Business News Round Up (16/05/2025)
North West insolvency-related activity hits 25-month high and leads UK tale of woe
Insolvency-related activity in the North West hit a 25-month high in April 2025, according to new research from R3, the UK’s insolvency and restructuring trade body. R3’s analysis of data, provided by Creditsafe, shows there were 473 cases of insolvency-related activity in the North West in April. This was the highest number on record since March 2023’s figure of 476, and a 20.4% increase on April 2024’s total of 393. Insolvency-related activity, which includes administrator and liquidator appointments along with creditors’ meetings, have risen every month since the start of the year, with April’s figures 3.5% higher than March’s total of 457. Compared with the rest of the UK, the North West saw the highest number of insolvency-related activities in April, followed by Greater London (436), East Anglia (345) and the West Midlands (236).
Scotland ramps up export support with focus on US
Scotland is set to implement a new six-point export plan aimed at bolstering trade and assisting companies in navigating global challenges. Announced within the First Minister’s Programme for Government, a key element involves creating a dedicated US Export Plan to pinpoint promising American states for Scottish products. Other steps include increased funding for product development, market research and attendance at international trade shows. Within the current financial year, the Six Point Export Plan will: produce a US Export Plan to identify states offering the best markets for Scottish products, as part of wider support for trade with North America; use the International Growth Support Programme to unlock opportunities through trade shows, distributor visits, market research and product development; bring more global buyers to Scotland to showcase what companies have to offer; expand funding for overseas trade missions through the International Trade Partnership with Scottish Chambers of Commerce.
https://www.scottishfinancialnews.com/articles/scotland-ramps-up-export-support-with-focus-on-us
North West SME manufacturers set to gain from expanded Made Smarter digital leadership programme
North West SME manufacturers are being offered a major opportunity to embed the strategies and skills needed to thrive in the digital age. The University of Salford and Manchester Metropolitan University have been named as delivery partners for Made Smarter’s Leading Digital Transformation (LDT) programme – a government-funded, industry-led initiative aimed at accelerating digital adoption across the North West’s manufacturing sector. With additional funding now secured, the programme is set to support 40 more SME manufacturers over the next year, including a significant number from Greater Manchester. Tailored specifically for business owners and senior managers, the fast-track programme equips participants with the knowledge and tools to lead digital change, develop bespoke digital strategies, and implement advanced technologies within their operations. It also addresses the cultural shift needed for successful transformation, focusing on engaging teams and aligning stakeholders around innovation goals.
UK business investment surges at fastest pace in two years, defying tax hike fears
Business investment in the UK jumped by 5.9% in Q1 of 2025, marking the fastest pace of growth in two years and easing concerns that recent payroll tax increases would curb private sector spending. According to the Office for National Statistics (ONS), the sharp rise in investment from January to March helped lift overall economic growth to 0.7% in Q1, with business spending alone contributing 0.5 percentage points. The rebound follows a 1.9% contraction in Q4 of 2024 and marks the strongest investment figures since early 2023. The unexpected surge also helped offset a drop in government expenditure, driven by lower public sector spending on health and education in the lead-up to next month’s departmental budget review. The data comes after widespread warnings from large employers and trade groups that increases in employers’ national insurance contributions and the national living wage could dampen business sentiment and lead to cutbacks.