Business

Millions of consumers will be offered free, tailored financial support from banks and pension providers under sweeping new proposals from the City regulator, in a bid to steer people away from risky online advice and poor money decisions.

The Financial Conduct Authority (FCA) has unveiling plans to overhaul long-standing restrictions that prevent firms from offering personalised financial suggestions unless they conduct full individual assessments — a costly and time-consuming process that leaves most consumers unable to access formal advice.

Under the new “targeted support” regime, firms would be permitted to send “ready-made suggestions” to customers to help them navigate complex financial decisions — from investing cash savings in the stock market to avoiding early depletion of pension pots.

The FCA estimates that only 9 per cent of UK adults currently access conventional financial advice, leaving the vast majority to manage investments and savings without expert guidance. Regulators hope the reforms, which are open for consultation until August, will plug this growing advice gap and stop savers turning to unregulated sources, including social media influencers and AI chatbots.

Sarah Pritchard, executive director at the FCA, described the changes as “once-in-a-generation reforms that will help people navigate their financial lives and give them greater confidence to invest”. She said the proposals represent a “win-win for consumers and firms alike”.

The move comes amid growing concern over the seven million people who hold over £10,000 in cash savings but have not moved into investment markets, potentially missing out on higher returns. Under the new rules, banks and insurers could send prompts encouraging such customers to consider stocks and funds, providing clickable routes to take action.

Financial firms could also give guidance on major retirement decisions, such as whether to choose an annuity or drawdown option. While these are currently considered areas of regulated advice, the new framework would allow companies to offer nudges and suggestions, stopping short of full personalised recommendations.

The cost of full financial advice has long excluded all but the wealthiest. With advisers typically charging 1 to 3 per cent upfront and annual fees of around 2 per cent, access is generally limited to those with more than £200,000 in liquid assets.

Consumer groups have cautiously welcomed the move but warned of potential risks. Holly Mackay, chief executive of financial data platform Boring Money, described the proposals as “highly positive”, estimating that 5.9 million people could benefit. However, she added: “There is a danger that banks see targeted support as meaning targeted sales.”

James Carter, head of platform policy at Fidelity International, said that many savers are already turning to unregulated sources like TikTok influencers or generative AI for advice. “That could result in poor financial decisions. I’m beginning to hear more stories of people using ChatGPT to make conclusive decisions about their financial futures,” he said.

The Association of British Insurers also welcomed the move. Yvonne Braun, its director of long-term savings policy, said: “We know facing complex financial decisions can feel overwhelming, especially in retirement. The FCA’s decision to press ahead with this crucial proposal is very welcome and should be a relief to millions of savers.”

The FCA’s consultation will close on August 29, with a final policy statement due by December. Subject to approval, the first targeted support messages could start reaching consumers as early as April next year.

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FCA to allow millions free financial support in major policy shift

A proposed new law could dramatically reshape how UK businesses operate, by requiring company directors to consider the impact of their decisions on people and the planet, not just shareholders.

The Company Directors (Duties) Bill, tabled in Parliament today by Liberal Democrat MP Martin Wrigley, seeks to amend Section 172 of the Companies Act 2006 to ensure directors balance the duty to promote their company’s success with new duties to protect the environment and safeguard employees.

Currently, UK company law compels directors to act in a way that promotes the success of the business “for the benefit of its members as a whole” — meaning shareholders. Critics argue this short-term focus has contributed to scandals such as widespread environmental failings in the water sector.

Under the new proposals, businesses would be required to embed a stakeholder-led model into their decision-making, taking into account the interests of employees, customers, communities and the natural environment. Directors would also need to report annually on how they have upheld these responsibilities.

The Bill, set to be debated in the House of Commons on Friday 4 July, already enjoys cross-party support from MPs representing four different political parties.

The move is inspired by the Better Business Act campaign, led by non-profit B Lab UK — the organisation behind the B Corp movement — and supported by over 3,000 UK businesses across 15 industries. Supporters include Virgin Group, Iceland, Tony’s Chocolonely, Danone, Charlie Bigham’s, ELEMIS and Gü, alongside the Institute of Directors and ShareAction.

Supporters argue that putting purpose at the heart of business isn’t just good for society — it makes economic sense. Recent data from B Lab UK shows B Corps outperformed traditional businesses, growing their turnover by 23.2%between 2023 and 2024, compared with a national average of 16.8%. B Corps also added jobs while wider employment numbers fell.

Meanwhile, a Demos report commissioned by the Better Business Act coalition found that embracing a purpose-led economy could boost the UK’s GDP by £149 billion annually.

Chris Turner, CEO of B Lab UK, called the Bill a “major step forward” and said the time had come for UK corporate governance to reflect the realities of doing business in the 21st century. “With cross-party political momentum and support from thousands of businesses, the evidence is clear: when companies are empowered to put people and planet alongside profit, they thrive. It’s time for this to be the legal norm, not the exception,” he said.

Martin Wrigley MP, who introduced the Bill, said the proposals would “drastically shake up how companies operate.” adding: “Parliament must act to ensure companies can pursue long-term success while making a positive impact on society and the environment,” he said. “This is a huge opportunity for the UK to lead the world in responsible capitalism.”

The legislation follows Better Business Day, held in Parliament last month, which saw business leaders and politicians gather to support purpose-led business. Speaking at the event, Labour peer Lord Leong praised the ambitions of purpose-driven businesses and said the Government backed the goal of making the UK “the most trusted, forward-looking business community in the world.”

The Bill is scheduled for second reading in the House of Commons on 4 July 2025. If passed, it could fundamentally redefine corporate responsibility in the UK — and place the country at the forefront of the global movement to modernise capitalism.

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UK businesses could be legally required to prioritise people and planet alongside profit under new law proposals

Tom Hartley Jnr has been appointed to sell one of the most extraordinary McLaren road car collections ever assembled — the personal legacy of the late Mansour Ojjeh, the visionary who helped transform McLaren into a motorsport and automotive powerhouse.

Fresh off the record-breaking sale of Bernie Ecclestone’s Grand Prix collection, Hartley has been entrusted by the Ojjeh family to handle the sale of 20 ultra-rare McLaren road cars, many of which are the final production examples of their kind, finished to Ojjeh’s precise specifications and preserved in as-new condition.

The crown jewel of the “Last of Legends” collection is the final McLaren F1 ever built, painted in the bespoke ‘Mansour Orange’ — a colour named in his honour by McLaren. With just 1,810km on the clock, it is expected to set a new world record for the model when sold.

Other highlights include the Speedtail, P1, Senna, Elva, and the ultra-exclusive Sabre — the last of just 16 made. Except for the F1 and a lightly driven P1 GTR, all cars remain unused since delivery and have been maintained exclusively by McLaren under a unique programme designed specifically for Ojjeh.

Mansour Ojjeh, who passed away in 2021, was instrumental in McLaren’s rise, helping secure seven Constructors’ and ten Drivers’ Championships in Formula 1 and later spearheading the birth of McLaren Automotive. This personal collection reflects not just his influence over the brand, but his fastidious passion for design, detail and motorsport heritage.

Kathy Ojjeh, Mansour’s widow, described the sale as deeply emotional: “McLaren meant so much to Mansour. It was more than business — it was pure passion. These cars were handpicked and curated by him, often involving hours of design and personal input. While parting with them is not easy, it’s time for this treasure to be passed on to someone who truly understands its significance.”

Hartley, one of the world’s most respected historic and performance car dealers, called the sale “unrepeatable”. “This is McLaren’s DNA in physical form,” he said. “To be asked to handle the sale is akin to selling Enzo Ferrari’s personal cars or Ferdinand Porsche’s own collection.”

Each model in the collection was ordered with the final chassis number and every available production update — making them the most refined versions ever built. Several also feature unique flourishes, like the Elva, delivered after Ojjeh’s passing, which was adorned with his personal emblem in place of McLaren’s traditional badging.

Zak Brown, CEO of McLaren Racing, paid tribute: “Mansour was a founding father of McLaren as we know it today. His passion was unmatched, and this collection is unlike anything else.”

The cars will be offered exclusively by Tom Hartley Jnr, with the hope that a single buyer may acquire the full set to preserve its provenance and significance.

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Mansour Ojjeh’s legendary McLaren collection to be sold by Tom Hartley Jnr

Only the management of the healthcare business is not responsible for maintaining HIPAA compliance. Staff, stakeholders, business associates, and other elements can also prevent or cause violations.

Employees not only need to have required training, but they also need to implement those concepts in real-life situations.

Most HIPAA compliance violations are triggered by employees and staff members. In a busy environment, they tend to ignore SOPs for safely handling the PHI. Data and information records of patients are confidential, and a little mistake by the relevant handler can open doors for hackers and unauthorized individuals.

Role of Employees in Maintaining Compliance

Healthcare organizations are responsible not only for delivering care but also for protecting the sensitive information of their patients. The Health Insurance Portability and Accountability Act (HIPAA) sets the national standard for the security and privacy of protected health information (PHI).

Do your employees fully understand the concept of Protected Health Information (PHI)? In certain circumstances, PHI can be disclosed to authorized parties and business associates. Have you trained them to maintain the safety of data for these collaborative efforts?

HIPAA Training for Staff

Digitization of health records and other aspects of communication has made electronic devices crucial for carrying out daily tasks. Healthcare technologies and communication devices require adequate training for safe application. Professional training sessions and testing efforts ensure that staff members are fully equipped with the right skills and knowledge to prevent violations.

Without professional training and testing, you cannot expect your staff to strengthen HIPAA compliance. ComplianceJunction provides the best HIPAA training available for employees and other staff members of all levels. Not having the required learning environment for the employees can lead to serious legal troubles and penalties.

Staff should remain vigilant because they are the key players in maintaining compliance and strengthening the security of the organization. Data is the new currency in the modern age and a simple data breach can put an entire organization and stakeholders at risk.

Positive Approach to Prevent Noncompliant Behavior

HIPAA compliance officers always try to prevent violations of HIPAA and maintain a safe environment for handling patient records. There are different technological approaches and solutions implemented in the healthcare business to deter staff from violating the rules. However, the approach to control noncompliant behavior should not negatively impact the morale of employees.

A more positive approach not only motivates staff to strengthen HIPAA compliance and security but also develops a culture of respect. Improper disclosure and use of PHI is the biggest issue related to HIPAA compliance. Nurses, staff, and other employees are not going to learn these SOPs on their own.

Staff compliance training should meet industry standards—accreditation helps ensure that. These impermissible disclosures of Protected Health Information happen because employees fail to understand the concept of what’s included in PHI.

How Staff Can Strengthen HIPAA Compliance and PHI Security

Doctors are not the only employees having access to PHI and other records. From nurses to administrative teams, every employee under the banner of an organization adds value to the compliance posture. A single mistake, such as discussing patient information in a public area or clicking on a phishing link, can result in serious breaches, legal consequences, and loss of patient trust.

When trust is broken, it is the first step towards the failure of a healthcare business. Regular training sessions for the employees cost less than usual fines for HIPAA violations. HIPAA compliance classes ensure that your employees have the required tools and knowledge to properly handle the data of patients.

Comprehensive HIPAA Training

The bedrock of staff-driven HIPAA compliance is thorough and ongoing training. It’s not enough to simply provide a one-time overview. Continuous education is essential to keep pace with regulatory updates and emerging threats. DIY sessions only provide an overview of what employees should do in certain situations. Important concepts like:

HIPAA Privacy Rule
Security Rule
Breach Notification Rule

Remain undiscussed due to lack of supervision of the trained professionals. These rules help staff members understand what PHI is and how to handle this information. If something goes wrong, who must be informed? A training session by a relevant service provider can help build a safer environment for the patients in your organization.

High-quality HIPAA training should also be role-specific. For example, the job descriptions of IT professionals differ from those of clinical staff or front-office workers. Tailoring the training to fit job responsibilities ensures that employees understand how HIPAA applies to their unique functions.

Can you achieve this level of training without the help of experts? Getting your employees in training sessions is not easy and professional HIPAA trainers have the right tools and strategies to conduct these sessions.

Security-first Culture in the Organization

HIPAA compliance is not just checking items on a list, but it is a continued commitment. Security-first culture should be reflected in every part of daily operations. Leadership should not only promote this culture, but their own actions should reflect their personal commitment to the cause. Even if something goes wrong or someone is committing any type of misconduct, employees should be comfortable reporting the incident to upper management.

Regular security updates and lessons need to be shared with the employees. In the overall process of maintaining HIPAA compliance, effective communication is the most important part. Every employee is an active participant in the play and his role is important, ensuring the success of the whole organization.

Steps to Empower Staff in Healthcare Business

Training sessions will not have a significant impact if employees are not willing to be personally involved in the process. Testing ensures learners engage with HIPAA training and earn a certificate. These certificates get freshers and existing employees job-ready for better positions in the organization. Here are some practical steps that can help staff improve the compliance posture of a healthcare provider.

1.   Safely Storing Physical Files

Almost every business has moved to online platforms and tools, but hard copies remain an important part of the business. Strict handling of the physical files is also important to prevent possible violations of HIPAA. Staff must be trained in secure disposal methods (shredding). They should also ensure proper storage in locked cabinets and avoid leaving physical PHI unattended in public areas.

2.   Following the Access Controls

The minimum necessary access principle can save the organization and employees from potential troubles. This principle requires individuals to access extremely necessary information only. This way, the chances of data breach remain minimal, and business operates as usual. Accessing important information or browsing through random files out of curiosity can lead to potential HIPAA compliance violations.

3.   Network and Device Security

Unsecured networks and personal devices at the workplace can lead to data breaches. Organizations have strict security protocols for the official devices. When employees access or view important data on their personal mobile devices, it can be a security hazard. Employees should be trained in data encryption and establishing secure connections to view and access PHI remotely.

4.   Multi-factor Authentication and Strong Passwords

The human element is often the weakest link in cybersecurity. Everyone can make mistakes but there should be some system in place to prevent the damage caused by these mistakes. If someone has access to your password, there should be 2FA in place. Receiving an OTP or security token for any login attempt can keep your data safe against unauthorized access to any account.

5.   Incident Reporting

Every employee must know the clear protocol for reporting a potential security incident or breach. Even if the issue seems negligible and small, it must be reported. These little issues lead to full-scale data breaches in different healthcare settings. Timely reporting allows organizations to investigate, mitigate damage, and comply with breach notification requirements.

Who Needs HIPAA Compliance Training- Final Words

Covered entities, and business associates including health plans, healthcare clearinghouses, and healthcare providers, those who handle PHI and other elements of business operations need HIPAA training. 88% of the data breaches in the medical sector are caused by poor handling of PHI by employees. HIPAA training can potentially prevent these issues that might impact your business.

A well-informed and security-conscious workforce is the most potent asset in safeguarding patient privacy and maintaining trust in the healthcare system. Professional trainers are empowering healthcare teams to protect patient privacy with confidence and competence.

HIPAA training is not just a formality to add fancy certification but it benefits patients and healthcare providers. Without properly trained staff, you are inviting financial, legal, and other penalties. Once training is complete, include quizzes and certificates to confirm HIPAA training effectiveness. Without testing the real-time readiness of your staff, you may prevent violations, but it will not improve the trust between healthcare providers and patients.

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How Staff Can Strengthen HIPAA Compliance and Security

Supermarkets and food manufacturers in England will be expected to help tackle rising obesity rates by making it easier for customers to choose healthier food, under a new government initiative announced today.

Ministers have confirmed a partnership with major food retailers to improve the health of the nation through measures that could include promotions on healthy items, changes to shop layouts, tweaks to loyalty schemes, and product reformulation. While the precise steps will be left to individual retailers, the aim is to make healthy eating more accessible and affordable, particularly for families in lower-income areas.

Under the new strategy, large retailers will be required to report on the proportion of their sales that come from healthy food, with targets agreed in collaboration with the government. The move is designed to boost transparency and accountability across the sector.

The policy will form part of the NHS’s forthcoming 10-year plan for England, due to be published next week, and is seen as a key measure to reduce pressure on the health service.

“Unless we curb the rising tide of cost and demand, the NHS risks becoming unsustainable,” said Health Secretary Wes Streeting. “This government’s ambition for kids today is for them to be part of the healthiest generation of children ever. That is within our grasp.”

The intervention comes as new figures reveal that over one in five children in England are living with obesity by the time they leave primary school—rising to nearly one in three in the most deprived communities.

While health campaigners have welcomed the renewed focus, they have warned that success depends on action across the entire food industry. Andrew Opie, Director of Food and Sustainability at the British Retail Consortium, said the government’s flexible approach is “really positive” but stressed that “all food businesses” must be engaged.

“We consume around a quarter of our calories outside the home,” Opie said. “Unless we get supermarkets, food retailers, and restaurants on board, we won’t move the dial on obesity.”

He added that retailers are well placed to take action, given their detailed insights into consumer behaviour and preferences.

Katharine Jenner, Director of the Obesity Health Alliance, said it was right that the government was focusing on structural change rather than placing the burden on individuals. “The government has rightly identified the root cause of obesity-related ill health: a food system that makes healthy eating difficult,” she said.

The new strategy also includes:

Shopping incentives via a new app offering vouchers for healthy eating and physical activity

Expanded NHS support, with a doubling of spaces on the Digital Weight Management Programme

Tighter advertising restrictions on alcohol, bringing them in line with rules on junk food promotion

The government cited research showing that reducing calorie consumption by just 50 calories a day could prevent obesity in two million adults and 340,000 children. Cutting just 216 calories a day—the equivalent of a bottle of fizzy drink—could halve the UK’s obesity rate.

However, past attempts at voluntary reformulation have yielded mixed results. A 2015 target to reduce sugar in food by 20% by 2020 fell significantly short.

Sarah Woolnough, Chief Executive of The King’s Fund think tank, welcomed the initiative but warned its impact could be limited without broader changes. “A lot of less healthy food and drink is purchased from local convenience stores and takeaways,” she said. “Unless this is part of a wider, comprehensive strategy, it will not be enough.”

Anna Taylor, Executive Director of The Food Foundation, called the introduction of mandatory sales reporting for large food companies “a game changer”.

“This simple act of transparency delivers the opportunity for systemic change—informing better policy design and triggering boardroom conversations,” she said. “It will also clearly reveal to consumers which businesses are on their side and which are making it harder to eat well. The faster this is introduced, the better.”

The full details of the food industry partnership and the broader NHS 10-year plan are expected to be unveiled in the coming days.

Read more:
Government urges supermarkets to make healthy food more appealing in bid to tackle obesity crisis

Lotus has insisted it has “no plans” to shut down any of its UK manufacturing sites following reports it was weighing a potential production shift to the United States.

The carmaker, best known for its lightweight sports cars and deep-rooted British heritage, was reported by the Financial Times to be reviewing whether to move some production overseas—putting as many as 1,300 jobs at risk at its Hethel headquarters in Norfolk.

In a statement released on X (formerly Twitter), the company confirmed that it is “actively exploring” new global market opportunities but stressed that “Lotus Cars is continuing normal operations. There are no plans to close any factory.”

Sources at Lotus told the BBC the situation remains under review as the firm evaluates its international production footprint. A key factor driving discussions is the imposition of 25% tariffs on imported vehicles and car parts by the US, a significant market for Lotus. The tariff hike has temporarily disrupted production in Hethel and complicated transatlantic sales.

The Business Secretary, Jonathan Reynolds, is expected to hold talks with Lotus’s owners in a bid to reassure both the company and local stakeholders.

“Lotus remains committed to the UK, to our customers, employees, dealers, suppliers, as well as our proud British heritage,” the company said in a follow-up statement, emphasising the importance of its Norfolk roots.

The uncertainty has prompted local political intervention. Ben Goldsborough, Labour MP for South Norfolk, said he was “deeply concerned” by the rumours surrounding a potential closure of the Hethel plant.

Posting on Facebook, he said he had held “telephone conversations” with Lotus and government officials and vowed to fight to keep the facility open. “I want to be absolutely clear: I will do everything in my power to ensure that the Hethel facility remains operational and that Lotus continues to thrive in Norfolk,” he said.

Lotus’s Hethel site has been its manufacturing base since 1966 and recently underwent major investment as part of the company’s transition to electric vehicles. The firm, now majority-owned by China’s Geely, has been expanding its global ambitions, with a growing focus on North America.

While speculation about a US facility has reignited concerns about Britain’s competitiveness as an EV manufacturing hub, Lotus’s messaging remains consistent: the brand may be going global, but it is not abandoning its UK foundations—for now.

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Lotus denies plans to close Hethel factory amid US expansion talks

Elite academic credentials are losing their dominance in graduate recruitment, as UK tech employers place growing emphasis on practical and interpersonal skills when hiring for entry-level roles.

According to new research from tech talent specialist mthree, 39% of hiring leaders now view graduates from all universities equally — a sharp increase from just 23% last year. The findings point to a significant shift away from traditional prestige-based hiring models, as companies focus on sourcing candidates who can contribute from day one.

The Diversity in Tech report, based on a survey of senior IT decision-makers across medium and large enterprises, highlights a widening disconnect between academic backgrounds and workplace readiness. While a degree is still widely seen as valuable, the specific institution attended is no longer the differentiating factor it once was — particularly in a sector grappling with rapid innovation and a growing digital skills gap.

The report reveals a dual concern among employers: nearly two-thirds (61%) say they face a significant shortage of specific technical skills, up from 41% a year ago, while 31% cite a lack of soft skills, including communication and problem-solving, as a barrier to effective onboarding — up from 25%.

These gaps are being exacerbated by the rise of generative AI and the fast-changing tech landscape, prompting firms to look beyond academic pedigree and prioritise attributes like adaptability, curiosity, and collaboration.

Alex Headley, CEO of mthree, said: “Employers are increasingly focused on what graduates can deliver from day one. As technological change accelerates across every major industry, the ability to source and develop adaptable, job-ready talent is critical.”

“This research reinforces the need for businesses to adopt skills-first hiring models that help close the gap between education and employment.”

mthree’s hire-train-deploy model is designed to address exactly this issue. The firm identifies high-potential graduates from diverse degree backgrounds, provides them with intensive training in both technical and workplace skills, and places them into roles at global companies.

The model ensures new hires are not only equipped to hit the ground running, but also reflect a broader talent pool — helping companies build more inclusive and resilient teams at a time of growing demand.

As the pressure to modernise recruitment intensifies, the findings suggest that the age of hiring by academic brand alone is giving way to a more inclusive, skills-led approach.

Read the full Diversity in Tech report and find out more at mthree.com/diversity-in-tech-report-2024.

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Top university degrees lose sway as tech employers prioritise job-ready skills

The Sunday Times has unveiled its much-anticipated list of the UK’s 100 fastest-growing private companies of 2025, with activewear label Dfyne topping the rankings after recording extraordinary growth of 517 per cent a year.

Founded by Glasgow entrepreneur Oscar Ryndziewicz, the company posted revenues of £66.8 million this year, having been started on a credit card loan from his then-girlfriend, now wife, Eilidh.

The list highlights the entrepreneurs and small firms defying economic uncertainty with bold ideas, digital savvy and a strong sense of mission. Collectively, the top 100 businesses have added £2.8 billion in sales over the past three years, creating 10,500 jobs, and plan to hire 5,300 more people in the year ahead.

Among the high-flyers are Nala’s Baby, the skincare brand founded by rapper Krept and inspired by his daughter, and Hawkstone, Jeremy Clarkson’s brewery, which has tripled its sales to over £21 million, buoyed by the popularity of his TV show Clarkson’s Farm.

The diversity of sectors is striking — spanning fashion, health and wellness, tech consultancy, food delivery, and consumer products — but common traits run throughout: innovation, resilience, and a willingness to take risks. “If you don’t try, you’ll never get lucky,” said Dfyne’s founder Ryndziewicz, who credits luck and hustle in equal measure.

Female entrepreneurs feature prominently in the top 100, with 28 businesses led or co-founded by women. These include Odd Muse, a fashion brand started in lockdown by Aimee Smale, and Purdy & Figg, the eco-cleaning brand created by an NHS nurse and a horticulturist.

There’s also a noticeable geographical shift. This year’s list includes 10 companies from Scotland and Wales, up from zero last year, while London’s representation has dropped slightly to 36 companies. The North West — home to 18 firms — has emerged as a powerhouse of growth.

The youngest entrepreneurs on the list include the Simmer Eats brothers, Simmy and Jhai Dhillon, who built a £36 million food delivery service from a £10 start in a university kitchen, and the school friends behind Montirex, a Liverpool-based clothing brand with revenues of nearly £77 million.

Meanwhile, Two Circles, the data-driven sports marketing agency, made history as the only firm to appear on the list for a fourth consecutive year.

Top 10 Fastest-Growing Companies in the UK – Sunday Times 100, 2025

Dfyne – ▲ 517% growth

Activewear brand founded by Oscar Ryndziewicz, with sales of £66.8m.

Healf – ▲ 434%

Wellness products retailer founded by Lestat McCree and Max Clarke; £40m in sales.

Purdy & Figg – ▲ 325%

Natural cleaning products by NHS nurse Purdy Rubin and horticulturist Charlotte Figg.

Odd Muse – ▲ 268%

Luxury fashion label started during lockdown; £25m in sales.

Simmer Eats – ▲ 205%

Meal subscription business co-founded by brothers Simmy and Jhai Dhillon.

Pace – ▲ 197%

IT consultancy and innovation firm led by former Royal Marine Tim Bretman.

Capo – ▲ 192%

Menswear brand started by two non-league footballers in Accrington.

de Novo Solutions – ▲ 187%

Tech consultancy founded by Welsh entrepreneurs Mark Sweeny and Tim Warner.

D Louise – ▲ 183%

Jewellery brand founded in memory of Deborah Louise; £6.6m in sales.

Nala’s Baby – ▲ 175%

Natural skincare brand for children, founded by rapper Krept and inspired by his daughter.

The list provides an optimistic snapshot of British entrepreneurialism at a time when many large employers are slowing down hiring. Despite rising taxes and ongoing economic headwinds, these businesses show that the UK’s SME sector remains a vital engine of growth and innovation.

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Britain’s fastest-growing firms revealed for 2025: Dfyne, Nala’s Baby and Hawkstone lead the charge

UK Export Finance (UKEF) has announced new measures to support small businesses across the UK in expanding their global trade operations, delivering on key commitments set out in the government’s new Trade Strategy.

As the government’s export credit agency, UKEF is enhancing its suite of trade finance and insurance products to make international trade more accessible, efficient and secure – particularly for smaller businesses.

Among the key announcements today:
• The Small Exporter Builder: A new export insurance option designed specifically to help smaller firms manage risk when trading overseas, offering financial protection and confidence in uncertain markets.
• Repeat Order Guarantee: This streamlined product allows international buyers to place repeat orders with trusted UK suppliers without needing to go through the full application process each time. By cutting red tape and providing greater certainty, the move aims to improve cash flow, boost supplier planning, and strengthen UK-based supply chains.

The initiatives come as part of a wider push by the Department for Business and Trade to simplify trade for UK companies, particularly in the high-growth sectors identified in the government’s Plan for Change.

Trade Minister Douglas Alexander said: “This new, hard-headed, data-driven and agile trade approach reflects our pragmatic patriotism. In a changed and challenging world, we must promote what we can and protect what we must to secure Britain’s national interest.

Through our new Trade Strategy, we are giving businesses more tools to expand, export and thrive – with UKEF playing a central role in helping exporters win orders, create jobs and secure payment.”

UKEF CEO Tim Reid added: “We’re focused on delivering measurable impact for UK businesses, putting their needs at the core of what we do.

Our updated insurance product and the new Repeat Order Guarantee will give more exporters the confidence and capacity to grow globally. We are simplifying access to vital support and backing long-term export growth.”

UKEF’s expanded product portfolio is underpinned by a wider remit, with the agency now authorised to provide up to £80 billion of support to UK exporters. The upcoming 2024/25 Annual Report and Accounts, expected shortly, will showcase further results of UKEF’s efforts.

In 2023/24, UKEF provided over £8.8 billion in support to 650 businesses, safeguarding up to 41,000 jobs across the UK and contributing up to £3.3 billion to the national economy.

With the new export tools, UKEF aims to unlock even more opportunities for UK firms to grow their presence in overseas markets, ensuring the UK remains globally competitive in sectors such as clean energy, life sciences, defence, digital and advanced manufacturing.

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UK Export Finance unveils new tools to boost SME global trade

A Manchester entrepreneur has been cleared of computer hacking after a private prosecution brought by the Information Commissioner’s Office (ICO).

Craig Cornick, who runs several companies in the legal and financial services sectors, was found not guilty by a unanimous jury at Bolton Crown Court of conspiring to access computer systems without authority.

The allegations related to historic incidents said to have taken place between 2014 and 2017 at a previous business, and centred on claims that customers’ contact data had been accessed without their consent. The case faced repeated delays before concluding this week.

In a statement, Mr Cornick said: “I am relieved to have been cleared of some serious and damaging accusations. The claims of computer hacking were shown to be completely unfounded, with no evidence of criminal intent or harm.”

While expressing respect for the role of the ICO in protecting personal data, he strongly rejected any suggestion of wrongdoing. “I was never subject to any searches of my personal or business properties, I was never interviewed, and my companies have never failed an audit,” he added. “They are built on professionalism and trust, and this result changes none of that.”

Despite the hacking acquittal, Mr Cornick was found guilty on a lesser charge of unlawfully obtaining personal data, with a 10-person jury returning a majority verdict. His legal team have confirmed that an appeal is being prepared. The offence carries a maximum penalty of a fine.

Richard Wormald KC, part of Mr Cornick’s legal team, described the prosecution as “unusual,” noting the passage of time since the alleged offences and the absence of any evidence that Mr Cornick or his businesses gained any benefit.

Laura Smith, Head of Corporate and Financial Crime at Cartwright King Solicitors, welcomed the not guilty verdict on the more serious charge and noted that no evidence was presented showing that Mr Cornick or his companies had received or used stolen data.

Cornick stated: “I have managed all my business ventures with integrity, and this was made clear throughout the case. I plan to clear my name and protect the reputation of my companies and our hard-working staff.”

His companies, which continue to partner with major law firms and insurers, have consistently passed regulatory audits with no compliance issues or sanctions reported.

Cornick concluded: “We’re proud of our record and will continue building ethical, compliant businesses that deliver measurable success.”

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Manchester businessman cleared of hacking charges in ICO case