Fuel Ventures, one of the UK’s most prolific VC firms, is inviting startups to pitch businesses built with an AI co-founder, with up to £250,000 available for investment in the strongest idea. The initiative is based on recent internal analysis conducted by Fuel Ventures, which found that 76% of the highest-performing businesses in its portfolio were co-founded by two or more individuals. These co-founded startups consistently demonstrated higher resilience, broader skill coverage, and stronger overall execution compared to ventures led by solo founders. In light of this data, Fuel now wants to know: can artificial intelligence act as a functional co-founder, filling the…
Author: sme-admin
The number of UK businesses exporting solely to the EU fell by 19% in 2024 to 14,300, from 17,800 in 2023, says London-based chartered accountants and business advisers Lubbock Fine LLP. Meanwhile, the number of UK businesses importing and exporting exclusively to non-EU countries increased 12% over the same period to 132,000, up from 118,000. Alex Altmann, Partner at Lubbock Fine and head of the firm’s German Desk, says this drop in companies exporting to the EU highlights how welcome the May 19th EU/UK trade agreement is. The deal will see a reduction on veterinary checks on plants and animals transported…
As inflation jumps to its highest level in over a year and continues to pinch pockets, new research has revealed the UK sectors offering the best hourly pay for workers.¹ The business finance experts at money.co.uk business bank accounts have analysed ONS data about average hours worked and median average pay for a range of sectors to uncover the ones offering the best – and worst – hourly pay. Industries with the highest hours-to-pay ratio: Rank Industry Median weekly paid hours Median gross annual pay Median gross pay per hour 1 Electricity, Gas, Steam, and Air Conditioning Supply 37.0 £51,886 £26.89 2 Financial…
Small firms are keen to become more energy-efficient, but they are being held back by the high upfront cost of green investment. A major new report from the Federation of Small Businesses (FSB) in partnership with Zurich UK, New Growth: How to support small businesses to cut carbon and costs on the road to Net Zero, published today (27 May), finds that half of small businesses (51%) say that sustainability is a high priority for their business. While nearly two-thirds of small firms (64%) think that sustainability should be a high priority for the Government, only a quarter (25%) expect to…
More than four-in-five (86%) DB schemes are currently running at a surplus, though 36% need advice on how they could utilise it, according to new research from LawDeb, the independent professional services firm. The research, which was conducted amongst 150 finance decision makers in UK companies with DB pension schemes, also revealed that 76% of smaller schemes, with assets valued between £100m-£249m report running at a surplus, with this number rising for schemes between £250m-£499m (90%) and £500m-£999m (93%). How do firms say they plan to utilise DB surplus? With the majority of DB schemes running at a surplus, it’s…
National children’s reading charity Schoolreaders has partnered with a leading furnishing, fit-out and service provider to enhance employee wellbeing and support reading ability in primary schools. Project Group, sought to expand its ESG programme by offering meaningful, holistic support for its staff working in fast-paced environments. After research and a word-of-mouth recommendation, Project Group partnered with Schoolreaders, a charity which provides free reading support to primary schools. Andrea Ball, Group ESG and Social Value Director at Project Group, said: “As a volunteer myself, I’ve had the opportunity to support reading and mentoring programmes with previous employers, and it’s something I’m passionate about.…
With rising costs and uncertainty around international trade impacting the shape of UK businesses, many small businesses are looking to adapt to new technologies. New data* from VistaPrint, the leading print and design partner for small businesses, reveals that 1 in 4 (25%) small businesses have used cryptocurrencies to help support business growth, increasing to 3 in 5 (63%) for small business owners with 10-49 employees. The adoption of cryptocurrencies by small business owners is largely driven by an appetite to provide more payment options to grow customers. 1 in 2 (49%) UK small businesses have accepted or are accepting cryptocurrencies…
The Procurement Act 2023, which came into force February, is calling on businesses to jump through strict social and environmental hoops to secure lucrative government and public contracts. That’s according to renewable energy specialist and managing director of CES, Joe Collison, who says businesses will need to clean up their act if they want to win their slice of the pie. “The Procurement Act represents a big mindset change for both contractors and procurers alike, as base price is no longer the biggest priority,” said Joe. “Businesses are going to have to make changes that increase energy efficiency, utilise more green energy,…
With continued coverage around Gary Lineker’s departure from the BBC following his controversial social media post on Zionism, Employment Partner at law firm Harper James, Sally Gwilliam, comments on what this high-profile situation means for employers more broadly, particularly around employee social media use, reputational risk, and how businesses can respond proportionately and fairly when issues arise: “Gary Lineker’s departure from the BBC following his repost of controversial content on social media is a timely reminder of how personal online activity can have professional consequences, particularly for individuals with a high public profile or a clear association with their employer. “While Lineker has…
As reported by BBC News, the UK government has introduced new rules to protect people using buy now, pay later services (BNPL), aiming to bring more control to what it describes as the “wild west” of unregulated borrowing. Under the new legislation, lenders will be required to carry out affordability checks to help prevent people from taking on unmanageable debt. Shoppers will also benefit from quicker access to refunds. Senior Financial Services Solicitor at law firm Harper James, Charles Rogers, comments on what this new legislation means for firms: “The government’s move to bring Buy Now Pay Later (BNPL) products offered…