Many businesses in the UK are both getting paid - and paying - later, with the COVID-19 pandemic causing a surge in late payments. According to the latest independent research from Close Brothers Asset Finance, three in five UK SMEs have experienced delays in receiving payments, while a significant number of business owners have admitted to being forced into delaying paying invoices.

In light of the business loan scheme statistics out today, Stephen Kelly, Chair of Tech Nation has shared his thoughts.

New research from Santander UK reveals that a third (32%) of the UK’s SMEs who implemented changes plan to make their COVID-19 adaptations a permanent feature post-pandemic as almost half found they not only survived, but actually grew their customer base during COVID-19. The study – which polled 2,050 senior leaders in UK SMEs – suggests that the pandemic has driven long-term change to the way businesses operate.

With the acquisition of eSoftThings, an expert in the Internet of Things (IoT) and Artificial Intelligence (AI), based in Cesson-Sevigne (Rennes metropolitan area, France), LACROIX Group has consolidated its R&D division already present in Brittany in the area and strengthened its positioning in the industrial IoT and AI, particularly in the field of connected vehicles.

Israeli medical startup, NanoVation has been awarded a €2.5m grant as part of the European Union’s prestigious Horizon 2020 EIC Accelerator program. The Haifa-based company is developing a new respiratory monitoring device, based on its proprietary nano-sensor technology.

COVID-19 (coronavirus) has significantly impacted businesses, but even more so for social entrepreneurs, BAME founders and females due to the difficulties and challenges around access to support, finance and funding as well as structural inequalities. We are on a mission to work closely with these founders to help them flourish in the face of adversity.

“I never put myself forward for awards, so this was a really nice surprise,” is what Tamsin Dewhurst, Founder at Uptree said to me when I asked how she felt about winning our Founder of the Year award in this year’s Virtual Hustle Awards.

Creator Fund, the university-focused venture capital fund, has released its “State of Student Startups” report, which gives a comprehensive national picture of what the UK’s best young minds are starting, and how to best support them. The report found that more than half of UK campus ventures have a foreign student founder.

Edinburgh-based startup, Boundary is preparing for the official launch of its smart home security system in August, and will use the funding to complete product testing and for its post-launch operations.

Ag-tech startup, Consumer Physics, is introducing SCiO Cup - according to the company it is the world’s fastest, portable, lab-grade forage dry matter analyser. The smartphone-operated device transforms feed analysis by enabling frequent dry matter analysis. SCiO Cup enables on-farm decision making ensuring consistent dry matter intake and reducing feed leftovers. In addition, SCiO Cup can be used on-field for planning silage harvest timing at optimal moisture levels.

Maskey, the brand behind the UK’s first mask vending machines, has signed a deal with leading British retailer WHSmith to stock its individual fashionable face coverings on the shelves of hundreds of outlets on high streets and in train stations, airports and hospitals.

With businesses across the world seeing the tangible benefits of a mobile workforce over the last few months, returning to the office may become temporary as working from home potentially becomes a new way of working, according to research collated by Instant Offices. 

Moneybox, the award-winning saving and investing app, today announces it has secured £30m in Series C funding earlier this year from existing investors including Eight Roads, and new investors Breega and CNP. Moneybox also reveals it now has £1bn in assets under administration, and announces plans to bring customers closer to its growth journey through an upcoming crowdfund.

When starting a business, the implementation of a Customer Relationship Management (CRM) system may seem like an additional and unnecessary expense, but committing to it from the outset will realise a number of benefits including the development of a clear and focused sales strategy, together with the opportunity to strengthen new client relationships.

Roundups is a new donation app that helps charities with their fundraising whilst the economy continues to battle through challenging times. The app links with users’ payment cards in order to round up their payments and donate pennies to their chosen charity as they spend.

White Castle has announced a planned pilot with Miso Robotics - creators of the autonomous grilling and frying kitchen assistant, Flippy - to accelerate the adoption of Artificial Intelligence and robotics in the restaurant industry.

Over the years we’ve seen Twitter celebrities get their accounts hacked. But this recent hack goes way beyond anything we’ve seen before. This latest security breach calls into question the security of Twitter and social media platforms and even the foundation technology they are built upon.

tripAbrood, the travel business set to reinvent the online family travel experience, has become part of the UK’s startup elite by being named a TechRound 100 Finalist alongside a host of innovative brands including Too Good To Go, Pip & Nut and lockdown favourite Zoom.   

Johnathan Bulmer, MD at Cleveland Containers here chats to Startups Magazine about how three food and drink businesses pivoted in the pandemic. As restaurants and other leisure businesses steadily start to reopen, there’s many stories of businesses which have been heavily impacted by the financial crisis the pandemic has caused. 

Startup Summit, an international festival of entrepreneurship, has announced dates for its 2020 edition and first headline speakers from globally-recognised brands including David Wilding, Director of Planning at Twitter, Irana Wasti, Regional President for GoDaddy EMEA, and Matt Davey, Chief Operation Optimist at 1Password