Author: Scott Dylan

Volvere, a prominent name in turnaround investments, has announced a record revenue of £22.2 million for the first half of 2024. The London-listed company’s strategic cost management contributed significantly to this achievement. Benefiting from stabilised raw material costs, Volvere’s subsidiary, Shire Foods, has played a crucial role in this financial success. Anticipating further growth, Volvere is well-prepared for the upcoming colder months, demonstrating its commitment to operational efficiency and customer satisfaction.Stabilising Costs and Surging ProfitsTurnaround investment specialist and frozen pie manufacturer, Volvere, has marked a significant financial milestone in 2024. The company’s latest financial report reveals a substantial increase in…

A recent report has highlighted that a staggering 72% of companies in the United Kingdom are contending with significant skills shortages, particularly in areas such as artificial intelligence (AI), data analytics, and cybersecurity. This deficit is resulting in a substantial productivity loss of approximately £275 million annually.Amidst these challenges, businesses are increasingly adopting strategies such as ‘quiet hiring’, upskilling their existing workforce, and deploying AI tools to bridge these gaps without expanding headcount. The use of AI to address these skill shortages has surged by 42% over the past year.Despite considerable investments in digital transformation, many UK firms continue to…

The UK rental market crisis has intensified, with a staggering 21 hopeful tenants vying for each available property. This fierce competition has been driven by a significant reduction in available rental homes, now 24% lower than before the pandemic, according to Zoopla. The lack of supply is attributed to landlords’ reluctance to enter or expand within the market, coupled with existing landlords exiting due to regulatory and tax changes.Rents across the UK have surged by 30% over the past three years. Although the pace of rental inflation has now slowed to 5.4% annually, it still surpasses the 5.1% growth in…

The Office for Budget Responsibility (OBR) has issued a stark warning regarding the UK’s future public finances. The independent watchdog’s latest report projects that public debt could swell to 300% of GDP within the next 50 years, driven by a combination of ongoing policy decisions and emerging fiscal pressures.The OBR’s projections reveal a troubling trend for the UK’s fiscal future. Public spending is anticipated to rise from 45% to over 60% of GDP by 2073, while government revenues are expected to linger around 40%. Under the baseline scenario, public debt is forecasted to hit 274% of GDP by the late…

Joseph Adams, a remarkable 21-year-old from Altrincham with Down Syndrome, has captured the support of the business community by completing 10 gruelling 10km runs in 10 different countries across Europe, raising over £320k for a disability sports programme.Over six intense days, Joseph tackled the challenge of running 10x10ks, concluding his journey in his hometown of Altrincham at the Alti 10k on Sunday, 1 September. Beginning on 27 August in Amsterdam, his rigorous route took him through Liege, Luxembourg City, Heidelberg, Bregenz, Zurich, Como, Monaco, Nice, and finally back to Altrincham.Running two 10ks each day, Joseph endured intense temperatures but impressively…

New research by HSBC reveals that nearly one in five female business leaders view funding as a significant obstacle to scaling their enterprises. This initiative comes at a crucial time, as nearly half of these leaders plan to expand their operations, either domestically or internationally, in the coming year.Securing financial support remains the top challenge for one in ten female business leaders. Furthermore, one in five women have delayed or cancelled their business plans due to difficulties in accessing finance.The HSBC Women’s Business Growth Initiative aims to bridge the credit gap for women-led businesses, which is estimated at $1.7 trillion…

Prima Bakeries Group has announced its acquisition of renowned biscuit maker Furniss of Cornwall. This move unites two iconic Cornish brands, aiming to blend tradition with innovation and expand market presence.This strategic acquisition will see the integration of Furniss’s 30 employees into Prima’s Employee Ownership Trust, facilitating an exciting era of growth and opportunity within the Cornish baking industry.Strategic Acquisition and Employee IntegrationPrima Bakeries Group, a prominent name in the Cornish baking industry, has expanded its portfolio through the strategic acquisition of Furniss of Cornwall, a company renowned for its original Cornish Fairing biscuits. This merger is not merely a…

The trade group is raising alarms over the EU’s forthcoming Entry/Exit System (EES), set to launch on 10 November, which mandates fingerprint and facial recognition checks for all non-EU passengers at Dover.According to Logistics UK, these new requirements could create severe tailbacks and jeopardise the smooth movement of goods. The organisation has called for a nationwide awareness campaign to mitigate potential chaos at borders. Research indicates that the EES will extend the processing time for a car with four passengers from under a minute to as much as seven minutes. A study by Imperial College London estimates that each additional…

Boohoo has announced plans to serve its American customers from Sheffield, as Executive Chairman Mahmud Kamani navigates ongoing challenges.Despite facing numerous challenges this year, Executive Chairman Mahmud Kamani of Boohoo has revealed plans to cater to the company’s American customers from Sheffield. This strategic move signifies a pivotal development for Boohoo as it aims to enhance its international operations and adapt to an evolving market landscape.In the MedTech sector, robust performance continues to be observed despite prevailing headwinds. Meanwhile, a cleaning technology business has issued a profit warning, underscoring the varied fiscal health across different industries.Efforts to rebuild a prominent…

The publication of a new report today stresses the urgent need for a new rail link between the West Midlands and North West to avert existing infrastructure from becoming “major barriers to economic growth”.The report presents a proposal for a new 50-mile line, which aims to attract private sector investment and achieve nearly all the benefits of the original HS2 plan at a significantly reduced cost. This initiative is led by a consortium commissioned by West Midlands Mayor Richard Parker and Greater Manchester Mayor Andy Burnham. This follows the Government’s cancellation of phase two of HS2, which originally planned a…