Business news 30 October 2025

Confidence among Britain’s small firms has dropped sharply as anxiety builds over higher taxes in next month’s Budget. With the Office for Budget Responsibility cutting productivity forecasts and speculation mounting about tax increases, small business leaders warn of a “downward spiral” for the economy. Meanwhile, global markets were driven by central bank moves, record highs for the FTSE 100, and Nvidia’s historic $5 trillion valuation.

James Salmon, Operations Director.

📰 Top UK Business Stories

💸 Small firms outline closure concerns

Thousands of small businesses could close over the next year due to rising tax bills and falling revenues, according to an FSB survey. Thirty percent of small firms expect to downsize or shut, while 55% report lower income.
Why it matters: Reduced SME activity could tighten cash flow for suppliers relying on trade credit.

😯 SME confidence plunges on tax fears

New data shows business confidence at a two-year low as small firms brace for next month’s Budget. Only 18% expect to expand in the next year.
Why it matters: Declining sentiment may lead to delayed payments and weaker credit conditions.

💰 Chancellor considers 2p income tax increase

Rachel Reeves is reportedly weighing a 2p income tax rise while cutting National Insurance by 2p, raising £6bn for the Treasury.
Why it matters: Changes in disposable income could impact consumer demand and SME sales.

🧐 PM refuses to rule out tax hikes

Keir Starmer avoided confirming whether Labour would stick to its no-tax-rise pledge.
Why it matters: Growing uncertainty over tax policy makes financial forecasting harder for SMEs.

🏠 Experts warn LLP tax plan could backfire

A proposal to tax LLP partners as employees could add £46,000 a year per partner, prompting potential restructures.
Why it matters: Professional service firms may delay payments or restructure, affecting creditors.

🏠 Housebuilders voice concern over housing target

The Home Builders Federation says the government’s 1.5 million homes goal is unrealistic without tax cuts and support for first-time buyers.
Why it matters: Construction slowdown could ripple through SME contractors and suppliers.

💡 Chancellor vows to defy economic gloom

Reeves pledged to “defy” bleak forecasts, ruling out new borrowing and stressing fiscal discipline.
Why it matters: Fiscal restraint limits stimulus measures that could aid SMEs.

👨‍💼 UK risks losing entrepreneurial talent

The Young Entrepreneurs Forum warns Britain may lose start-up founders to friendlier tax and visa regimes abroad.
Why it matters: Fewer start-ups mean reduced demand for B2B goods and services.

📊 OBR cuts UK productivity forecast

The OBR downgraded productivity by 0.3%, creating a £7 billion fiscal gap for the Chancellor.
Why it matters: Further tightening of fiscal policy may slow economic recovery and credit flow.

🔬 ONS faces “life support” warning

MPs warned that the national statistics agency faces collapse without urgent reform.
Why it matters: Weaker data quality could make business planning and risk assessment harder.

🌍 Market & International News

🏆 FTSE extends record run

The FTSE 100 gained for an eighth straight session, closing at 9,756.14 (+0.61%). Nvidia’s record $5 trillion valuation and copper’s surge to $11,200/ton lifted global sentiment.
Why it matters: Strong equities suggest investor optimism despite fiscal headwinds.

💵 Bank of England rate cut expected

Goldman Sachs predicts a quarter-point cut to 3.75% at the next MPC meeting, bucking consensus for a hold.
Why it matters: Lower rates ease borrowing costs but may weaken the pound further.

📉 Pound slides on Budget fears

Sterling hit its weakest against the euro since 2023 amid fears of tax rises and spending cuts.
Why it matters: A weaker pound increases import costs and squeezes SME margins.

💲 US Federal Reserve cuts rates again

The Fed trimmed rates to 3.75–4% but signalled December cuts are “not a foregone conclusion.”
Why it matters: Mixed US policy outlook could sustain market volatility and impact UK exports.

💻 Tech giants surge

Microsoft and Alphabet beat earnings expectations; Meta posted higher revenue but rising costs. Nvidia hit a $5 trillion valuation on soaring AI chip demand.
Why it matters: Tech growth supports global investment sentiment and demand for UK suppliers.

⛽ Shell profits beat forecasts

Shell reported stronger Q3 profits on a rebound in oil and gas trading.
Why it matters: Higher energy sector profits could boost UK tax receipts.

🚚 Global carmakers cut output

Manufacturers, including Honda, scaled back production amid semiconductor supply chain disruptions.
Why it matters: Supply issues may raise costs and delay deliveries for UK importers.

🇺🇸 Trump–Xi trade thaw

At a South Korea summit, the US cut tariffs on Chinese fentanyl precursors and announced renewed soybean purchases.
Why it matters: Improved trade ties could stabilise global supply chains and commodity prices.

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📉 Insolvencies (Alphabetical List)

Appointments of Administrators:

  • AGILITAS IT SOLUTIONS LIMITED
  • SHEFFIELD 3 LIMITED
  • SHEFFIELD WEDNESDAY FOOTBALL CLUB LIMITED

Appointments of Liquidators:

  • ACTIVE LAND AND BUILD LIMITED
  • ARCHER UK BUSINESS CONSULTANCY LTD
  • ASHVALE PROPERTIES UK LIMITED
  • DOSTRY HOLDINGS LIMITED
  • DUBI2 CONSULTING LIMITED
  • E.APPLEYARD LIMITED
  • FBG RCD LTD
  • FRANK NOMINEES LIMITED
  • HARDWICK HOLDINGS LIMITED
  • H&H PROFESSIONAL SERVICES LTD
  • INVESTABUILD CONSTRUCTION LTD
  • IT INTERACT SERVICES LIMITED
  • KILCOAN LIMITED
  • KSS (COMMUNICATIONS) LIMITED
  • LITTLE STOKE CONSULTING LIMITED
  • MALTINGS HOMES LIMITED
  • MORGAN SPAIN LIMITED
  • NATIONAL PLACES LLP
  • NASH BOND LIMITED
  • POOJA & VINAY LIMITED
  • QUINN RESIDENTIAL DEVELOPMENTS LIMITED
  • RAVENSCROFT PROPERTY DEVELOPMENT LIMITED
  • RIPPLEWOOD LIMITED
  • ROSEDALE ADL LIMITED
  • RUSHAM CONSULTING LTD
  • SHAZLAR LIMITED
  • SITUU LIMITED
  • SITUU MANAGEMENT LIMITED
  • SUN JELLIES LIMITED
  • TROY TRADING LIMITED
  • VOLANTE MIDCO LIMITED
  • WALTONS MARQUEES LIMITED

Petitions to Wind Up (Companies):

  • AIR CONDITIONING VENTILATION ELECTRICAL LIMITED
  • AURORA GAS LTD
  • BUILDER MERCHANT SOLUTIONS LIMITED
  • EDINBURGH LUXE PLUMBING & HEATING LIMITED
  • EXCLUSIVE CARE FACILITIES LTD
  • GE GLASGOW LTD
  • LINK INTERNATIONAL BRANDS LIMITED
  • LOXWOOD CLAY PITS LTD
  • MAINTENANCETV LTD
  • MUIR BUSINESS SERVICES (SCOTLAND) LTD
  • NEST HOUSING ASSOCIATION LIMITED
  • PRESTIGE UTILITIES LIMITED
  • QUANTUM HEATING AND ENERGY SOLUTION’S LTD
  • RAPID BUILDING SUPPLIES LTD
  • SRI JVT LTD
  • WATCHES OF BATH (RETAIL) LIMITED