Business

Virgin StartUp has announced a new £20 million funding pot to support UK entrepreneurs in the coming financial year, marking the organisation’s largest annual allocation since partnering with the British Business Bank in 2013.

The funding will be made available between 1 April 2026 and 31 March 2027 through the government-backed Start Up Loans programme and is designed to widen access to early-stage finance for aspiring founders across the UK.

The announcement also marks a significant milestone for Virgin StartUp, which has now distributed more than £100 million in Start Up Loans funding since the partnership began more than a decade ago. Over that period the not-for-profit organisation has supported more than 6,500 entrepreneurs to launch and grow businesses across a wide range of sectors.

Businesses that received early backing through the programme include well-known consumer brands and technology ventures such as sportswear label Castore, ethical skincare company Upcircle, drinks brand DASH Water, AI fitness scale-up Magic AI and sustainable food subscription service Oddbox.

According to Virgin StartUp, the loans delivered through its programme have generated an estimated £550 million in economic value for the UK, equating to a return of £5.50 for every £1 invested.

The organisation also reports that 69 per cent of businesses supported through its Start Up Loans funding remain trading after five years, significantly higher than the national average of 43 per cent, suggesting founders who access the programme are around 60 per cent more likely to survive their early years in business.

Andy Fishburn MBE, managing director at Virgin StartUp, said the new funding would allow the organisation to back more founders at a time when early-stage capital has become increasingly difficult to secure.

“With over £20 million in Start Up Loan funding to deploy this year, we’ll be supporting and funding more founders than ever before,” he said. “Early-stage funding has never been harder to come by, so this investment will help entrepreneurs turn bold ideas into sustainable businesses at a critical moment for the UK economy.”

Fishburn added that the programme is open to individuals launching their first business, developing side ventures or growing young companies that have been trading for up to five years.

Beyond financial support, entrepreneurs receiving loans are also paired with dedicated business advisers who guide them through the application process and provide mentoring during the first year after funding.

Participants also gain access to Virgin StartUp’s wider entrepreneurial network, which offers mentoring, peer support, training opportunities and industry events designed to help founders build and scale their businesses.

The programme has also placed a strong emphasis on improving access to entrepreneurship for underrepresented groups. In 2019 Virgin StartUp launched a 50/50 pledge committing to fund equal numbers of male and female founders.

Since that pledge was introduced, women have accounted for 46 per cent of successful funding recipients through the programme. Over the past six months, female founders have made up exactly half of all successful applicants.

Louise McCoy, managing director of Start Up Loans products at the British Business Bank, said the partnership with Virgin StartUp continues to play an important role in supporting the UK’s entrepreneurial ecosystem.

“We are delighted with the success Virgin StartUp continues to achieve as a partner of the Start Up Loans programme,” she said. “Their commitment to supporting an equal number of male and female founders aligns closely with our own objectives.

“Together we are helping thousands of businesses across the UK access the affordable finance they need to start up or grow.”

The new £20 million funding allocation comes at a time when many entrepreneurs face tighter venture capital markets and rising borrowing costs, making government-backed lending schemes an increasingly important source of early-stage finance.

Virgin StartUp said the additional funding would allow it to expand its reach further across the UK, ensuring more founders from diverse backgrounds and communities can access both capital and expert guidance.

Fishburn added that broadening access to entrepreneurship remains central to the organisation’s mission.

“We believe entrepreneurship should be open to everyone with the drive to build something of their own,” he said. “Our goal is to ensure great ideas, wherever they come from, have a genuine opportunity to succeed.”

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Virgin StartUp unveils £20m funding pot for UK founders after passing £100m Start Up Loans milestone

Artificial intelligence could generate more than £105 billion in additional revenue for the UK’s mid-sized companies by the end of the decade, according to new economic modelling that highlights how rapidly AI is reshaping the country’s business landscape.

The research, conducted by the Centre for Economics and Business Research (Cebr) on behalf of HSBC UK, suggests that businesses embedding AI across their operations are beginning to pull away from competitors that are slower to adopt the technology.

Alongside the report, HSBC UK has launched a £5 billion AI & Productivity Financing Initiative aimed at helping businesses invest in the technology, skills and systems required to deploy AI at scale.

The analysis focuses on Britain’s mid-sized businesses, companies with annual revenues between £15 million and £300 million, often described as the “engine room” of the UK economy because of their ability to combine the agility of smaller firms with the investment capacity of larger organisations.

There are around 35,000 such companies operating across the UK. In 2025 they generated 23 per cent more value per employee than the wider economy, highlighting their growing importance as a driver of productivity and growth.

The research indicates that AI is increasingly becoming a dividing line between firms that are accelerating ahead and those at risk of falling behind.

Two years ago, only around 35 per cent of mid-sized companies were using AI in some form. By the end of 2025 that figure had climbed sharply to 55 per cent, reflecting the rapid mainstream adoption of large language models, advanced analytics and workflow automation tools across many industries.

However, the report notes that a clear distinction exists between businesses experimenting with AI and those embedding it deeply within core business functions.

Approximately 24 per cent of mid-sized companies are now classified as “productive adopters”, organisations integrating AI into critical processes such as forecasting, supply chain management, reporting, customer engagement and operational decision-making.

These companies are seeing measurable improvements in both productivity and revenue.

According to the research, firms that integrate AI into their operations experience an average increase of around four per cent in revenue per employee.

For the typical mid-sized business, this could translate into an additional £4.5 million in revenue and roughly £1.3 million in additional economic value within four years compared with companies that have not yet adopted the technology.

If adoption continues at its current pace, the cumulative impact could be significant. The modelling suggests AI-driven productivity gains across the mid-market could add £105 billion in additional revenue and £31 billion in economic output to the UK economy by 2030.

Looking further ahead, the study estimates that AI adoption among mid-sized firms could generate more than £500 billion in additional turnover by 2050, although gains are expected to slow as the technology becomes widely embedded across industries.

James Cundy, managing director and head of corporate and leveraged finance at HSBC UK, said the findings highlight the growing importance of AI investment for business competitiveness.

“Mid-sized businesses play a central role in UK growth,” he said. “Our findings suggest AI adoption could strengthen one of the economy’s most important growth engines.

“The opportunity is significant, but it requires confidence to invest. Our focus is on supporting businesses as they invest in the technology, skills and innovation that will shape the UK’s next phase of growth.”

Through the new financing initiative, HSBC aims to provide businesses with access to funding on commercial terms to support AI investment across areas including digital infrastructure, data systems, workforce training and automation.

Cundy emphasised that the biggest gains are coming from companies that move beyond experimentation and integrate AI into their decision-making and operational processes.

“The distinction between experimentation and integration is critical,” he said. “Businesses that apply AI to operations, workforce processes and strategic decisions are seeing measurable improvements in productivity and revenue.”

Economists say the research underlines the growing role of technology in shaping productivity outcomes across the UK economy.

Nina Skero, chief executive of the Centre for Economics and Business Research, said the findings suggest the mid-market still has considerable room to benefit from AI-driven productivity improvements.

“Our research shows AI is already beginning to influence productivity outcomes among mid-sized firms in a meaningful way,” she said.

“However, productive adopters remain a minority within the mid-market. That indicates there is still significant headroom for growth. If more companies move from early adoption to deeper integration, the combined impact on UK productivity and national output could be substantial by the end of the decade.”

The report concludes that the pace at which companies move from experimentation to full integration will ultimately determine how much of the potential £105 billion opportunity is realised.

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AI adoption could unlock £105bn revenue boost for UK mid-sized firms by 2030

London-based biotechnology startup Ternary Therapeutics has secured £3.6 million in seed funding to accelerate the development of its artificial intelligence-driven platform designed to engineer a new class of medicines known as molecular glues.

The funding round was led by European venture capital firm daphni, with participation from Pace Ventures, i&i Biotech Fund and the UK Innovation & Science Seed Fund, which is managed by Future Planet Capital. The investment will support the expansion of Ternary’s AI platform, its research team and its early drug development programmes.

Founded in November 2024 and headquartered in London, Ternary Therapeutics is developing a technology platform that combines machine learning, physics-based molecular modelling and rapid laboratory validation to design molecular glues — a promising but still emerging category of drugs that can target proteins previously considered undruggable.

Unlike traditional medicines, which typically work by binding directly to a target protein and inhibiting its function, molecular glues operate by bringing two proteins together to trigger the destruction or modification of disease-causing proteins. This mechanism has become one of the most exciting areas of drug discovery in recent years, particularly in fields such as cancer, autoimmune disorders and neurological diseases.

However, most molecular glues discovered to date have emerged largely by accident during broader drug discovery programmes rather than through deliberate design. Ternary aims to change that dynamic by applying computational methods and artificial intelligence to turn molecular glue discovery into a systematic engineering process.

The company’s platform uses AI models to predict how proteins behave within the body and identify potential molecules capable of binding them together. These candidate molecules are then tested experimentally in the laboratory, with the results fed back into the system to improve the predictive accuracy of the models.

By repeating this cycle of computational prediction and experimental validation, Ternary hopes to dramatically accelerate the discovery of new medicines and open up drug targets that have historically been inaccessible to conventional pharmaceutical approaches.

Dr Chris Tame, co-founder and chief executive of Ternary Therapeutics, said the company’s goal is to transform molecular glue discovery from a matter of luck into a scalable design discipline.

“Molecular glues have delivered some of the most exciting breakthroughs in drug discovery over the past decade, but historically they’ve been discovered largely by chance rather than through a systematic process,” he said.

“Our platform is designed to change that by combining physics-informed AI with rapid experimental validation to engineer these molecules intentionally and at scale. That allows us to approach drug discovery more like an engineering problem than a process of trial and error.”

Tame said the new capital would allow the company to expand its computational infrastructure, grow its scientific team and advance its most promising programmes towards preclinical development, while also laying the groundwork for partnerships with global pharmaceutical companies.

The company has already developed an early pipeline of programmes focused on inflammatory and neuroinflammatory diseases and has established research collaborations with several biotechnology and pharmaceutical partners.

Investors believe the technology could help unlock a significant new frontier in drug discovery.

Cristian Pinto, investor at daphni, said designing molecular glues predictably represents one of the most complex scientific challenges in modern medicine.

“Ternary has built a disciplined platform that integrates machine learning, physics and experimental biology to tackle that challenge,” he said.

The investment also reflects growing momentum across the biotechnology sector around targeted protein degradation, an approach that seeks to eliminate disease-causing proteins rather than simply blocking their activity.

Oliver Sexton, investment director at the UK Innovation & Science Seed Fund, said advances in artificial intelligence and computational power are enabling researchers to understand biological systems with far greater precision than ever before.

“Ternary’s approach to drug design is enabled by its compute power,” he said. “The combination of expanding knowledge of biology and recent developments in AI allows it to understand massive complexity and generate molecular glue drug candidates that target areas historically considered out of reach.”

A large proportion of proteins involved in human disease lack obvious drug-binding sites, limiting the effectiveness of traditional drug design approaches. Molecular glues offer an alternative route by creating entirely new interactions between proteins inside cells.

If platforms like Ternary’s succeed in designing these interactions reliably, they could significantly expand the number of treatable diseases and unlock major new opportunities for collaboration between biotechnology startups and large pharmaceutical companies.

The investment in Ternary comes amid rising global interest in AI-driven drug discovery, as advances in machine learning and structural biology reshape the economics and speed of pharmaceutical research.

With fresh capital now secured, the company plans to accelerate development of its platform while advancing its first therapeutic candidates toward clinical readiness.

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UK biotech Ternary raises £3.6m to scale AI platform for next-generation drugs

Thousands of British expatriates fleeing the escalating conflict in the Middle East are urging the UK government to clarify whether they could face unexpected tax bills after returning to Britain earlier than planned.

Tax specialists warn that some of the roughly 160,000 British nationals living across the region, including many based in Dubai, may inadvertently breach the UK’s tax residency rules if their emergency return pushes them over the 183-day threshold spent in the country during the current financial year.

The UK tax year ends on April 5, meaning the timing of the crisis could have significant financial consequences for expatriates who were already close to the residency limit before the conflict intensified.

Under the UK’s statutory residence test, individuals who spend 183 days or more in Britain within a tax year are generally considered UK tax residents. If that threshold is crossed, global income, including earnings generated overseas, may become liable for UK taxation.

For many British expatriates who relocated to the United Arab Emirates specifically to benefit from its largely tax-free regime, such a change in residency status could create a substantial and unexpected tax liability.

The concern has been amplified by the sudden deterioration of the security situation across parts of the Gulf following US-Israeli attacks on Iran and retaliatory strikes by Iranian forces. Drone attacks have reportedly targeted infrastructure in the UAE, including areas of Dubai, prompting some expatriates to temporarily return to Britain with their families.

Sandra Jeevan, a partner at accountancy firm UHY Hacker Young, said the situation has created significant anxiety for expatriate families who left the region primarily for safety reasons.

“We are hearing from many families who never intended to return to the UK this year but now have had no choice,” she said. “They could face exposure to UK tax simply because their emergency return alters their UK residence position.

“When you are trying to move your family to safety, you are not focused on day-count rules or technical residence tests.”

The UK’s tax rules do allow limited flexibility in certain circumstances. HM Revenue & Customs permits individuals to disregard up to 60 days spent in the UK if those days arise due to “exceptional circumstances” beyond their control.

Events such as war, civil unrest, natural disasters or sudden travel restrictions can potentially qualify under this provision. However, tax advisers warn that the exemption is narrow and subject to strict interpretation.

For example, HMRC guidance states that remaining in the UK for personal reasons after the immediate crisis has passed, such as staying with family or delaying a return abroad, may not be treated as an exceptional circumstance.

This creates uncertainty for expatriates who may initially return for safety but remain in Britain for several weeks while assessing the evolving situation in the region.

Nimesh Shah, chief executive of advisory firm Blick Rothenberg, said the number of enquiries from UAE-based expatriates has risen sharply in recent weeks.

“I’ve had a disproportionate number of calls from people wanting to leave the UAE,” he said. “But I’ve advised them not to rely too heavily on the exceptional circumstances provisions.

“HMRC is likely to take the view that people chose to move abroad primarily to benefit from a low-tax environment. It may therefore be reluctant to allow extended periods back in the UK without triggering residency consequences.”

As a result, some expatriates are reportedly considering temporary relocation to other countries rather than returning directly to Britain. Countries such as Ireland or France are being explored as short-term alternatives that would allow individuals to remain outside the UK long enough to avoid breaching the 183-day rule.

The issue highlights the complex interaction between international mobility and tax residency rules at times of geopolitical crisis.

While the UAE has become a major destination for British professionals over the past decade, particularly in sectors such as finance, property and technology, the region’s exposure to geopolitical tensions means that sudden relocations can quickly create tax complications.

A spokesperson for HM Revenue & Customs said the existing framework already provides protections for individuals caught up in extraordinary situations.

“The existing rules provide the right protection while following the basic principle that individuals living in the UK should pay tax in the UK,” the spokesperson said.

“Exceptional circumstances, such as being affected by a war, are taken into account.”

However, advisers say greater clarity from the government would help provide reassurance to expatriates making urgent decisions about their safety.

With the end of the tax year approaching rapidly, many affected individuals are now seeking urgent professional advice to assess their residency status and determine whether emergency travel could leave them facing a significant UK tax liability.

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British expats fleeing Middle East conflict fear unexpected UK tax bills

Britain’s largest car park operator, National Car Parks (NCP), has taken the first formal step toward administration, putting more than 1,000 jobs at risk and raising fresh questions about the future of hundreds of parking facilities across the UK.

Documents lodged at the High Court in London show that the company has filed a notice of intention to appoint administrators. The filing, made at 10.01am, provides the business with temporary legal protection from creditor actions while it attempts to stabilise its financial position or explore restructuring options.

The move signals deep financial strain at a company that operates more than 800 parking sites nationwide, serving millions of drivers each year and working with a range of private landowners, councils and commercial clients.

An intention to appoint administrators is typically used by businesses facing mounting financial pressure, granting them a short window, usually around ten days, to negotiate with lenders, explore refinancing options or prepare for a formal administration process.

If the company ultimately enters administration, the outcome could threaten the future of more than 1,000 jobs across its operations and potentially disrupt services at hundreds of car parks across the country.

The development is likely to send shockwaves through local authorities and commercial partners that rely on the operator to manage public and private parking facilities.

Financial pressures have been mounting in recent years. Accounts show the company generated revenues of £187 million in the financial year ending 2023, representing a decline of more than 7 per cent compared with the previous year.

The company has also faced public scrutiny and criticism over its parking enforcement practices. Private parking operators across the UK have dramatically increased the number of penalty notices issued to motorists, with figures showing that drivers are now receiving nearly 40,000 parking charges a day.

Data from the Driver and Vehicle Licensing Agency (DVLA) revealed that private parking firms requested vehicle ownership details a record 14.37 million times during the 2024–25 financial year. That equates to an average of around 39,375 requests per day, allowing companies to issue parking charge notices of up to £100 for alleged violations such as overstaying time limits.

Parking operators must obtain vehicle ownership information from the DVLA in order to send fines by post, paying £2.50 per request for access to the database.

NCP itself has faced several high-profile controversies relating to fines in recent years. In February last year the company apologised after incorrectly issuing a £100 penalty to a grandfather who had parked for just 14 minutes in a car park in Darlington, County Durham, despite signage stating that customers were entitled to 90 minutes of free parking. The fine was later cancelled.

The company has also faced financial disputes with local authorities. In 2024, Bolton Council wrote off nearly £1.5 million in debts owed by the firm dating back to the pandemic period.

Legal representatives from the law firm Reynolds Porter Chamberlain, which is acting for the company, said a statement would be issued later regarding the situation.

Industry observers say the potential collapse of such a large operator reflects broader challenges in the parking sector, including rising operational costs, tighter regulation and increasing scrutiny of private parking enforcement.

For motorists, private parking charges have become increasingly common across locations such as supermarkets, shopping centres, business parks, motorway service areas and restaurant sites.

While the notice filed in court does not guarantee that the company will enter administration, it indicates that its financial position has become severe enough to require urgent restructuring discussions.

If a rescue deal cannot be secured during the protection period, administrators could be formally appointed within days, placing the future of Britain’s largest car park operator in doubt.

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NCP faces administration as Britain’s largest car park operator files court notice

The UK automotive sector is facing the most severe skills shortage of any industry in the country, with more than nine in ten employers struggling to recruit the specialist talent they need, according to new research.

Data from ManpowerGroup’s 2026 Talent Shortage Survey shows that 92 per cent of UK automotive employers report difficulty filling roles, making it the hardest-hit sector for recruitment in the country. The figure sits almost 20 percentage points above the national average, where 73 per cent of employers say they are unable to find suitable candidates.

The findings highlight growing strain within the automotive industry as the sector undergoes one of the most significant technological transformations in its history. Electrification, advanced vehicle software, and new manufacturing technologies are reshaping the types of skills companies require, but the supply of qualified workers is struggling to keep pace with demand.

Engineering skills remain the most difficult capability for employers to source, with 46 per cent of automotive businesses reporting a shortage in this area. Manufacturing and production roles follow closely behind, with 25 per cent of employers saying they are struggling to recruit workers with the required technical experience.

The shortage is particularly acute in regions traditionally associated with automotive manufacturing. The West Midlands, widely regarded as the historic centre of the UK automotive industry, is experiencing especially intense competition for engineering and technical talent. Manufacturers, suppliers and emerging electric vehicle companies across the region are increasingly competing for the same limited pool of skilled specialists.

The recruitment pressures come at a time when the sector is also grappling with declining production levels. UK vehicle manufacturing fell to its lowest level in more than seven decades in 2025, with output dropping to levels not seen since 1952. The combination of falling production and rising technological complexity is placing further pressure on companies already struggling to adapt to structural changes in the global automotive market.

Industry leaders warn that the shortage of skilled workers could slow the UK’s transition toward electrified and software-driven vehicles if urgent steps are not taken to expand the talent pipeline.

Michael Stull, managing director of ManpowerGroup UK, said the findings reveal a growing mismatch between the capabilities employers need and the skills currently available in the labour market.

“Automotive businesses are telling us they simply cannot get the skills they need,” he said. “Engineering talent in particular is in critically short supply. As the sector accelerates towards electrification and more technology-driven roles, the demand for new capabilities is growing much faster than the available talent.”

He added that solving the shortage will require long-term investment in workforce development rather than short-term recruitment strategies.

“Employers will only overcome these pressures by investing in upskilling programmes and working closely with schools, colleges and training providers to widen access to future-focused skills,” Stull said.

The shift toward electric vehicles and connected car technologies is creating new categories of roles across the industry, including software engineering, battery technology, data analysis and advanced manufacturing engineering. Many of these skills have historically been associated more closely with the technology sector than with traditional automotive manufacturing.

As a result, carmakers and suppliers are increasingly competing with technology companies for the same engineers and digital specialists.

Analysts say the growing skills gap underscores the importance of expanding technical education pathways and modern apprenticeships to ensure the UK automotive industry can remain competitive in the global transition to electric mobility.

Without a significant expansion of the talent pipeline, the sector risks facing prolonged recruitment challenges that could constrain investment, innovation and production capacity in the years ahead.

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Automotive skills shortage reaches critical levels as 92% of UK employers struggle to recruit

Tax investigations by HM Revenue & Customs into the UK’s largest companies are now taking nearly three and a half years to resolve on average, according to new analysis by multinational law firm Pinsent Masons.

The research shows that open tax investigations handled by HMRC’s Large Business Directorate (LBD) last an average of 41 months, roughly three years and five months, although this is slightly faster than the previous year’s average of 45 months.

The number of active cases has also increased, rising from 2,031 investigations to 2,149 over the past year. The rise reflects both HMRC’s efforts to clamp down on tax non-compliance and the significant amount of time required to conclude complex corporate tax enquiries.

HMRC’s Large Business Directorate focuses on the UK’s largest enterprises, roughly 2,000 companies with annual revenues exceeding £200 million. These businesses collectively account for around 40 per cent of all tax collected by the UK government.

With more than 2,100 investigations currently open, the figures suggest that roughly half of Britain’s largest companies are under some form of tax scrutiny at any given time. In many cases, companies may face multiple simultaneous enquiries covering different aspects of their tax affairs.

Jake Landman, partner and head of tax disputes at Pinsent Masons, said the growing number of cases partly reflects HMRC’s push to close the UK’s estimated £47 billion tax gap, the difference between the amount of tax owed and the amount actually collected.

“The increase in open investigations is being driven by HMRC’s increased efforts to tackle the tax gap as well as the time required to complete complex corporate investigations,” he said.

Over the past year alone, HMRC opened 1,879 new investigations into large businesses, an increase of 21.1 per cent, equivalent to 327 additional cases compared with the previous year.

Landman warned that prolonged investigations can place significant operational and financial strain on businesses, particularly during a period of economic uncertainty.

“Having businesses’ tax affairs under investigation for three, four or even five years runs counter to efforts to make the UK a more business-friendly environment,” he said. “Lengthy investigations create additional administrative and financial burdens at a time when business confidence is already fragile.”

Corporate tax disputes can be especially complex, often involving international operations, transfer pricing arrangements, and disputes over the interpretation of evolving tax legislation. These factors frequently contribute to the extended duration of investigations.

However, the data also shows that HMRC has made some progress in clearing its backlog. The tax authority closed 1,761 cases during the past year, up from 1,617 the year before.

That improvement has helped reduce the average investigation duration by four months year-on-year.

“HMRC does deserve credit for reducing the average time it takes to complete investigations,” Landman said. “But the fact remains that some cases remain open for more than four years, which highlights the need for additional resources if the system is to become more efficient.”

The issue has drawn increasing scrutiny from lawmakers. The Public Accounts Committee is currently conducting an inquiry into HMRC’s approach to tax compliance among large businesses.

The parliamentary investigation is examining how effectively HMRC ensures that multinational companies and major UK corporations pay the correct amount of tax, as well as whether the current investigative process strikes the right balance between enforcement and maintaining a competitive business environment.

In its call for evidence, the committee has asked businesses, advisers and experts to provide insights into how HMRC handles tax disputes with large corporations and whether improvements are needed to reduce delays and increase transparency.

The inquiry forms part of a wider debate about the UK’s tax enforcement system, particularly at a time when government finances remain under pressure and policymakers are seeking ways to improve compliance while maintaining the country’s attractiveness to global investors.

For many large businesses, the findings highlight the growing complexity of the UK tax landscape and the increasing importance of robust tax governance and compliance frameworks as scrutiny from regulators intensifies.

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HMRC investigations into big businesses now last nearly three and a half years on average

Maven Capital Partners has completed a £15 million investment in digital investigations specialist Chorus Intelligence, backing the fast-growing software firm as it expands its AI-powered platform and accelerates international growth.

The deal, led by Maven’s UK Regional Buyout Fund II, will support the next phase of development for Chorus, whose technology is increasingly used by law enforcement agencies, government bodies and corporate organisations to investigate complex digital crime.

Founded in 2011, Chorus has spent more than a decade developing specialist software that helps investigators analyse large volumes of digital information. Its tools are designed to connect multiple data sources, uncover relationships between suspects and criminal networks, and streamline the investigation process in an era where digital evidence has become central to modern policing and corporate security.

Central to the company’s growth strategy is its Chorus Intelligence Suite (CIS), a next-generation platform that allows multiple investigators to collaborate while analysing complex datasets. The system automates the processing of structured and unstructured information, enabling users to connect disparate data points, identify patterns more quickly and generate stronger evidential outputs.

The platform has gained traction in both the UK and US markets, where law enforcement and security organisations are increasingly seeking advanced analytical tools to combat the rise in digital crime.

According to the company, CIS delivers measurable efficiency gains for its clients by significantly reducing the time required to process large datasets and uncover connections between individuals, events and digital evidence.

The £15 million investment will allow Chorus to further enhance the technology behind the platform, including expanding its artificial intelligence capabilities and integrating additional automation features designed to improve investigative efficiency. The funding will also support the company’s international expansion plans and potential acquisitions as it seeks to consolidate a fragmented market for digital investigation tools.

Tom Purkis, (pictured) partner at Maven Capital Partners, said the investment reflected strong demand for digital intelligence tools across the security and law enforcement sectors.

“Chorus is a fast-growing business operating in a market experiencing strong structural growth,” he said. “Digital intelligence is becoming an essential component of modern investigations.

“The company has invested heavily in technology and its next-generation platform is already delivering measurable efficiency gains and return on investment for customers in both the UK and US. We are delighted to support the team as they continue to scale the business and expand its international presence.”

Boyd Mulvey, founder and executive chairman of Chorus Intelligence, said the investment marks a significant milestone for the company as it prepares to accelerate product development and global expansion.

“The entire Chorus team are delighted to welcome Maven,” he said. “This investment marks an important step in our journey as we enter the next phase of growth.

“The expertise Maven brings in scaling high-growth technology companies will be invaluable as we accelerate our AI product roadmap, expand our global footprint and continue delivering exceptional value to our customers.”

The deal also reflects broader trends across the security and intelligence sector, where increasing volumes of digital data and the growing sophistication of cyber and organised crime are driving demand for advanced investigative technology.

Maven Capital Partners is one of the UK’s most active private equity investors, typically investing between £10 million and £20 million in high-growth businesses. Its buyout team has completed 38 platform acquisitions and 26 exits to date, delivering an average return of around three times the original investment.

With digital crime continuing to rise and investigative workloads becoming increasingly complex, the market for AI-powered investigative platforms is expected to grow significantly in the coming years. Maven’s backing positions Chorus Intelligence to scale its technology and compete globally in a sector where data analysis and digital evidence are rapidly becoming the backbone of modern investigations.

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Maven backs digital investigations platform Chorus with £15m investment to drive AI expansion

Britain’s manufacturing sector has begun 2026 on a fragile footing, with factories reporting a sharp drop in domestic orders and a surge in operating costs that has forced companies to raise prices at the fastest rate in more than two years.

A new survey from industry body Make UK paints a concerning picture for the sector, warning that demand from UK customers has “collapsed” in the first quarter of the year while confidence among manufacturers has fallen for the third consecutive quarter.

The report highlights mounting pressures facing British factories, including rising energy costs, weak domestic demand and continued uncertainty in global markets. These challenges are now beginning to ripple through production plans, hiring decisions and investment strategies across the industry.

Manufacturers reported that UK orders fell sharply at the start of the year, undermining hopes of a strong rebound following the slowdown seen in late 2025. Although output showed modest improvement compared with the final quarter of last year, the recovery remains fragile and heavily dependent on external conditions.

Fhaheen Khan, senior economist at Make UK, said the sector is navigating a difficult mix of improving output alongside worsening cost pressures and weakening demand.

“While output and investment show some improvement after a challenging end to last year, rising costs and weakening domestic demand are creating real pressures for businesses,” he said. “The outlook for UK manufacturing remains precarious.”

The report also found that firms are increasingly passing higher costs on to customers. A net balance of 31 per cent of manufacturers said they had increased their prices in the first quarter, the highest level recorded since spring 2023.

Energy prices have been a major factor behind the increase in costs. Oil and gas markets have become increasingly volatile following the escalation of conflict in the Middle East, pushing up fuel prices and raising concerns about inflation across advanced economies.

The global benchmark for oil, Brent crude, surged to as high as $118 per barrel last week as tensions intensified in the Gulf and tanker traffic through the strategically important Strait of Hormuz was disrupted. Although prices have since eased, they remain significantly higher than the $60 to $70 range that prevailed before the conflict escalated.

By the end of official trading last week, Brent crude was still priced above $103 per barrel. Oil markets have swung dramatically in recent weeks as traders attempt to gauge the scale and duration of the conflict and whether energy shipments through the Gulf will resume at normal levels.

The shock to global energy markets has already begun to influence economic expectations in the UK. Investors who previously anticipated a series of interest rate cuts this year are now revising their forecasts, believing that higher energy costs could push inflation higher again.

The Bank of England is widely expected to leave its base rate unchanged at 3.75 per cent at its upcoming policy meeting, reversing earlier market expectations that borrowing costs might begin falling this spring.

Rising government borrowing costs also illustrate the shift in sentiment. The yield on the benchmark ten-year UK government bond has climbed to about 4.82 per cent, reflecting investors’ concerns that inflationary pressures may persist for longer than previously expected.

Manufacturers say the combination of weakening demand and rising costs is particularly concerning because it threatens both profitability and investment decisions. Recruitment across the sector has also fallen short of expectations, with many firms choosing to delay hiring as economic uncertainty intensifies.

Although manufacturing represents around 9 per cent of the UK’s gross domestic product, its importance to the wider economy is far greater. The sector accounts for roughly 34 per cent of the country’s exports and nearly half of total research and development spending.

As a result, weakness in manufacturing often signals broader economic challenges ahead.

Recent data from the Office for National Statistics showed that the UK economy stalled in January, recording zero growth for the month. Economists had expected a modest expansion, making the result an early indication that momentum was already fading before global tensions intensified.

Manufacturers say the coming months will be critical in determining whether the sector stabilises or enters a deeper slowdown. Much will depend on energy prices, interest rate expectations and the resilience of export demand.

Some governments have already begun taking action to cushion the impact of higher oil prices. Japan announced plans to release about 80 million barrels of crude from its strategic reserves, roughly 45 days of supply, in an effort to stabilise domestic fuel costs.

For UK manufacturers, however, the immediate outlook remains uncertain. While production levels have improved slightly from the slump seen at the end of last year, companies warn that a sustained rise in energy prices or a prolonged slowdown in domestic demand could quickly derail any recovery.

Industry leaders say the sector now faces a delicate balancing act: maintaining output and investment while navigating an environment of volatile costs, fragile confidence and slowing economic growth.

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UK factories hit by ‘collapse’ in orders as costs surge across manufacturing sector

The UK government is introducing new financial incentives for businesses to hire unemployed young people, offering employers £3,000 for each jobless person aged 18 to 24 they bring into work.

The initiative forms part of a broader effort by ministers to tackle rising youth unemployment, with official figures showing that more than 950,000 people aged between 16 and 24 are currently not in education, employment or training (NEET), roughly one in eight young people across the UK.

Under the new policy, companies will receive the grant when they recruit young people who have been claiming benefits and searching for work for at least six months. The scheme, described by ministers as “youth jobs grants”, is expected to help around 60,000 young people into employment over the next three years, although the government has yet to confirm the full eligibility criteria for businesses wishing to participate.

The announcement comes as the government faces growing pressure to address a worsening employment outlook for younger workers. Analysts and policymakers have warned that youth joblessness risks becoming entrenched if more opportunities are not created in entry-level sectors.

Pat McFadden said the initiative would provide young people with a crucial opportunity to gain workplace experience and begin building careers.

“Young people need a vital first step on the career ladder,” he said, arguing that the increase in youth unemployment reflected long-term structural changes in the economy rather than short-term economic disruption.

According to ministers, industries that traditionally employed large numbers of younger workers, particularly retail and hospitality, have been undergoing major transformations for more than a decade due to automation, online shopping and shifting consumer habits.

As part of the wider package, the government will also expand an existing employment support scheme later this year. That programme currently subsidises six-month jobs for people who have been unemployed for at least 18 months, paying employers the equivalent of the national minimum wage for the role.

At present the programme is restricted to younger claimants, but from the autumn it will be widened to include jobseekers aged up to 24 rather than the current limit of 21.

Ministers are also extending so-called foundation apprenticeships, entry-level training roles designed to help young people develop workplace skills. Employers taking on foundation apprentices currently receive up to £2,000 in instalments, and from April the scheme will expand into sectors such as hospitality and retail.

Together, the measures represent a shift in government employment support towards a slightly older cohort of young people than previously targeted.

The plan also sits alongside existing tax incentives for hiring younger workers. Employers are not required to pay National Insurance contributions on employees under the age of 21 unless they earn more than £50,270 a year.

However, the government’s broader employment policies have faced criticism from business groups and opposition politicians, particularly following last year’s increase in employer National Insurance contributions. Critics argue that higher employment taxes could discourage hiring at precisely the moment the government is trying to stimulate job creation.

Despite those concerns, ministers say the new grant scheme will reduce risk for businesses considering taking on younger workers, particularly those who have struggled to secure employment after leaving education.

Meanwhile, a wider government review into youth unemployment is underway, led by former Labour minister Alan Milburn. The review will examine the causes of rising economic inactivity among younger people and recommend further policy changes to improve access to jobs and training.

Its conclusions are expected to be published later this year.

The government is also considering adjustments to future wage policy after some employers warned that plans to equalise the minimum wage across age groups could make it more expensive to hire younger workers. Officials have indicated that while the timetable for implementing equal wages may be reconsidered, the policy itself is unlikely to be abandoned entirely.

With youth unemployment now at its highest level in more than a decade, ministers say the priority is ensuring young people can access their first job and gain the experience needed to progress in the labour market.

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Government offers £3,000 incentive for firms to hire unemployed young people