Author: Sam Allcock

At IBM’s annual TechXchange event, the company unveiled its latest and most advanced family of AI models, Granite 3.0. This third-generation flagship language model line is designed to outperform or match similarly sized models from leading providers on various academic and industry benchmarks, showcasing strong performance, transparency, and safety. IBM’s commitment to open-source AI is evident in the Granite models, which are released under the permissive Apache 2.0 license. This unique approach combines performance, flexibility, and autonomy, catering to enterprise clients and the broader community. Granite 3.0 Models Overview The Granite 3.0 family includes a variety of models tailored for…

New data from Purbeck Insurance Services reveals a notable decline in the value of personal guarantee-backed loans for small businesses in the UK during the third quarter of 2024. As firms navigate an increasingly uncertain economic landscape, borrowing habits are shifting in response to rising energy prices and impending budget announcements. The latest Personal Guarantee Insurance Monitor highlights that the average loan amount for start-ups—businesses under two years old—has fallen by a staggering 38% year-on-year, now standing at £94,265. This represents the lowest recorded value to date for loans issued to start-ups. Overall, the average value of personal guarantee-backed small…

Lionel Hitchen, a prominent supplier of natural flavours and flavour ingredients to the food and beverage industry, has been honoured as one of the Top 200 Women-Powered Businesses in the UK for 2024. This prestigious recognition comes from a detailed analysis of the women-powered ecosystem in the UK, a joint initiative by J.P. Morgan Private Bank and Beauhurst. This accolade highlights the remarkable progress Lionel Hitchen has made since Eva Agnew took the helm as CEO in 2012. Under her leadership, the company has experienced significant growth, primarily due to a steadfast commitment to manufacturing excellence and the implementation of a…

Heitman LLC, a global real estate investment management firm, has announced the acquisition of a self-storage site located in Galway, Ireland. This strategic move further solidifies Heitman’s U-Store It brand as the leading provider of self-storage facilities across the country. The acquisition is part of Heitman’s broader global core plus strategy, highlighting the firm’s strong confidence in the European self-storage market, particularly in Ireland. The newly acquired property spans approximately 72,000 square feet, with an additional 36,000 square feet designated for potential future expansion. Positioned within a prominent business park, the site is conveniently located just 10 minutes from Galway’s…

A freelance videographer from Swanage has seen his career take off following an £800 grant from the Dorset Community Foundation’s SWEF Enterprise Fund. Richard Koburn, 28, used the funding to purchase a new gimbal, enabling him to produce smoother, more professional-looking footage and expand his business. The SWEF Enterprise Fund is designed to assist young individuals aged 18 to 30 who face financial challenges or other disadvantages in starting their own businesses. For Koburn, the grant has played a pivotal role in transforming his life, particularly after a challenging start. Leaving school at the age of 15 without qualifications, Koburn…

A Black Country manufacturer specialising in the metal forming industry, Bowers & Jones, has announced a £500,000 investment in advanced machinery aimed at enhancing its export operations. Based in Bilston, the company has acquired a state-of-the-art Doosan Puma VTR1216F vertical turning centre from South Korea, a move set to significantly bolster its North American sales, which currently account for 50% of total revenue. The new vertical turning centre is a key component of a larger £1 million investment initiative by Bowers & Jones, designed to replace older machinery with more efficient and precise equipment. This purchase marks the company’s most…

A groundbreaking conference aimed at promoting exports and global opportunities for Welsh businesses is set to take place in November. The inaugural Global Reach Out – GOT24 Wales conference is organized by the Wrexham-based International Trade Support Group (ITSG) and Antur Cymru, in collaboration with Powys County Council and funded through the UK Government’s Shared Prosperity Fund. Scheduled for Tuesday, November 5, at the Metropole Hotel in Llandrindod Wells, the event will run from 9 am to 4 pm. It will feature international business leaders, including Nicholas Ryan, founder of Thomond Gate Whiskey, alongside speakers from Japan, the US, and…

Added Value Enterprises (AVE), a specialist in food and catering management, has announced the appointment of Adam Brett as its new Business Development Manager. This strategic move is aimed at strengthening the company’s sales division across key sectors including education, care, hospitality, and leisure. Adam Brett joins AVE with a wealth of experience, bringing nearly two decades of expertise from various sectors. He previously held sales roles at Sky Television and worked with the global food services and facilities management firm, Sodexo. In his new role, Brett will be responsible for expanding AVE’s reach and enhancing its bespoke procurement, consultancy,…

Pan Global Resources Inc. has announced that it is increasing the size of its private placement financing from an initial $3 million to $7 million, following strong demand from European institutional investors. The Canada-based mining company, which holds significant mineral rights in southern Spain, is raising additional funds to support its ongoing exploration efforts in the region, particularly at its Bravo target, a promising copper mining area. The non-brokered private placement was initially launched with the intention of raising up to $3 million through the sale of 25 million units of securities, priced at $0.12 per unit. However, Pan Global’s…

A new study has highlighted the best-performing sectors for business growth in the UK, with Health and Social Care emerging as the leader. The research, conducted by MRP software firm MRPeasy, used data from the Office for National Statistics (ONS) to track business success from 2022 to 2024. The study ranked industries based on the net growth of businesses, focusing on sectors that saw the highest number of business registrations. Health and Social Care businesses have flourished over the two-year period, growing by 8.06%, making it the most successful industry for new ventures in the UK. Since 2022, 8,540 new…