Business

The Royal Borough of Greenwich has secured £5.8 million in government funding to help residents who face barriers to employment find and sustain meaningful work.

The funding will support the launch of Connect to Work, a new voluntary programme designed to provide up to 12 months of tailored, one-to-one vocational support for people who are unemployed or at risk of losing their job.

Delivered by Greenwich Local Labour and Business (GLLaB), the council’s employment and skills service, the scheme is expected to support more than 1,500 people across the borough over the next five years.

Connect to Work is aimed at people who struggle to find work due to health conditions, disabilities, or personal circumstances. It will offer practical and personalised support to help individuals build confidence, develop skills, and access sustainable employment.

The programme is open to residents aged 18 and over who meet one or more of the following criteria:
• Living with a physical or mental health condition or long-term disability
• Ex-offenders or carers/ex-carers
• People affected by homelessness or substance dependency
• Refugees, resettled Afghans or Ukrainians
• Survivors of domestic abuse or modern slavery
• Armed Forces veterans or care leavers
• Young people at risk of serious violence

Residents can be referred by health practitioners or self-refer directly to the scheme.

Councillor Jackie Smith, Cabinet Member for Inclusive Economy, Business, Skills and Greenwich Supports, said the programme will make a tangible difference to those struggling to find work.

“Our mission is that everyone has the opportunity to secure a good job. By providing tailored and individual support, Connect to Work will help overcome barriers experienced by some of the most vulnerable people in our communities and give them a helping hand to find sustained employment,” she said.

Councillor Mariam Lolavar, Cabinet Member for Health, Adult Social Care and Borough of Sanctuary, added that helping residents into work also improves wellbeing and social inclusion.

“Finding suitable job opportunities for people with disabilities and complex needs will not only help them with a regular income – it will have a positive impact on well-being by expanding social connections and bringing a sense of achievement,” she said.

Connect to Work forms part of the Department for Work and Pensions’ Get Britain Working Plan, complementing two existing initiatives already active in the borough:
• The Restart programme, launched in 2021, has supported 1,496 people who have been unemployed for nine months or longer.
• The Trailblazer initiative, introduced in June 2024, has already created 24 paid placements for young people not in education or training, care leavers, and unpaid carers.

GLLaB will continue to provide employment support for residents not eligible for Connect to Work, helping people at all stages of their career — from those seeking their first job to professionals looking to retrain or return to work.

Councillor Smith said the service’s partnership approach remained key to its success.

“We’ve seen great results through programmes like Restart and Trailblazer, and we’re confident Connect to Work will build on that success,” she added.

For more information about Connect to Work, visit Connect to Work – Local London

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Royal Borough of Greenwich secures £5.8m to help residents facing barriers into work

The government has announced up to £50 million in new funding to accelerate research into mental health treatments and technologies, marking one of the largest single public investments in the field.

Unveiled to coincide with World Mental Health Day, the initiative aims to put people with lived experience of mental health problems “at the heart” of scientific innovation — shaping how future therapies and medicines are developed.

The new funding forms part of the government’s Mental Health Goals programme, designed to speed up the testing, approval, and rollout of new mental health treatments across the NHS. The Medical Research Council (MRC) will oversee delivery through UK Research and Innovation, with a focus on improving access to Britain’s world-class health data and research infrastructure.

Building a new model for mental health innovation

Under the plan, up to £50 million will be invested over the next five years to:
• Create a 20,000-person volunteer cohort whose securely held health data will be used to explore how biology, lifestyle and environment influence mental wellbeing.
• Establish an Industry Alliance Team to connect innovators and companies with NHS research facilities, trial networks and data platforms.
• Launch a Lived Experience Industry Partnership, ensuring that people who have experienced mental health problems directly shape research priorities, design and delivery.

Science Minister Lord Vallance said the investment reflects a step change in ambition for mental health research.

“Scientific research has led to breakthroughs that are changing the game for physical health problems like cancer and heart disease. We should be every bit as ambitious for what science can do in tackling mental health challenges,” he said.

“By making the right resources readily accessible we can look to a future where mental health is tackled faster, more precisely, and more effectively.”

Health Minister Stephen Kinnock said the funding would support the NHS in developing breakthrough treatments tailored to patients’ needs.

“Too many people across Britain are struggling with poor mental health. It doesn’t have to be this way — and we’re determined to change it,” he said.

“That’s why we’re investing £50 million to back research into treatments that could transform millions of lives, while also hiring 8,500 extra mental health workers and expanding access to talking therapies and digital support.”

The initiative is being co-chaired by Professor Kathryn Abel and Professor Husseini Manji, who described the programme as a “landmark investment” that will unite science, data and lived experience to drive real progress.

Professor Abel said the programme aims to make the UK the “most attractive place in the world for mental health innovation”, while ensuring that industry listens directly to patients.

“At its heart is a new kind of collaboration built on mutual respect and shared purpose,” she said. “We cannot deliver meaningful progress without industry — and industry cannot succeed without listening to those most affected.”

Professor Manji added: “We have the chance to do for mental health what has been done in other areas of medicine — turning cutting-edge science into real breakthroughs that change lives.”

Mental health problems affect one in four people in England and are the leading cause of disability in the UK. The cost to the economy is estimated at £300 billion a year, driven by lost productivity, staff absence and care costs.

The government said improving mental health outcomes is central to its Plan for Change, which ties together health and economic growth missions.

The funding also supports the wider Life Sciences Sector Plan and the 10-Year Health Plan, which aim to shift the NHS from treatment to prevention by harnessing data, genomics and digital health technologies.

Mental health charities and research groups welcomed the announcement.

Rachel Hastings-Caplan of Rethink Mental Illness said: “People living with severe mental illness often face limited treatment options. We are pleased that government is addressing the need for greater investment in mental health research and involving people with lived experience throughout the process.”

Dr Vanessa Pinfold, co-founder of the McPin Foundation, said the focus on lived experience was “a commitment to long-lasting system change”.

Andrew Davies, Executive Director of Digital Health at the ABHI, said: “HealthTech has a vital role to play in improving early diagnosis, treatment adherence and continuous support. This investment represents an important step forward in harnessing the UK’s world-class innovation capabilities.”

Miranda Wolpert, Director of Mental Health at Wellcome, added: “This new investment is a vital step towards unlocking the untapped potential of science to deliver more effective and personalised approaches.”

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£50m government boost for mental health research to deliver better treatments

The LDC Top 50 Most Ambitious Business Leaders 2025 has unveiled its new cohort of the UK’s most dynamic and visionary entrepreneurs, marking the eighth year of the national awards programme that celebrates the country’s growth champions.

Created by LDC, the private equity arm of Lloyds Banking Group, in partnership with The Times, the programme recognises the founders and chief executives behind Britain’s fastest-growing and most innovative medium-sized businesses.

This year’s Top 50 were chosen from almost 700 nominations, reflecting a diverse group of leaders who are not only driving financial success but also creating jobs, championing sustainability, and making an impact in their communities. Together, they employ nearly 10,000 people across 67 towns and cities and generate combined revenues of £1.2 billion.

The winners were celebrated at a gala ceremony at BAFTA in London, where category winners — including The UK’s Most Ambitious Business Leader of 2025 — were officially announced.

The overall title of The UK’s Most Ambitious Business Leader 2025 went to Mark Fitzgerald, founder of CTR Group, a recycling and reuse specialist based in Marchington, Staffordshire.

Since founding CTR in 2014, Fitzgerald has grown the business to £45 million turnover, working with companies across the UK and Europe. Guided by a mission to “waste nothing, reuse everything and protect the planet”, the company processes 1,300 tonnes of unwanted goods each week, repurposing materials for reuse in disadvantaged communities worldwide.

Judges praised Fitzgerald’s resilience, clarity of purpose and vision for sustainable growth, describing him as a “leader transforming the waste industry from the ground up”.

Recognising innovation, growth and social impact

The 2025 awards showcased entrepreneurs driving innovation across every sector of the economy — from tech and retail to education, manufacturing and sustainability.

Barty Walsh, co-founder of ORDO, received The Growth Award for turning the personal care start-up into one of the UK’s fastest-growing oral care brands. Since its launch in 2019, ORDO has achieved 350% revenue growth and 30-fold profit increases, redefining the electric toothbrush market.

Pip Murray, founder of Pip & Nut, took home The Impact Award for building a certified B Corp that supports regenerative farming and produces palm-oil-free, carbon-neutral nut butters. Her company has grown from a small market stall to the UK’s leading nut butter brand, now stocked in 5,000 stores and on track for £40 million turnover next year.

The Trailblazer Award went to Manny Athwal, founder of School of Coding and AI, who turned personal adversity into an international business success. After teaching himself to code, Athwal built a multimillion-pound company now educating 3,000 students across 17 countries each year.

Jos van der Steen and Peter Cliff, co-founders of CONDUCTR, won The International Award for exporting Manchester’s creative talent to a global stage. The duo’s attractions business has designed high-profile projects such as The Curse at Alton Manor and an interactive LED sports court for Norwegian Cruise Line, expanding operations to North America and the Middle East.

Leading change through innovation and sustainability

Innovation took centre stage in this year’s awards. Lee Brooks, founder of Production Park, received The Innovation Award for turning South Kirkby into a global hub for live entertainment production. The site now attracts the world’s biggest artists — including Beyoncé and Coldplay — and is projected to hit £30 million in revenue this year.

Caroline Briggs of Amici was honoured with The Disruptor Award for transforming laboratory operations through intelligent LabOps software. Her system enables biotech and pharmaceutical companies to run labs more efficiently and compliantly, revolutionising procurement in the life sciences industry.

Josie Morris MBE, managing director of Woolcool, claimed The Sustainability Award for pioneering wool-based packaging as a natural alternative to plastic. Under her leadership, Woolcool has become the UK’s first packaging company to achieve B Corp certification, diverting more than 3,000 tonnes of polystyrene from landfill last year.

The People Award went to Peter Ellse, founder of Cosy Direct, who has built a company culture centred on inclusivity and flexibility. Employing part-time parents, ex-offenders, apprentices and neurodivergent adults, Cosy Direct now trades in 46 countries and donates 10% of profits to grassroots charities.

Mike Brennan, CEO of Outdo, received The Resilience Award for growing the Halifax-based outdoor media company despite personal tragedy. Outdo now manages 30,000 advertising sites nationwide, employs 75 people and has tripled turnover in five years.

The Youth Ambition Award — supported by The King’s Trust Enterprise Programme — was awarded to Kwame Boateng, founder of Ingrained Oil, for creating a skin-friendly, cruelty-free fragrance brand while still a university student.

The Rising Star Awards went to Russell Teale of Vivify, Laura Earnshaw of myHappyMind, and Nazanin Nankali of Powertutors, who are each driving transformative impact in education and wellbeing.

The Alumni Award celebrated Martin Taylor of Content Guru, who first appeared in the Top 50 in 2020 and has since expanded his cloud communications firm to a projected £80 million turnover.

Finally, Andrew McLernon and Jay Gorga of Interlink received Highly Commended: One to Watch, recognising their AI-driven innovation and people-first leadership in digital lead generation.

Reflecting on this year’s cohort, John Garner, Managing Partner at LDC, said the Top 50 continues to highlight the strength and resilience of the UK’s entrepreneurial economy.

“In the eight years since we launched The LDC Top 50, we’ve had the honour of meeting some exceptional business leaders,” Garner said. “This year’s group have shown remarkable drive and ambition, building businesses that are making a difference to their people, communities and society at large. Their success stories are only just beginning.”

Read more:
LDC Top 50 Most Ambitious Business Leaders of 2025 revealed

Pete Mills, founder and chief executive of Crysp Ltd, has been named a ‘One to Watch’ in the prestigious LDC Top 50 Most Ambitious Business Leaders 2025, following a year of exceptional growth and innovation for the Bradford-based technology firm.

The annual list, compiled by LDC, the private equity arm of Lloyds Banking Group, in partnership with The Times, celebrates the UK’s most dynamic entrepreneurs and high-growth business leaders. The ‘Ones to Watch’ category highlights emerging leaders and scale-ups making rapid progress and showing strong potential for national and international success.

Founded in 2020, Crysp has grown into one of the UK’s leading providers of safety and compliance management software, working across both public and private sectors. The company combines cutting-edge technology with professional auditing and advisory services to help organisations manage complex regulatory requirements more efficiently.

Based in Saltaire, Shipley, the company employs a team of auditors, operations specialists and software developers, with revenues increasing by more than 50% year-on-year. Crysp’s growth has been fuelled by a deliberate strategy of collaboration, innovation, and strong advisory partnerships.

Among its major clients are EDF Energy, Showcase Cinemas, and hundreds of schools, aesthetic clinics and healthcare providers across the UK.

Crysp’s partnership with Azets, the international accounting and advisory firm with offices in Leeds, Bradford and York, has been central to its financial strategy and expansion plans.

“Building Crysp has been an incredible journey so far,” said Mills, who attended the LDC awards ceremony at BAFTA in London. “To be named among the LDC Top 50 and recognised as One to Watch is a huge honour. It’s a testament to our team, partners and customers who believe in our mission to make safety and compliance management simpler, smarter and more effective.”

He credited early guidance from Victoria Wainwright and Simon Roberts of Azets Bradford for helping Crysp establish solid financial frameworks during its scale-up phase.

“Surrounding yourself with the right advisors is key,” Mills added. “Azets has supported us through financial planning, taxation, and our upcoming expansion into the US, helping us build a sustainable capital growth plan.”

In 2023, Crysp secured investment from Twinkl Hive, the accelerator founded by Jon and Susie Seaton, which has further accelerated its development and market reach.

The company recently won a significant contract with the Catawba Nation, a Native American tribe in the US, supporting major real estate data projects — marking its first major international milestone.

Victoria Wainwright, Managing Partner at Azets Bradford, said the recognition was a “powerful endorsement” of Crysp’s vision and ambition.

“Warmest congratulations go to Pete and the Crysp team for this richly deserved recognition,” she said. “We consider it a privilege to have supported their journey and look forward to the next phase of their growth in the UK and internationally.”

John Garner, Managing Partner at LDC, praised the calibre of this year’s nominees.

“It’s been eight years since we launched the Top 50, and every year we meet exceptional people,” Garner said. “This year’s Ones to Watch have already achieved incredible success — and we can’t wait to see what the future holds for them.”

Looking ahead, Crysp plans to continue expanding internationally while maintaining its core mission: simplifying and improving safety and compliance for organisations of all sizes. The company’s leadership team is focused on sustainable scaling, ensuring its technology and advisory services remain reliable and accessible as it grows.

“Our next chapter is about scaling responsibly,” Mills said. “We’re building for the long term — combining innovation, people and partnerships to deliver better compliance solutions for businesses across the UK and beyond.”

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Crysp founder named ‘One to Watch’ in LDC Top 50 Most Ambitious Business Leaders

Pub landlords and hospitality chiefs have dismissed Sir Keir Starmer’s plan to allow pubs to stay open later, branding the idea “a complete waste of time” amid warnings that extended trading hours will only increase costs and staffing pressures.

The Prime Minister unveiled the proposal on Wednesday as part of a fast-track review of licensing laws, aimed at boosting footfall and cutting red tape for the struggling hospitality sector. He said the move would “allow pubs to thrive” and help revitalise high streets and local economies.

“Pubs and bars are the beating heart of our communities. Under our Plan for Change, we’re backing them to thrive,” Starmer said on Thursday.

However, publicans and trade bodies said the policy failed to address the real problems facing the industry — including Labour’s tax rises and surging operating costs.

‘It will do more harm than good’

Clive Watson, chief executive of the City Pub Company, which runs 50 pubs across Britain, called the plans “total nonsense”.

“It will increase staffing costs and staff will have to travel home late at night,” he said.

Matt Todd, owner of The Wonston Arms in Hampshire, warned that longer hours would not attract more customers.

“Allowing pubs to stay open later is a complete waste of time. It won’t drive more business,” he said.

Others suggested the changes could even reduce profitability by forcing landlords to pay for extra staff, energy, and security during quiet periods.

The criticism comes as many venues continue to struggle with Labour’s Budget tax changes, including higher National Insurance contributions and increased minimum wage costs introduced by Chancellor Rachel Reeves.

The British Beer and Pub Association (BBPA) has estimated that the new measures have added around £14,000 in annual costs per pub.

Steve Alton, chief executive of the British Institute of Innkeeping (BII), said that while some late-night venues might benefit, most pubs would see no meaningful gain.

“Whilst some pubs will benefit, particularly those in the late-night sector, for the majority of our members the impact will be limited,” he said.

Sir Tim Martin, founder of JD Wetherspoon, said Labour was failing to tackle the main issues threatening the trade.

“As it stands today, most pubs are reducing their hours or closing completely,” he said.

Industry figures also pointed to a lasting post-Covid shift in consumer behaviour, with customers choosing to drink earlier in the day rather than stay out late.

Phil Thorley, of Thorley Taverns, said: “For a vast majority, people are drinking earlier, not later. Six pm drinking is the new 9pm since Covid.”

Mr Todd agreed, adding that pubs simply no longer attract late-night crowds.

“If Keir Starmer took a couple of evenings out of his working week to visit pubs midweek, he’d see the reality — there’s nobody there other than the staff waiting for customers,” he said.

A government spokesman defended the proposals, saying the aim was to give landlords flexibility rather than impose new rules.

“Outdated licensing rules and red tape have been holding back pubs and bars for years,” the spokesman said. “This is about giving landlords greater freedom. None will be forced to open late.”

Officials said the review had been “welcomed by the industry” and that it would help pubs put on more events and “bring people together” while contributing to local economic growth.

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Landlords brand Starmer’s late-night pub plan a ‘waste of time’

A new study based on Google search data reveals that Manchester recorded the highest fitness event–related search interest in the UK.

The research by global sports insights platform Smart Betting Guide analysed monthly Google search volumes for fitness event–related terms, including “Hyrox UK,” “Hyrox London,” “Hyrox Manchester 2025,” “Hyrox tickets UK,” “Spartan Race London,” “Spartan Race UK,” and “fitness competitions UK” across 50 UK cities. The search volumes were then compared against 2025 population figures to determine which cities are most actively fuelling the fitness event boom.

Manchester ranks first with 384 searches per 100,000 residents, 217% more than the national average of 121 searches per 100,000 residents. With a population of 395,515, Manchester recorded an average of 1,520 monthly searches. Popular keywords included “Hyrox Manchester 2025,” “Hyrox tickets UK,” and “Spartan Race Manchester.”

Croydon ranks second with 265 searches per 100,000 residents, 118.6% more than the national average of 121. With a population of 173,314, Croydon logged 460 monthly searches. Residents most often looked up “Hyrox London,” “Spartan Race UK,” and “Hyrox sign in.”

Newcastle upon Tyne ranks third with 229 searches per 100,000 residents, 89.3% above the national average of 121. The city’s 192,382 residents generated 440 monthly searches, with common queries including “Hyrox events 2025,” “Hyrox UK,” and “Spartan Race Scotland.”

Looking at the study, a spokesperson from Smart Betting Guide commented: “This data reflects the incredible surge in interest around fitness events in the UK. Manchester, Croydon, and Newcastle are leading the way, showing massive above-average search activity for Hyrox, Spartan Races, and other fitness challenges.

‘With major events expanding across UK cities, 2025 is shaping up to be a landmark year for competitive fitness.”

Cardiff ranks fourth with 192 searches per 100,000 residents, 58.6% above the UK average of 121. The Welsh capital’s 447,287 residents contributed 860 monthly searches, with the most popular terms being “Hyrox Cardiff,” “Hyrox UK,” and “Hyrox tickets UK.”

Bournemouth ranks fifth with 153 searches per 100,000 residents, 26.4% higher than the national average of 121. The city of 163,600 residents carried out 250 monthly searches, most often for “Hyrox London,” “Hyrox relay,” and “fitness events 2025 UK.”

London ranks sixth with 144 searches per 100,000 residents, followed by Leeds (7th) with 138.42, Plymouth (8th) with 138.35, Norwich (9th) with 136, and Warrington (10th) with 133.

Table for Extended Results:

Top 10 UK Cities With the Highest Fitness Event–Related Search Volume

Top 50 UK Cities
Searches per 100,000 Residents
Rank

Manchester
384
1

Croydon
265
2

Newcastle upon Tyne
229
3

Cardiff
192
4

Bournemouth
153
5

London
144
6

Leeds
138.42
7

Plymouth
138.35
8

Norwich
136
9

Warrington
133
10

The study was conducted by Smart Betting Guide, a trusted source for global sports data and trends.

Read more:
These UK Cities Can’t Stop Googling Hyrox, Spartan, and Fitness Events

Jack Dorsey, co-founder of Twitter and chief executive of payments firm Block, has unveiled a new product designed to help small businesses accept and hold bitcoin as an alternative to traditional card payments.

The new Square bitcoin wallet will enable US retailers using the company’s sales platform to convert a portion of their daily revenue into bitcoin automatically, with no transaction fees until 2027.

From this week, sellers on Square’s bitcoin network can opt to auto-convert part of their daily card takings into bitcoin, while from 10 November they will be able to accept bitcoin payments directly and convert up to 50% of daily sales into the cryptocurrency.

After 1 January 2027, Block plans to introduce a 1% processing fee per bitcoin transaction. The feature will initially be available only in the United States, excluding New York, which has tighter digital currency regulations.

Dorsey, 48, described the launch as part of his vision for bitcoin as a “hedge against inflation and economic uncertainty”, arguing that the cryptocurrency provides a more transparent, decentralised alternative to fiat currency.

“You can say that I want 1% of my incoming revenue to be auto-converted to bitcoin, and you just let it sit there,” Dorsey told investors at a launch event in New York. “It will likely increase in value — it’s certainly a hedge against everything that we’re seeing in the economy.”

Dorsey called bitcoin “inherently deflationary”, referencing its finite supply of 21 million tokens and its long-term performance over 16 years.

The entrepreneur, who co-founded Twitter in 2006 and supported Elon Musk’s 2022 takeover of the company, has long been one of Silicon Valley’s most prominent bitcoin advocates. His company Block (formerly Square) has invested heavily in the cryptocurrency and blockchain technology over the past decade.

The new service also marks an attempt to challenge traditional credit card networks, which Dorsey criticised for high transaction fees and limited benefits for merchants.

“More and more sellers are getting frustrated with credit card fees for the value they get back,” he said. “Bitcoin is a good alternative because it has a low cost basis and low fees. It offers the convenience of digital payments without the burden of extra charges.”

Miles Suter, head of bitcoin product at Block, said the aim was to make bitcoin payments as seamless as card payments, while giving small businesses access to financial tools previously reserved for large corporations.

Block’s shares rose 2.6% to $81.11 in New York following the announcement.

Founded in 2009, Square began with a simple mobile card reader that allowed small merchants to take payments via smartphones. It has since evolved into a global fintech platform serving millions of sellers through point-of-sale, banking, and payroll services.

Dorsey rebranded Square as Block in 2021 to reflect its focus on digital assets and decentralised finance. The company’s bitcoin business has become a major revenue driver, handling billions in crypto transactions through its Cash App service.

Dorsey has previously said he believes bitcoin could become “the native currency of the internet”, arguing that digital money offers independence from centralised financial systems and inflationary pressures.

The latest move to integrate bitcoin into retail payments marks the most direct step yet in that vision — and a signal that Dorsey sees cryptocurrency as both a financial tool and a philosophical statement about the future of money.

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Jack Dorsey launches bitcoin payment wallet to rival credit cards

Nigel Farage is expected to meet Sir Jim Ratcliffe, the billionaire industrialist and founder of Ineos, before Christmas as Reform UK accelerates efforts to build relationships with major British business figures.

Ratcliffe, who co-owns Manchester United and is among the UK’s richest individuals with an estimated fortune of £23.5 billion, confirmed that Farage had requested the meeting during an interview for The Business, a new podcast by The Times.

The Ineos chairman, known for his outspoken views on energy policy, has been one of the most vocal critics of Britain’s net zero targets, describing plans to eliminate fossil fuels from the electricity grid by 2030 as “absurd”.

He warned that the combined impact of high energy costs, carbon taxes, and cheap Chinese imports was “crippling” Europe’s chemical industry and putting up to one million direct jobs at risk.

“You could probably multiply that by ten if you look at all the indirect jobs in services — it’s probably ten million jobs in Europe and three-quarters of a trillion euros in value,” Ratcliffe said.

Ratcliffe’s comments come after Ineos announced a series of plant closures and job losses across Europe.

On Tuesday, the company cut 60 jobs — a fifth of its workforce — at its Hull acetyls plant, citing energy costs and the flood of low-cost, carbon-heavy imports from China.

Just a day earlier, Ineos confirmed the closure of two chemicals facilities in Germany, affecting 175 staff. In April, it shut the Grangemouth oil refinery in Scotland, though the site’s chemicals operations remain active.

Ratcliffe said high operating costs were undermining competitiveness: “Grangemouth is a good facility, but it hasn’t made money for two or three years. We’re spending about £130 million a year extra on high energy costs and carbon taxes. Over ten years that’s £1.3 billion — money that should be going into investment.”

Ratcliffe said he had also met Conservative leader Kemi Badenoch, but confirmed that Farage had been the one to reach out directly. Both Reform UK and the Conservatives have signalled their intention to scrap or delay elements of the UK’s net zero targets if elected.

Asked about his political stance, Ratcliffe said he remained “neutral”, but believed many voters were drawn to Farage’s focus on tax, crime, and the economy.

“I think most people would support him if he could sort those things,” Ratcliffe said. “But I’ve always been neutral on political parties. I just want one that runs the country well. I can’t see myself paying for policies.”

The Ineos founder added that Britain had become a “high tax, high immigration, high crime” country, and compared the current political mood to the one that helped Donald Trump win in the US.

He described the prime minister as a “reasonable bloke” but questioned whether he was “too nice” to make the “tough decisions” needed to address structural economic challenges.

Reform UK declined to comment on the forthcoming meeting.

Farage’s outreach to Ratcliffe comes amid growing efforts by Reform UK to position itself as a pro-business party and attract industrial leaders frustrated by high taxes, regulatory pressures, and energy policy uncertainty.

For Ratcliffe — whose company employs 24,000 people worldwide — the discussion will likely centre on the future of British manufacturing competitiveness, energy security, and trade policy in a post-Brexit Europe.

With the UK’s chemical sector warning of shrinking margins and offshoring risk, the meeting could mark the start of a deeper political dialogue between Britain’s industrial base and the emerging Reform movement.

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Nigel Farage to meet Ineos tycoon Sir Jim Ratcliffe as Reform UK courts business leaders

A healthy energy drink brand that secured investment on the BBC’s Dragons’ Den just two years ago has become the show’s most lucrative success story, reaching a valuation of £140 million.

PerfectTed, founded by Marisa Poster and Teddie Levenfiche, has grown from a student start-up into Europe’s leading matcha-based energy drink company — and now stands as the largest supplier of matcha products in the region.

The company’s valuation soared following new investment from venture capital firm Felix Capital, taking the business from a 2023 Dragons’ Den debut to a global brand stocked in over 30,000 stores across 50 countries.

When Poster and Levenfiche appeared on Dragons’ Den in 2023, both were just 25 years old. Their pitch impressed the investors, with Steven Bartlett and Peter Jones jointly taking a 5% stake for £50,000.

At the time, the business had already raised £125,000 from family and invested £250,000 of their own savings to get started. Their all-natural, matcha-based energy drinks were positioned as a clean alternative to caffeine-heavy brands like Red Bull — a fast-growing niche in the wellness drinks market.

Two years on, PerfectTed has exceeded even the dragons’ expectations, delivering the best returns in the show’s 20-year history. The company reported £30 million in projected annual revenue earlier this year, and is now targeting £100 million in the near term.

“This is more than just an investment — it’s fuel for our mission to make matcha accessible to everyone,” co-founder Marisa Poster told The Grocer.

PerfectTed’s rapid ascent has been fuelled in part by Bartlett’s own venture fund, Flight Fund, which helped the business scale production and secure international distribution deals.

Since appearing on the show, PerfectTed has launched an expanded range including matcha lattes, flavoured powders and coffee machine pods, establishing itself as a multi-category beverage brand.

The brand’s drinks are now stocked in major retailers including Waitrose, Holland & Barrett, Whole Foods, and Tesco, and are served through high street café chains such as Caffè Nero and Joe & The Juice.

The company’s 2024 recognition on the FEBE Growth 100 list — highlighting businesses achieving over 500% year-on-year growth — confirmed its position among Britain’s fastest-growing start-ups.

Founded in 2021, PerfectTed has gone from two friends’ £250,000 savings to an internationally recognised brand in just four years. It now aims to become the world’s first billion-dollar matcha company, leveraging growing consumer demand for natural energy drinks and functional wellness products.

PerfectTed’s founders say their mission is to “modernise energy” by focusing on clean ingredients and authentic matcha sourced from Japan. Their success reflects a wider shift among consumers seeking healthier, plant-based energy alternatives.

PerfectTed’s trajectory sets a new record for Dragons’ Den — surpassing all previous investments in both growth and valuation.

While earlier success stories such as Levi Roots’ Reggae Reggae Sauce (backed in 2007) transformed homegrown entrepreneurs into household names, PerfectTed’s £140m valuation demonstrates the global potential of next-generation wellness brands.

The show has also famously passed on future giants such as BrewDog, Gousto, and Pasta Evangelists, making PerfectTed’s journey a reminder of the unpredictable power of start-up storytelling — and a sign that the next consumer powerhouse can come from anywhere, even a TV pitch.

Read more:
PerfectTed’s £140m success: Dragons’ Den’s biggest-ever payday

Gemini Trains, the start-up rail operator aiming to challenge Eurostar’s three-decade monopoly on Channel Tunnel routes, has placed an order with Siemens Mobility for a fleet of next-generation high-speed trains.

The order, covering an initial ten new Velaro Novo trains, marks a major step in Gemini’s plan to operate competitive passenger services between London, Paris, Brussels and Cologne. The company, which is partnering with Uber, intends to integrate its ticketing and connections through the Uber app — potentially branding the new services as Uber Trains.

Gemini said the Siemens trains could be part-assembled at the company’s new Goole facility in East Yorkshire, a move that would add a UK manufacturing dimension to the cross-border project.

“Our collaboration with Uber, Siemens and Rock Rail creates a powerful partnership towards our goal of running competitively priced trains connecting the UK to France, Belgium and, for the first time ever, Germany,” said Adrian Quine, chief executive of Gemini Trains.

Founded by a team of transport veterans and chaired by Lord Berkeley, Gemini is one of three new operators seeking permission from the Office of Rail and Road (ORR) to launch competing international high-speed services.

Eurostar has enjoyed exclusive access through the Channel Tunnel since its launch in 1994, but the market is now opening to rivals amid calls for greater competition, lower fares and expanded destinations.

Gemini plans to operate from Stratford International in east London rather than Eurostar’s crowded St Pancras terminus and hopes to reopen the mothballed international station at Ebbsfleet in Kent, creating additional capacity for travellers.

The company’s entry will be backed financially by Rock Rail, a major rolling stock investment firm that competes with established UK lessors Porterbrook, Angel and Eversholt.

The Siemens Velaro Novo — the model ordered by Gemini — represents the next evolution of the Class e320 trains used by Eurostar since 2015. The new version promises greater energy efficiency, lighter construction, and higher passenger capacity, making it suitable for both the UK’s electrified rail network and European high-speed lines.

The order also boosts Siemens’ £200m Goole manufacturing site, which opened last year to assemble and service rolling stock for the UK market.

Eurostar is currently undertaking its own fleet renewal programme and is expected to face political pressure to favour France’s Alstom for its new orders. Rival prospective operators, including Virgin Trains and a joint venture between Italy’s FS and Spain’s Cosmen family, are also believed to be considering Alstom-built models such as the Frecciarossa.

Despite growing momentum, no new cross-Channel operators are expected to begin passenger services before 2030, as bids are reviewed and infrastructure agreements finalised.

While the Channel Tunnel has spare track capacity, depot and maintenance space remains constrained — particularly at Temple Mills in Stratford, where Eurostar’s fleet is based. Additional facilities will be required to accommodate any new entrants.

Still, Gemini’s investment and partnership model — combining Uber’s consumer reach, Siemens’ engineering expertise, and Rock Rail’s financing power — positions the start-up as the most credible contender yet to take on Eurostar’s long-standing dominance of the European high-speed market.

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Gemini orders new Siemens trains as Uber-backed start-up takes aim at Eurostar