Despite small businesses single handedly generating a quarter of the UK’s GDP, over a quarter (26%) of small business owners have next to no accounting knowledge. In fact, accounting is the reason many budding entrepreneurs don’t get a business off the ground with one in 10 people put off starting a business by tax and accounting.
Sooma Medical announced it had secured new growth funding of €5 million. The investment round was spearheaded by Voima Ventures, a Nordic early-stage investor focusing on science-based solutions. This funding signifies a significant milestone for Sooma, underscoring its commitment to enhancing global access to treatments for depression and offering effective care for individuals grappling with mental health issues.
Artificial intelligence (AI) has come into its own in the last few years. No longer abstract, it is accessible and affordable for almost all sectors and sizes of business, bringing the potential for tangible benefits when correctly applied. That’s why 15% of UK businesses, and 68% of large companies, already use at least one AI technology, and many more are planning to invest in AI tools.
Today, the Technology Secretary unveiled a campaign designed to bolster investment in scaleups, featuring podcast advertisements, billboards, and more, all showcasing science and technology scaleups to British investors. The ‘Science and Tech is our Superpower’ campaign is focused on ensuring that UK-based science and technology companies poised for expansion have access to the necessary funding from within the UK, aiming to stimulate long-term economic growth and job creation.















