Business News Round Up (28/07/2026)
Scottish businesses turn to self-funding as growth confidence dips in H2
68% of private business owners in Scotland are confident in delivering growth in the second half of 2026, according to KPMG. At the start of 2026, KPMG’s annual Private Enterprise Barometer surveyed 1,500 privately owned businesses across the UK, including 119 in Scotland, spanning sectors such as professional services, financial services, technology, industrial manufacturing and retail, to understand their growth ambitions and priorities for the year ahead. Six months on, following a challenging period for the UK and global economy amid instability in global energy markets, persistent inflation and trade restrictions, KPMG returned to these businesses to understand how changing economic conditions have influenced their outlook. 87% of private businesses in Scotland expressed confidence in their growth prospects for the next 12 months. By the mid-year mark, this sentiment has fallen, with confidence levels now at 68%, reflecting a change in expectations for growth during the remainder of the year.
North West sees rise in listed company profit warnings
UK-listed companies in the North West issued nine profit warnings during Q2 of 2026, latest figures from the latest EY-Parthenon’s Profit Warnings report show. This is triple the number issued during the same period last year (three), marking the region’s highest Q2 total since 2020. Almost half of North West Q2 warnings (four) came from businesses operating in the industrials FTSE super-sector. Other warnings came from a variety of sectors, highlighting that current headwinds are affecting businesses across the region’s economy. The South East (19 profit warnings) and London (15) were the only regions to see more warnings issued than the North West during Q2. Across the first half of 2026, listed companies in the North West issued 13 warnings – the highest H1 total since 2023 when there were 14. Overall, UK-listed businesses issued 59 warnings during the second quarter, up slightly from 55 in the first quarter.
https://lbndaily.co.uk/amp/north-west-sees-rise-in-listed-company-profit-warnings
Two-thirds of small businesses unprepared for new digital tax deadline
With under two weeks remaining until the first Making Tax Digital (MTD) for Income Tax submission deadline, new research from Bank of Scotland suggests that two-thirds (65%) of small businesses in Scotland still have work to do before they are ready to comply with the new rules, compared with 55% of small businesses UK-wide. The findings come as sole traders and landlords move to HMRC’s MTD for Income Tax requirements, which asks eligible taxpayers to maintain digital records and submit quarterly updates using compatible software. Martyn Kendrick, regional director for Scotland at Bank of Scotland, said: “Making Tax Digital represents one of the biggest administrative changes many sole traders will have experienced for years. Our research suggests that while businesses recognise the benefits of digital record keeping, many are still working through what they need to do before the first submission deadline.
£1bn UK Scale-up Fund to back science and tech businesses
A consortium of some of the UK’s largest pension providers have committed to exploring the establishment of a first-of-its-kind vehicle dedicated to investing in scaling UK science and technology businesses. The potential £1 billion fund would seek to deliver strong long-term returns for pension providers and their members while also helping innovative businesses to scale and commercialise new technologies. The British Business Bank is working alongside them to support the launch of the UK Scale-up Fund and with the intention of investing in partnership with the group. The Office for Investment is also supporting the consortium. Prime Minister Andy Burnham said: “Today sends a clear message: this is a vote of confidence in British business, British talent and British ambition. This new fund would help unlock good growth in every postcode, connecting pension investment with the entrepreneurs and technologies that will reindustrialise Britain and create the jobs of the future.”
https://businesscloud.co.uk/news/1bn-uk-scale-up-fund-to-back-science-tech-businesses