Features
With registered company insolvencies the highest they have been for a decade, and 50% of new businesses failing within three years, many SMEs face financial trouble; to the point of having to fold. This usually comes down to finances. Many small business owners don’t have any accounting qualifications, may never have seen a cash flow statement before, or understand the nuances in respect of tax and VAT. Michael Steed, President of AAT (Association of Accounting Technicians), shares the ‘danger’ signs small businesses need to look out for which indicate they may be in difficulty, and what they can do if they find themselves in financial trouble.
UK startups face a stark challenge: early-stage graduation rates, from Seed to Series A funding, have dropped dramatically from 12.5% in 2020 to just 4.5%. This trend highlights deep-set vulnerabilities in the UK’s startup ecosystem, compounded by a notable slowdown in new tech company incorporations. These shifts have serious implications for the UK’s ability to foster innovation and economic growth.
When it comes to building a sustainable business, the road from ideation to implementation can be challenging, tough, brutal, emotional… but also immensely rewarding. At Growth Studio, we’ve been fortunate to guide hundreds of startups through this journey, particularly through our work with the recent Amazon Sustainability Accelerator where we put these principles into real action (and for context, the startups we have worked with at Amazon have raised over £39 million in the past three years and increased their sales by over 700%).
The digital transformation of the UK’s immigration system will have consequences for employers and employees. Our clients are making sure they are up to speed with the Electronic Travel Authorisation (ETA) and the eVisa. The ETA is an electronic form that visitors who don’t need to apply for a prior visa will now have to fill to visit the UK, while the eVisa is set to replace physical evidence of immigration status for accessing rights such as employment, rent, travel to the UK, health and welfare by the start of next year.
Personalisation has become one of the most useful tools for business. It can help enhance customer service and experience and drive sales. However, with customers becoming increasingly protective of their data and businesses able to access so much of it, privacy also matters. So, how can businesses strike the balance between personalisation and privacy without crossing ethical lines?
The United Kingdom is steadily emerging as a key player in the AI space, attracting the highest AI investment in Europe and ranking third globally, surpassed only by the United States and China. This success has been bolstered by the UK government’s commitment to fostering growth in the sector, however, it now stands at a critical juncture.
As we now know a second Trump presidency looms on the horizon, the American manufacturing sector finds itself at a critical juncture. The policies and priorities of a potential Trump administration could significantly reshape the landscape of US manufacturing, with far-reaching implications for the industry’s competitiveness, workforce, and global positioning.
As the year draws to a close, it’s the perfect time to reflect on some of the standout moments from The Cereal Entrepreneur podcast. This year we have had the pleasure of talking to a wide array of figures in the startup ecosystem, from founders of early-stage startups, to angel investors and venture capitalists, to all of the winners of the 2024 Hustle Awards.
Managing suppliers can be a major efficiency driver for small and medium-sized businesses (SMBs), but it also risks being a drain on resources. On average, SMBs engage nine times as many suppliers as they have employees, while only working closely with a few. This disconnect presents a big opportunity for streamlining, as inactive suppliers cost UK businesses an estimated £1 billion annually.










