Business

A female entrepreneur has criticised London Tech Week after she was refused entry for bringing her eight-month-old daughter to the event, prompting calls for the tech industry to modernise its approach to inclusion and caregiving.

Davina Schonle, founder of the start-up Humanvantage AI, said she felt “humiliated” after being turned away at the entrance to the flagship event at London Olympia on Monday. Schonle had travelled three hours to attend and had arranged multiple meetings with potential suppliers. She was reportedly turned away alongside another mother with an 18-month-old child.

“It was more than inconvenient. It was a clear reminder that as a tech industry, we still have work to do when it comes to inclusion beyond buzzwords,” Schonle posted on LinkedIn.

Organised by Informa, a FTSE 100 company, London Tech Week is billed as a global gathering of the brightest minds in technology. Yet the decision to exclude mothers attending with babies has sparked a wave of criticism in a sector already under scrutiny for its lack of diversity and support for female founders.

In response, a spokesperson for London Tech Week said: “We’re aware that one of our attendees wasn’t allowed to enter with their child. As a business event, the environment hasn’t been designed to incorporate the particular needs, facilities and safeguards that under-16s require. We’ve reached out directly to the person involved to discuss what happened and to inform how we approach this at LTW in the future.”

Schonle, however, said she had not received a personal reply by Tuesday afternoon, and noted that her LinkedIn post had attracted support from other parents and industry leaders.

Rachel Carrell, founder of childcare agency Koru Kids, commented: “Thirty years ago, this exact debate was happening in law firms and parliament. And here we are in tech, claiming to be the vanguard but still failing at the basics. If parliament can make room for babies, so can London Tech Week.”

Florence Bavanandan, head of platform at Launch Africa Ventures, added: “This systematic exclusion of parents — but let’s face it, mothers — is unacceptable.” She recalled appearing on stage at the same venue last year with her six-week-old baby, stating that Olympia is “completely accessible” and includes baby feeding rooms.

Jennifer Davidson, founder of Sleek Events, which runs large corporate gatherings for clients including AWS and Bacardi, called on organisers to design events “with empathy – recognising that our attendees are whole people, with responsibilities beyond the badge they wear.”

The controversy comes as UK data shows persistent inequality in tech entrepreneurship. According to Beauhurst, just 1.8% of the £8 billion of UK equity investment raised in the first half of 2024 went to all-female founding teams, compared with over 86% for all-male teams.

Schonle, a member of the University of Warwick’s Deep Tech Incubator, said the experience had brought “all my worst fears about being a woman in tech into sharp focus” and urged the industry to do better.

“I wasn’t there for a social visit,” she said. “I was there to do business.”

Read more:
Entrepreneur turned away from London Tech Week for bringing baby sparks industry backlash

There’s something about the buzz in the room on the night of the Lloyds British Business Excellence Awards that’s hard to describe. It’s not just about the champagne or the sparkle, though there’s certainly plenty of both. It’s something deeper.

As Sarah Austin, Awards Director, Lloyds British Business Excellence Awards, explains, it is the sense that, for one night, British businesses of all sizes, from all sectors, get the recognition they so richly deserve.

In a world of 24/7 hustle, where teams are often running at full tilt and achievements can be quickly swept aside in the rush to meet the next deadline, business awards are one of the few moments where we can hit pause, take stock, and say — “we did that.” And that’s not just good for morale. It’s good for business.

I’m proud to lead the Lloyds British Business Excellence Awards — widely regarded as the UK’s largest and most prestigious business awards. As former Chancellor Jeremy Hunt rightly put it, “The BBEA is the great renaissance of Great British business.” And having seen first-hand the transformational impact these awards can have — not just on the winners, but on every company that chooses to put itself forward — I can tell you with absolute certainty: entering a business award can be a game-changer.

Recognition matters — inside and out

Let’s start with your team. Your people are your most valuable asset, and the past few years have pushed them harder than ever. Recognising their dedication with an independent stamp of excellence isn’t just a pat on the back — it’s a public declaration that their hard work is paying off. When employees see the company they’ve built or supported being recognised on a national stage, it ignites pride, boosts motivation, and reinforces a shared sense of purpose. The UK is globally known for its sensational talent , let’s put us on the global stage.

But awards do more than energise your workforce. They send a strong message to your customers, your suppliers, and your stakeholders. When a business is shortlisted — or better still, wins — it signals that you’re operating at the top of your game. That matters in the boardroom. It matters in the marketplace. And it matters in your supply chain.

In fact, we hear time and again from entrants that even making it to the finalist stage opens new doors. Whether it’s landing a game-changing contract, attracting investment, or becoming a partner of choice in a crowded field, awards can add weight and credibility that no marketing campaign can match.

The process is the prize

Still unsure? Here’s another reason to enter: the process itself is a gift.

To submit a strong award entry, you need to take a step back and reflect. What have you achieved? Where have you made a difference? What lessons have you learned? In the day-to-day whirlwind, there’s rarely time for this kind of strategic stocktake — yet it’s incredibly powerful.

Time and again, our applicants tell us that preparing their entries helped them clarify their goals, refine their messaging, and spot opportunities for improvement. Some even say the act of entering was more beneficial than the win itself. That’s the magic of a well-designed awards programme — it helps you tell your story better, internally and externally.

It’s not just for the big players

One of the biggest myths I encounter is that awards are only for huge companies with corporate PR teams and glossy brochures. Not so.

The BBEA is open to businesses of all shapes and sizes — from early-stage disruptors to high-growth SMEs and household-name giants. We have categories that celebrate sustainability, purpose-driven leadership, customer excellence, and innovation, to name just a few. If your business is making waves in any of these areas, there’s a category for you.

What we care about is impact, not headcount. Ambition, not advertising budgets. We want to celebrate those quietly changing the game, those doing the right thing, those striving — day in, day out — to make a difference.

Time is running out — don’t miss your chance

So here’s the call to action: if you’ve ever thought about entering a business award — or even if you haven’t — this is your moment. You have just 17 days left to enter the Lloyds British Business Excellence Awards 2025, and I cannot urge you strongly enough to seize the opportunity.

This isn’t just another trophy for the cabinet. It’s a chance to shine a light on what makes your business great. It’s a platform to celebrate your people, to raise your profile, and to join a prestigious community of excellence that spans every sector and region of the UK.

So be part of the renaissance. Celebrate what you’ve built. Champion your team. And show the world what British business can really do.

Entries close in just 17 days — don’t miss out. Visit www.britishbusinessexcellenceawards.co.uk to find your category and start your journey.

Read more:
Why business awards are more than just trophies — they’re catalysts for growth

Three inspirational disabled entrepreneurs have been awarded a combined £300,000 by easyJet founder Sir Stelios Haji-Ioannou in the 17th annual Stelios Awards for Disabled Entrepreneurs, celebrating innovation, resilience and impact across the UK business community.

The top prize of £150,000 went to Umbreen David, founder of Hoama Group Ltd and owner of Iden Manor Nursing Home in Kent. Her vision to redefine compassionate care, informed by her own lived experience with muscular dystrophy and hearing loss, has transformed the home into a model of inclusive and dignified elderly care. She plans to invest in accessibility upgrades, leadership development, and a mentorship platform for disabled entrepreneurs in the care sector.

Taking second place and £100,000 was Michelle Phillips, the powerhouse behind Edinburgh’s much-loved Mimi’s Bakehouse. Diagnosed with multiple sclerosis after founding the business, Michelle has grown Mimi’s into a national bakery brand with five shops, two concessions and a flourishing online delivery service. Her prize will support relaunching the website, expanding the product range, and opening up export opportunities.

Paul Woods, founder of Proactive Despatch, claimed the £50,000 third prize. Living with cerebral palsy, Paul turned years of being underestimated into fuel for launching a courier business that now sets the standard for reliable, values-led service in the Northwest. He will use the prize to build his sales team and expand the company’s reach.

This year’s awards, held at the Stelios Foundation headquarters in South Kensington, marked a record-breaking 125 applicants—the highest in the initiative’s 17-year history. Since its inception in 2007, the Stelios Philanthropic Foundation, in partnership with disability charity Leonard Cheshire, has awarded over £1.7 million to disabled entrepreneurs in the UK.

Sir Stelios said: “We know how difficult it can be for disabled people to get a job. That is why I always believed their best option is to become their own boss. This year’s winners are blazing the trail for others—building businesses that create jobs, deliver value, and prove that disability is no barrier to success.”

The awards are more than a cash grant—they are a vote of confidence in individuals overcoming social and systemic barriers to lead thriving enterprises. With support from Leonard Cheshire and private philanthropy, they continue to shine a light on a new generation of leaders changing what’s possible in British business.

Photo: Nick Edwards

Read more:
‘Blazing the trail for others’: easyJet founder Sir Stelios awards £300,000 to disabled entrepreneurs transforming care, baking and logistics

Marks & Spencer has reopened its website for online orders, nearly two months after a significant cyberattack brought its e-commerce operations to a standstill.

In a statement, the retailer confirmed that a selection of its bestselling fashion ranges is now available for home delivery across England, Scotland and Wales. Deliveries to Northern Ireland are expected to resume “in the coming weeks”.

The phased return of services will also include click and collect, next-day delivery, nominated-day delivery and international shipping, all of which are due to be reinstated gradually. M&S said it will continue adding more fashion, home and beauty products to its website each day.

The attack, which severely disrupted M&S’s digital operations, has overshadowed the retailer’s recent turnaround progress. The company has estimated the incident will cost it £300 million in operating profit this year.

While M&S has not disclosed the full technical details of the breach, it has acknowledged that online trading was “heavily impacted and remains in recovery phase”.

The resumption of online services marks a significant milestone in M&S’s efforts to restore consumer confidence and stabilise its digital operations after one of the most damaging cyber incidents in its recent history.

Read more:
M&S reopens online orders after cyberattack disruption

The UK labour market suffered its sharpest decline in payroll employment since the height of the Covid-19 pandemic, according to the latest official data, with wage growth cooling and job vacancies continuing to fall.

Figures from HM Revenue & Customs revealed that the number of payroll employees fell by just over 109,000 in May — the steepest monthly fall since May 2020. The annual drop now stands at 274,000. Since Chancellor Rachel Reeves’s inaugural budget in October, payroll employment has contracted by 276,000, prompting concern that rising employer costs — including a £25 billion hike in national insurance contributions this spring — are hitting jobs.

The Office for National Statistics (ONS) also reported that wage growth is slowing. Average pay excluding bonuses rose by 5.2% in the three months to April, down from 5.5% in the previous period and below analysts’ expectations. Including bonuses, wage growth stood at 5.3%, also down from 5.6%.

This cooling came despite the 6.7% increase in the minimum wage in April. KPMG UK’s chief economist Yael Selfin said the figures indicated that wage pressures are likely to ease further this year as the economy slows. “This will limit workers’ bargaining power,” she added.

The UK unemployment rate also edged up to 4.6% in the latest quarter — the highest level since the post-lockdown rebound in 2021. Job vacancies dropped by a further 63,000 to 736,000, as many firms appeared to delay or freeze hiring.

ONS director of economic statistics Liz McKeown said that feedback from businesses indicated a growing hesitancy to replace workers or hire new staff. “There continues to be weakening in the labour market,” she said. “Some firms may be holding back from recruiting.”

Despite this, wage levels remain historically strong, particularly in the public sector, where pay rose by 5.6% compared to 5.1% in the private sector. “Public sector pay is now growing at a higher rate than private sector wages,” McKeown added.

The deteriorating jobs outlook could provide the Bank of England with justification for further interest rate cuts, especially after last week’s soft earnings and inflation data. With inflation now back up to 3.5% in April — its highest since January — the Bank remains under pressure to balance cooling wage growth against stubborn price pressures.

James Smith, economist at ING, said the data “helps cement” rate cut expectations for August and November. Rob Wood of Pantheon Macroeconomics agreed, noting that “the labour market looks in worse shape in May, which could tip the MPC into cutting rates again in August”.

Markets responded swiftly. Sterling dropped 0.6% against the dollar to $1.34, while the yield on 10-year gilts fell to 4.56%. The FTSE 100 rose 0.48% and the FTSE 250 gained 0.40%.

The figures land ahead of Rachel Reeves’s hotly anticipated spending review on Wednesday, where she is expected to outline the government’s day-to-day spending for the next three years, alongside over £100 billion of capital investment.

With calls mounting for increased funding across public services — from defence to welfare — and UK borrowing costs still high, the pressure on the government’s economic strategy is growing.

New GDP figures out this Thursday are expected to show that the UK economy shrank slightly in April, despite a 0.7% expansion in the first quarter. If confirmed, this would reinforce concerns that the post-election honeymoon may be short-lived as Britain’s labour market begins to stall.

Read more:
UK payrolls see biggest drop since covid as wage growth slows and job market weakens

I’m all for a bit of back-patting. Especially when it’s well deserved, and even more so when the hand doing the patting is someone else’s.

So when Press Gazette – the hallowed trade rag of media geeks and PR doyennes – recently ran a lovely write-up on the growth of Capital Business Media, I was delighted. Beaming, in fact. There’s something satisfying about seeing your company’s hard graft recognised in print (or pixels), nestled among the news of who’s made substantial redundancies, who’s pivoted, and who’s just hired a former TikTok influencer as their new head of strategy.

But then came the kicker. The buzzkill. The frustrating, fingers-on-a-blackboard twist in the tale: the piece was behind a paywall.

Now, I get it. Journalism isn’t free. Reporters need to be paid. Publishers need to keep the lights on. And websites – even the ones with clunky UX and a cookie banner the size of a duvet – need revenue. But when your shiny new bit of PR, lovingly pitched, massaged, and nudged into a slot by your PR team, is suddenly visible to… well, about 37 subscribers and a bloke named Colin who still has an RSS reader… it all feels a bit, well, pointless.

The actual growth that the Press Gazette piece on Capital Business Media was talking about came about directly because we do not use paywall’s – and never will –  on any of our websites, and Press Gazette could most probably make themselves more revenue but not using one.

Because PR – real, strategic, value-generating PR – is about more than egos. Or at least, it should be. It’s about reach. Visibility. Shaping the conversation. A great media hit should do more than sit on your mum’s fridge door. It should drive traffic, get people Googling you, earn you a bit more swagger in the pitch meeting.

But when it’s locked behind the “Subscribe now for £14.99 a month (or £149.99 a year)” barricade, the value begins to erode. Not immediately, and not always fatally, but in a death-by-a-thousand-clicks sort of way. The headline teases. The intro loads. Then—bam. The wall comes down like a guillotine. And the potential impact? It vanishes into the digital void.

And this isn’t just me having a sulk because my feature couldn’t be screen-grabbed and paraded across LinkedIn like a new baby photo. This is a broader issue facing the entire PR industry. If the holy grail of coverage – the big-name title, the high-profile platform – can only be seen by those who already live and breathe media, then what’s the real ROI for the client?

Will businesses keep paying four or five figures a month to get coverage they can’t properly leverage? Will CMOs sign off on budgets to secure placements in titles their customers, partners, and stakeholders can’t even read without creating yet another login and parting with a tenner?

There’s an uncomfortable truth here. One that PR firms – especially the big, glossy ones with exposed-brick offices and scented reception desks – might not want to admit: the value of PR is increasingly in visibility, not just placement. And visibility, in a post-paywall world, is getting harder to quantify.

Yes, there’s still cachet in a Financial Times mention. A Times write-up can still lend serious clout. But if your audience is entrepreneurs, SMEs, or anyone under 35 who thinks paying for news is a crime against the internet, then your impact is limited.

We live in an age where LinkedIn posts, podcast appearances, and cheeky YouTube shorts get more engagement than some magazine articles. I’ve seen company founders go viral with a single raw, self-shot iPhone video explaining their mission – reaching more eyeballs than a full-page spread in a national broadsheet could ever hope to.

That’s not to say traditional media is dead. Far from it. But the model is creaking. It’s not built for the distribution-hungry, scroll-happy, SEO-driven landscape we now operate in. And PR firms, frankly, need to adapt. Because clients are starting to ask better questions. Not just “Can you get us in The Guardian?” but “How many people will see it? How many will click? Can we share it freely? Will it help with our Google ranking?”

If the answer to all those is “no”, or “only if they pay for the privilege”, then PR – the good kind, the strategic kind – needs to find new ways of proving its worth. That might mean a shift towards owned media. Thought leadership. Influencer outreach. Or yes, even paying to boost your own press coverage on social.

I’m not here to slate paywalls. They’re a necessary evil in a world where journalism has been gutted by ad models, clickbait, and social media giants. But let’s not pretend they don’t complicate the picture for PR.

As for that Press Gazette article? It was nice. It was flattering. It was a professional moment of pride. But when I tried to share it with a potential client and he replied, “Mate, I’d love to read it but I’m not subscribing just to see your face”, I had to laugh.

Because if a brilliant bit of coverage falls in the forest, and no one’s there to click on it – did it ever really happen?

Read more:
Yes, it’s great to get PR coverage – until it’s locked behind a bloody paywall

In 2025, a quiet revolution is transforming the way small and medium-sized enterprises (SMEs) grow and compete in the UK. This revolution isn’t being driven by cheap capital or tax cuts—but by innovation. More specifically, by the early adoption of artificial intelligence and green technologies.

As inflation stabilises, consumer habits shift, and supply chains evolve post-Brexit and post-pandemic, it is becoming increasingly clear that the SMEs best positioned for success are those that are embracing smarter ways of working and more sustainable practices. The growth curve is no longer shaped simply by how well you sell—it’s now about how efficiently, responsibly, and intelligently you run your business.

The message from experts and industry leaders is consistent: adapt to the new technological and environmental landscape or risk being left behind.

The case for AI: From buzzword to business advantage

Artificial intelligence is no longer a Silicon Valley novelty or something reserved for global corporations. In fact, many of the most practical and accessible AI tools are now being deployed by businesses with fewer than 50 employees.

From automating routine admin tasks to predicting customer behaviour and managing inventory, AI is helping SMEs save time, reduce costs, and improve decision-making. Tools such as ChatGPT, Microsoft Copilot, and Zoho’s AI-powered CRM are making it possible for small teams to compete with much larger operations in terms of speed, output, and personalisation.

Take customer service as a prime example. AI-powered chatbots and helpdesk solutions allow SMEs to deliver 24/7 customer support without hiring round-the-clock staff. Meanwhile, predictive analytics tools are enabling retailers to better anticipate demand, reduce waste, and manage supply chains more efficiently.

And the applications aren’t just limited to tech businesses. A growing number of trades, legal firms, marketing agencies, and even small manufacturers are integrating AI into their workflows to streamline quoting, scheduling, document generation, and more.

According to research from McKinsey & Company, companies that embed AI into at least one business function outperform their peers in revenue growth by up to 15%. For SMEs operating in tight margin environments, this can be the difference between survival and sustainable scale.

Green tech: not just good ethics, but good economics

While AI grabs the headlines, green technology is quietly reshaping business fundamentals—particularly among SMEs who see sustainability not just as a moral imperative, but a market opportunity.

Energy efficiency upgrades, low-carbon logistics, sustainable packaging, and even on-site renewable energy installations are becoming increasingly common across the UK’s SME sector. This is being driven by several converging factors: customer expectations, tightening environmental regulations, rising energy costs, and increased availability of government-backed funding.

Businesses that can demonstrate strong environmental credentials are not only cutting costs—they’re gaining access to new contracts, particularly in public sector supply chains where green standards are now mandatory. The UK government’s Procurement Policy Note (PPN) 06/21 requires suppliers bidding for large contracts to commit to Net Zero targets, opening up a new era of green-led growth.

In hospitality and retail, consumers are actively rewarding sustainable brands. In B2B services, ESG reporting is becoming a prerequisite for partnerships and procurement. Even SMEs in heavy industries are finding that decarbonisation can offer unexpected efficiencies—from electrifying vehicle fleets to adopting smart building technologies that monitor energy use in real-time.

The capital costs can be significant—but increasingly, green finance solutions and sustainability grants are helping bridge the gap. Regional Growth Hubs, Innovate UK, and the British Business Bank are among the organisations stepping in to provide funding, guidance, and incentives.

Innovation hubs and SME ecosystems

A key driver behind this shift has been the emergence of regional innovation hubs and ecosystem support models tailored to small businesses. Places like Bristol’s Engine Shed, Manchester’s ID Manchester, and East London’s Plexal are giving SMEs access to shared workspaces, R&D facilities, industry mentors, and early-stage investors.

One standout example is Sister, a female-led accelerator network that supports SMEs building sustainable, inclusive businesses through tech and innovation. Their programmes combine AI training, access to green supply chain partners, and investor readiness support—equipping founders with both skills and connections.

These hubs are not just giving SMEs a foot in the door—they are providing the kind of wraparound infrastructure usually reserved for high-growth startups. The result? A new breed of SME that is lean, agile, and ready to scale on values as well as vision.

Bridging the skills gap

While the appetite for innovation is growing, skills remain a concern. Many SME owners acknowledge they do not yet have the in-house expertise to fully exploit AI or lead sustainability transitions. Upskilling—through online platforms, peer learning groups, and local business networks—is becoming a priority.

Government-backed schemes such as Help to Grow: Digital and Skills Bootcamps are also being retooled to help SME leaders and employees build fluency in key areas such as digital transformation, carbon literacy, and data-driven decision-making.

Universities and colleges are beginning to partner more closely with local businesses, offering short-term placements, consultancy projects, and co-funded innovation trials—making it easier for SMEs to experiment without committing to large, upfront costs.

The future of growth is intelligent and sustainable

The UK’s economic landscape is shifting—and SMEs that fail to adapt to this dual agenda of digital transformation and environmental responsibility may find themselves increasingly out of step with market demands, investor interests, and customer expectations.

But for those that lean into these trends, the potential is huge. AI and green tech are not just tools—they’re multipliers of productivity, enablers of resilience, and gateways to entirely new markets.

Read more:
Why AI and green tech are vital to SME growth in 2025

A new academic study has shed light on what really wins over investors on Shark Tank — and it turns out, not all confidence is created equal.

Researchers from Vlerick Business School, Iowa State University, Texas Tech University, the University of Oklahoma, and Baylor University analysed 789 entrepreneur pitches across 12 seasons of the hit TV series. Their findings reveal that while visionary and charismatic founders often succeed in securing funding, those who exhibit combative or overly defensive behaviours are far more likely to walk away empty-handed.

The study focused on two types of narcissism commonly observed in startup founders. The first — narcissistic admiration — is characterised by confidence, charm, and persuasive storytelling. The second — narcissistic rivalry — involves aggressive defensiveness, dominance in conversation, and status-seeking.

“Founders who radiate vision and charm tend to gain investor trust and interest,” said Professor Veroniek Collewaert, co-author and professor of entrepreneurship at Vlerick Business School. “But those who react aggressively or appear overly status-driven tend to trigger scepticism—even if the venture itself is sound.”

Using established psychological frameworks, the researchers coded founder behaviours as shown on screen, then tracked how these behaviours influenced investor sentiment — from the Sharks’ spoken responses to their ultimate investment decisions.

The takeaway? Boldness helps — but only up to a point.

“It wasn’t just about the product or the numbers,” explained Professor Paul Sanchez-Ruiz of Iowa State University. “Investor sentiment was shaped by the emotional tone of the interaction. Trust, perceived leadership capability, and emotional intelligence played a central role.”

Even when a pitch had strong fundamentals, founders displaying rivalry-based traits — such as interrupting investors or becoming visibly defensive under pressure — often failed to secure deals. Meanwhile, entrepreneurs who conveyed confidence without arrogance, and showed willingness to collaborate, were more likely to win funding.

The research offers key lessons for entrepreneurs: namely, that how you pitch can be just as important as what you pitch. A combative stance, however authentic or passionate, can work against even the most promising venture.

For investors, the study underscores the importance of recognising how interpersonal dynamics can subconsciously sway decision-making. While charisma can be compelling, it’s vital to look beyond surface-level charm and assess how a founder responds to challenge and feedback.

Co-authors of the research include Andrew Blake (Texas Tech University), Oleg Petrenko (University of Oklahoma), Ileana Maldonado-Bautista (Iowa State University) and Kendall W. Artz (Baylor University).

Their conclusion? Entrepreneurial success isn’t just about having a bold vision — it’s about how you share it. Founders who invite admiration often win backing. But those who provoke conflict may struggle, regardless of their idea’s merit.

Read more:
Shark Tank study shows charming narcissists get funding

Small and medium-sized enterprises (SMEs) are the lifeblood of the UK economy, accounting for over 99% of all businesses and employing more than 16 million people. Yet for years, access to finance has remained one of the sector’s biggest obstacles—especially in a post-pandemic, high-interest rate environment.

Now, one community lender based in Wolverhampton is demonstrating how the tide may be turning. BCRS Business Loans, a not-for-profit finance provider, has cut SME loan processing times by an astonishing 80% after embracing a new wave of back-office technology.

The transformation comes at a crucial moment. Many SMEs are still grappling with cash flow issues, delayed payments, and rising operating costs. Traditional banks have tightened their lending criteria, with thousands of smaller businesses reporting difficulty accessing credit. In this context, the speed and efficiency of alternative lenders like BCRS are more vital than ever.

A radical rethink of the lending process

BCRS Business Loans is no stranger to innovation. The lender was established to serve underserved businesses that fall outside the risk appetite of mainstream banks. Historically, BCRS has provided loans of up to £150,000 to businesses across the West Midlands and surrounding regions.

However, like many legacy lenders, BCRS found itself constrained by slow internal systems and manual processes that added unnecessary friction to the borrower experience. A typical business loan could take several weeks to process—a time delay that could spell trouble for a company needing urgent funding.

That changed when BCRS partnered with fintech platform Kennek, which provides an end-to-end lending operating system. With Kennek’s technology, BCRS streamlined and automated much of its back-office function, from initial borrower onboarding and risk profiling to documentation and compliance checks.

The result? Loan turnaround times have dropped by four-fifths. What once took weeks can now be achieved in days, with borrowers receiving decisions and disbursements faster and with fewer headaches.

Speed matters: why efficiency is now a competitive edge

In today’s business landscape, speed is not a luxury—it’s a competitive necessity. SMEs frequently need funding to capitalise on growth opportunities, manage short-term cash crunches, or invest in equipment and talent. When access to that capital is delayed by weeks, it can mean missed opportunities or even business failure.

Faster processing also improves the lender’s performance. By accelerating loan decisions, BCRS can turn over capital more efficiently, serve more clients, and enhance overall portfolio performance.

“Every day counts for our borrowers,” said Stephen Deakin, CEO of BCRS Business Loans. “By removing bottlenecks and automating key parts of our process, we’re not only providing a better customer experience—we’re making our entire operation more robust and responsive.”

The wider implications for SME finance in the UK

While BCRS may be a regional lender, the implications of its back-office transformation are national. The UK currently faces a persistent SME funding gap estimated at over £22 billion, as noted by the British Business Bank. Many of these unmet financing needs are not due to creditworthiness, but rather inefficiencies and risk aversion in the lending system.

Digital transformation—particularly in the back office—offers a credible path forward. By using platforms like Kennek, lenders of all sizes can move faster, reduce operating costs, and scale without compromising on due diligence or regulatory compliance.

Moreover, fintech innovation in this space isn’t limited to faster processing times. It also includes better risk modelling, data-driven decision making, and integration with Open Banking data to improve financial insights—all of which help ensure responsible lending.

What this means for borrowers

For the small business owner, this shift is hugely welcome. Many SMEs report feeling marginalised or frustrated when seeking finance from high street banks, especially for loans under £250,000. Decision-making can feel opaque, impersonal, and out of sync with the needs of fast-moving firms.

Community lenders and regional growth finance bodies like BCRS play an essential role in bridging that gap. But to do so effectively and at scale, they must adopt the same level of digital sophistication as the fintech giants—while maintaining the local knowledge and hands-on support that make them valuable in the first place.

As BCRS has shown, marrying community ethos with cutting-edge tech isn’t just possible—it’s transformational.

The next chapter for SME finance

The success of BCRS’s back-office reform sends a strong signal to other lenders across the UK. Streamlining internal systems isn’t a “nice to have”—it’s mission critical. As the government pushes forward with its SME finance review in 2025 and prepares a new industrial strategy, modernising the infrastructure behind business lending must remain front and centre.

Whether through partnerships with fintechs, internal digital overhauls, or new market entrants, the goal is clear: UK SMEs deserve faster, fairer, and more accessible finance.

Read more:
SME lending delays slashed by 80% thanks to fintech-driven back-office reform

Small businesses across the UK are being invited to play a central role in the country’s future defence strategy, as the government launches a landmark £400 million innovation fund aimed at transforming military technology and procurement.

It’s a move that could dramatically reshape the opportunities available to SMEs working in fields such as artificial intelligence, robotics, cybersecurity and advanced materials.

Announced in Chancellor Rachel Reeves’ first Spring Statement, the UK Defence Innovation Fund will begin rolling out in July 2025. It marks the most significant signal yet that the Ministry of Defence (MoD) is seeking to move faster, think smaller—and harness the disruptive energy of Britain’s 5.5 million SMEs to gain a technological edge.

Historically, defence contracts in the UK have been the preserve of a small number of major players—industry giants like BAE Systems, Thales and Rolls-Royce. These companies will still have a vital role to play. But in a world of fast-moving threats and rapid innovation, the MoD is increasingly aware that the boldest ideas often come from outside the usual suspects.

Defence Secretary John Healey recently spoke of the need to “outpace threats before they emerge” by engaging the full brilliance of Britain’s entrepreneurs—engineers, coders, robotics specialists and data scientists working in small teams, often far from Whitehall. It’s not just about strengthening the armed forces. It’s also a way to stimulate economic growth by unlocking new commercial opportunities for UK-based innovators, many of whom are already active in the civilian applications of these same technologies.

“The best defence tech is often built for the battlefield—but scales fastest in the civilian world.” – Juliet Mann, tech investor and former NATO adviser

The £400 million fund will be delivered in stages, with initial focus areas likely to include autonomous vehicles across land, sea and air, AI-powered decision-making tools, wearable battlefield technology, resilient communication systems, advanced sensors, and green energy innovations such as mobile power storage. These projects are not speculative—they are viewed as essential to the UK’s future military effectiveness. But crucially, many of them are also “dual-use” technologies that can serve civilian markets, opening up broader pathways for commercialisation.

Unlike traditional MoD procurement cycles, which have been widely criticised for their slowness and complexity, the new innovation fund is being designed with SMEs in mind. The aim is to deliver funding in short, sprint-like phases, with flexible modular contracts that don’t lock businesses into multi-year frameworks. This structure will allow younger and smaller companies to contribute meaningfully without needing the scale or cashflow of a defence prime.

For small firms used to navigating procurement red tape and slow-moving public sector contracts, the shift could be transformative. There are plans for simplified application procedures, dedicated onboarding teams to guide SMEs through the process, and faster payment mechanisms—particularly for lower-value contracts. Regional innovation hubs will also play a role, with new defence accelerators planned for locations including the North East, West Midlands and Wales, helping ensure the benefits of the fund are spread beyond the capital.

Of course, this is not a blank cheque. SMEs will need to meet high standards around security, reliability and interoperability. But the overall tone from Whitehall is unmistakably more inclusive than in the past. There is an active push to demystify defence procurement and make it less intimidating to first-time participants.

One of the most exciting elements of the strategy is the clear focus on dual-use technologies—innovations that can serve military purposes but also hold clear potential for private sector adoption. AI systems for logistics and forecasting, drone surveillance tools, mobile microgrid infrastructure and wearable biometric devices all fall into this category. For founders and investors, this could make defence an attractive sector not just for grant income, but also as a catalyst for wider product development and market entry.

This is especially important at a time when venture capital remains cautious, and many high-potential start-ups are struggling to secure early-stage funding. A defence contract—even a small one—can provide invaluable validation and cashflow, helping to unlock private investment or expand into export markets.

There is already evidence that public attitudes are shifting in favour of this approach. The war in Ukraine and growing tensions in the Indo-Pacific have brought home the need for technological self-sufficiency and home-grown capability. Supporting British SMEs to build the next generation of defence tools is increasingly seen as both patriotic and practical.

For SMEs ready to seize the opportunity, the coming months will be crucial. The Defence and Security Accelerator (DASA) and Defence Equipment and Support (DE&S) will begin issuing calls for proposals from July, with guidance documents and criteria expected in advance. Businesses should be preparing now—reviewing their IP strategies, thinking about compliance, and building partnerships with academia or established defence suppliers where appropriate.

There is a growing appetite across government for faster, leaner procurement. But what’s different this time is the urgency. The threats the UK faces are evolving too quickly for business-as-usual. If you have a technology that can save lives, improve situational awareness, or give commanders better data, then you may soon find yourself not just welcomed, but actively courted by the Ministry of Defence.

In short, defence is no longer just the domain of monolithic contractors and slow-moving tenders. The door is being thrown open to entrepreneurs, start-ups and scale-ups. And for SMEs with the right ideas and the courage to enter a new market, the opportunities could be significant—not just in financial terms, but in the ability to shape the future of British capability at home and abroad.

Read more:
UK defence innovation strategy opens new doors for SMEs in AI and autonomous tech