Business News Round Up (13/07/2026)
Almost 4,000 small businesses miss out on full rates relief
Almost 4,000 small businesses across Scotland will miss out on full rates relief this year after the Scottish government refused to pause its controversial revaluation of commercial premises, according to new data. Public service reform secretary, Ivan McKee, has confirmed the fall in businesses qualifying for 100% relief through the small business bonus scheme. A Scottish government source said that the figures for this year, down from 100,700 to 96,900, are still based on estimates but acknowledged the drop in premises receiving full relief was because of the revaluation. Garry Clark, Scottish engagement manager for the Federation of Small Businesses, said: “The Scottish government’s decision to freeze the already reduced threshold for the SBBS, coupled with an average increase in valuations of over 12% was always going to mean that thousands of Scotland’s smaller businesses were set to lose out financially as a result of the latest business rates revaluation.”
https://dailybusinessgroup.co.uk/2026/07/almost-4000-small-firms-miss-out-on-full-rates-relief
Chancellor to unlock billions in finance for small businesses
Tens of thousands of small businesses to receive a boost, as Chancellor Rachel Reeves announces most significant reforms to small business finance in years. 12,000 additional SMEs per year to receive support accessing finance as Growth Guarantee Scheme expanded significantly. £500 million government funding allocated to back innovative SMEs and scale ups. New support for community lenders, finance for innovation, and exporters. The changes will help businesses grow, invest and create jobs across the country. It delivers on the government’s commitment to make the UK the best place to start and grow a business – ensuring that hard work and ambition are met with the finance to match. The gap between the SME demand for finance and the amount available is estimated to be between £1.6 billion to £4.1 billion per year. Improving this access is key to unlocking greater business investment, growth and productivity across the UK.
https://www.gov.uk/government/news/chancellor-to-unlock-billions-in-finance-for-small-businesses–2
Scottish National Investment Bank outlines new strategy
The Scottish National Investment Bank has updated its investment strategy and revealed plans for a new spin-out fund. The development bank’s Investment Strategy and Business Plan for 26/27 detailed plans “to design a fund to support innovative businesses emerging from Scottish universities in the coming year”, building upon the £100m it has already invested in university-derived businesses. As for changes across its three broad investment themes, the innovation mission – which previously targeted technology and life science innovation – will now be sector agnostic. “Its focus moving forward will be on businesses with demonstrated growth and a differentiated position in the market, and it will be looking at how AI is effectively embedded within companies where it’s integral to their service or product,” read a statement. The place mission will focus on expanding the bank’s all-tenure approach to increasing the supply of homes for communities around Scotland.
Business failures in West Midlands rise as UK administrations reach highest level since 2010
Business failures in the West Midlands have continued to rise, with 90 companies filing for administration in the first half of 2026. New analysis from law firm Shakespeare Martineau reveals a 61% increase from the 56 administrations recorded during the same period in 2025. Analysis of data from The Gazette Official Public Record showed that the West Midlands was the UK’s fourth worst-hit region for administrations during the first half of 2026, behind Greater London (479), the North West (158) and the South East (102). The figures form part of a wider national picture, which saw UK administrations reach their highest level since 2010. Across the country, 1,159 companies entered administration in the first six months of 2026 – a 48% increase from the 783 recorded during the same period in 2025. The total also marks the first time administration volumes have exceeded pre-pandemic levels (940 in 2019).