AGP Executive Report

Storm Damage: Flooding from Storm Boelo left Largs businesses facing costly repairs and lost trading, with one shop unsure when it can reopen. Budget Pressure: Small firms are urging Chancellor John Healey to ease tax, wage and energy costs, warning they are holding back recruitment ahead of the Budget. The FSB says the tax burden is already too high. Red Tape: The government has announced an £800m plan to cut business bureaucracy and shelved plans requiring small companies to file profit-and-loss accounts. Retail: UK retail sales fell 0.4% as households cut back on food, adding to pressure on businesses reliant on consumer spending.

New Business: York graduate Aiden Tonyy has launched Seasonly, an app matching students with seasonal jobs after struggling to find flexible work himself. Budget Watch: The Chancellor has promised an £800m bureaucracy-cutting plan, while ministers have shelved a proposal requiring small companies to file profit-and-loss accounts. But 86% of small firms fear Budget measures could hurt growth. Costs and Demand: Business rates are set to rise by £1.1bn from April as inflation reaches 3.5%; retail sales fell 0.4% and diesel has hit £2 a litre, adding pressure on firms and customers. Local Contracts: Welsh firms won strong representation in council tenders, making up 90% of bidders for contracts worth £86m. Manufacturing: Wetherby engineering firm founder James McCartney is shortlisted for a top manufacturing award, recognising his small team’s work on production-line technology.

Local Contracts: Welsh firms made up 90% of bidders for £86m in building and maintenance contracts across three councils, after the tender was designed to encourage local businesses. A Pontypool firm topped the scoring for work in Torfaen. Red Tape: The government says it will save businesses £800m a year by cutting paperwork ahead of the Budget. The Institute of Directors backs the move but warns that the overall burden on firms still matters. Business Costs: A forecast £1.1bn rise in business rates from next April adds to pressure on small firms. Separately, a new report says cash-flow problems are holding back SME growth, even as businesses remain keen to invest.

AI Investment: The Chancellor has announced £165m for AI research, security and regional centres in Edinburgh and Manchester, with funding to study the technology’s impact on jobs and industry. Red Tape: A separate government plan promises businesses £800m in annual savings by cutting paperwork, ahead of the Budget. Trading Conditions: UK retail sales fell 0.4% as households cut back, adding pressure on small firms already facing weak demand. SME Finance: Cash-flow problems are holding back growth despite businesses’ appetite to invest, according to a new report. High Street Costs: Independent retailers warn business rates could rise by 25%, as owners seek relief and greater certainty from the Budget.

Budget and Red Tape: The Chancellor plans to save businesses £800m a year by cutting paperwork ahead of next week’s Budget, while small firms remain wary of tax changes and future costs. Cash Flow and Costs: A new report says cash-flow pressure is holding back SME growth despite firms’ appetite to invest. Manufacturers also warned MPs that high UK energy bills are pushing companies overseas, with long waits for grid connections adding to the strain. High Streets: Independent retailers have warned of a potential 25% business rates rise, as Great Britain’s retail sales fell 0.4% in September and consumer confidence weakened. Digital Platforms: UK publishers and digital advertisers have complained about Meta’s planned commercial terms, which they say could give the company broad rights to use their content; Meta has delayed the changes until 20 November.

Red Tape: Chancellor John Healey says plans to simplify reporting rules and extend tariff suspensions will save businesses about £800m a year, ahead of next week’s Budget. The package includes £290m from streamlined reporting and up to £155m from tariffs on more than 250 products; the government aims to cut firms’ regulatory admin by 25%. Insurance: Allianz UK is partnering with digital broker Superscript to offer online commercial cover for small businesses, landlords and tradespeople, with Allianz handling claims. Budget Pressure: Small-business owners are wary of tax rises and higher costs, with a recent survey finding 86% fear Budget announcements could damage growth. Scottish Rates: An academic says Scotland’s business rates system is complex and unpredictable, with cliff edges that can discourage investment and growth. Wales: An 11-member expert panel has started shaping a new economic development agency, with recommendations due after about six months of consultation with businesses and industry groups.

Budget Pressure: With the Budget due on 28 October, 86% of small firms fear measures that could damage growth, while three-quarters say tax worries have delayed major life decisions. A separate warning says a quarter of East of England firms could shrink or close; inflation at 3.5% and a £1.1bn business rates increase next April add to cost concerns. Travel Businesses: Independent travel firms are urging the Chancellor to freeze Air Passenger Duty, reform business rates and widen small business relief. Growth Funding: The British Business Bank has committed £2m to the Cambridge Angel Investment Network to support early-stage businesses.

Budget Fears: 86% of UK small businesses say possible Budget changes to tax, business rates or fuel duty could damage growth. Just 26% expect to grow in the final quarter, while 23% fear shrinking or struggling to survive winter. In the East, the FSB says one in four firms may shrink or close. Costs and Hiring: Inflation rose to 3.5%, driven partly by fuel, while vacancies fell by 21,000 in the three months to September. Smaller firms are scaling back recruitment amid higher employment costs. Cyber Alert: Critical PHP software flaws have prompted website shutdowns across Europe. UK firms with affected sites should act on security advice and apply available fixes. Finance: The British Business Bank has committed £2m to the Cambridge Angel Investment Network, backing investment in early-stage businesses.

Budget Pressure: UK small businesses are urging tax relief, saying uncertainty ahead of the Autumn Budget is freezing investment. Scottish firms also face a “postcode lottery” in business rates, with calls to simplify the system. Rising Costs: Diesel reached £2 a litre, prompting local businesses to warn of mounting transport bills. Late payments are another strain: £26bn in unpaid invoices is affecting 1.5 million UK firms. Jobs: Vacancies fell to a five-year low even as unemployment eased to 4.7%, signalling a tougher hiring market. Local Disruption: Derry’s Foyle Road has flooded at least 10 times since 2021, repeatedly disrupting businesses and traffic; more heavy rain is forecast. Growth Opportunities: Start Up Loans has appointed new regional ambassadors as lending passes £1.4bn. In East Ayrshire, firms can meet renewable energy developers and explore contracts tied to a multi-billion-pound project pipeline. Cybersecurity: Research found cyber-insured SMEs are 23 times more likely to have a formal security strategy, as critical flaws in widely used website software prompt urgent patching.

Fuel Costs: Diesel briefly topped £2 a litre, adding pressure to hauliers and delivery firms already facing higher operating costs. A vehicle using 100 litres a day now costs almost £58 more to fuel than in March. Tax and Budget: Scottish business leaders warn that tax complexity drains time and investment, while UK small businesses are seeking relief as Budget uncertainty holds back spending. BDO says simplifying tax rules could ease compliance costs; expanded business-rates relief is due from 2027. Hiring: Job vacancies have fallen to a five-year low, with small firms driving much of the decline. The annual cost of employing a full-time minimum-wage worker over 21 has risen to £25,852, adding to the risks of hiring. Business Support: Northumberland’s free Enterprise Festival returns in November, offering workshops on cash flow, pricing, customers and growth for start-ups and established firms. Energy Pressures: New research highlights the strain of energy costs on small businesses, as firms face mounting pressure ahead of the Budget.

Budget Pressure: UK small businesses are urging tax relief, with uncertainty ahead of the Budget freezing investment. The Treasury is also considering wider rates relief, while Scottish firms report confusing, uneven bills. Costs and Hiring: Small businesses say energy stress is adding to pressure, as UK vacancies hit a five-year low despite unemployment falling to its lowest level in a year. Workplace Rules: Employers face new Fair Work Commission rules on AI use in cases, while a separate warning says sexual-harassment training has fallen behind ahead of the 30 October deadline. Skills: A new Apprenticeship Talent Bridge, backed by BAE Systems and Babcock, aims to match candidates with smaller employers in defence from April 2027.

Retail Crime: Redditch recorded 102 robberies in the year to August, up 96% on the previous year; shoplifting also rose 9%, adding pressure for local retailers. Hiring: UK vacancies fell below 700,000 for the first time since 2021, reaching 691,000, while unemployment was 4.7%. Business Rates: The Herald has launched a campaign for reform in Scotland, including restoring small-business relief thresholds that have failed to keep pace with inflation. Budget Pressure: Independent retailers warn of a cost crisis unless next week’s Budget offers support. eBay’s UK boss has also urged ministers to ensure any online VAT crackdown does not unfairly burden small businesses.

Budget Pressure: Independent retailers warn that rates, employment and energy costs are squeezing margins. Bira says average business rates bills could rise 25% next year without relief, while more than 30,000 people have urged ministers to cut fuel duty ahead of the Budget. Online VAT: eBay’s UK boss says a proposed VAT crackdown must not unfairly penalise small sellers, as the government considers using marketplace tax receipts to fund business rates cuts. Public Contracts: A £900m Scottish refurbishment framework is inviting contractors to apply, with places reserved for small and micro businesses in some workstreams. Applications close on December 11. Owner Strain: One in three small business owners say they are taking a second job to get by, highlighting the growing pressure on firms’ finances.

Online VAT: eBay’s UK boss has urged ministers to protect domestic small sellers under reported plans requiring marketplaces to collect VAT from retailers with turnover above £90,000. The proposal aims to close a loophole for overseas sellers and could raise £1bn, but eBay warns the rules must not disadvantage UK businesses. Business Rates: Scottish firms face bills that have risen by several hundred per cent after a property revaluation, prompting calls for fundamental reform to ease pressure on shops, pubs and other high-street businesses. Owner Finances: A third of small business owners say they are taking second jobs to stay afloat, underlining the strain on household and business finances. Late Payments: Unpaid invoices are trapping £26bn and hitting 1.5 million UK firms, adding to cash-flow pressures. Energy Costs: With prices volatile and contracts hard to compare, energy brokers are used by 60% of UK small businesses; research suggests many owners lack confidence in understanding their bills.

Owner Finances: Enterprise Nation research finds one in three small business owners has a second job, while many work at least 45 hours a week on their business. Digital Tools: A Thames Valley entrepreneur has launched an AI platform to help SMEs find and manage IT providers, with free lifetime access offered to 500 local firms. Fuel Costs: More than 30,000 people have urged the Prime Minister and Chancellor to cut fuel duty, as businesses press for action ahead of the Budget. Budget Concerns: Small businesses are warning that tax changes could add to pressure on firms already facing rising costs. Late Payments: Unpaid invoices are trapping £26bn and affecting 1.5 million UK businesses, highlighting the cash-flow strain facing firms.

High Street Investment: A £210m government package for England includes £125m to transform derelict buildings and £65m for communities, potentially creating workspaces and services in empty premises. Business Costs: More than 30,000 people, including small-business owners, have urged the Prime Minister and Chancellor to cut fuel duty and make the freeze permanent, warning fuel costs push up prices across the economy. Succession: iwoca has launched manda, a platform connecting SME sellers with buyers. Its poll found only 21% of owners have a formal exit plan, despite half expecting their business to fund retirement. Trading Disruption: Rawtenstall businesses fear 42 weeks of Bank Street roadworks could hit Christmas footfall and threaten their survival; traders say the schedule was finalised without their feedback. Rural Connectivity: Scotland’s broadband rollout has reached 6,200 more Highland properties, including businesses, with faster connections.