axten Ltd
  • Scottsdale Properties Limited
  • Serval Maritime Limited
  • SNDY Limited
  • The Advance Charitable Fund UK
  • Tenerity Travel Holdco Limited
  • Wellington Woolwich Limited
  • Whitehead Alloys Limited
  • WRC Computer Services Limited
  • YPG Limited

Winding-Up Petitions

  • Biome Algae Ltd
  • Core Image Limited
  • Dust Design Ltd
  • Dust Project Management Ltd
  • EVRIDERZ Ltd
  • Greenways Accountants Limited
  • Metix Limited
  • Regal Routes Limited
  • Seso Global Limited

Strengthen Your Credit Position Today

Staying ahead of late payments is critical in a tightening economy. With CreditCare monitoring, CPA can alert you the moment a customer’s risk profile changes — giving you the power to act early, protect cashflow, and recover overdue accounts faster.

Just call Peter Uwins, CPA’s National Sales Manager, on️ 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.