Author: Sam Allcock

New research reveals that ineffective talent acquisition strategies are stunting business growth, with one in four business leaders admitting their company’s expansion is being held back by flawed recruitment processes. The findings, from a survey conducted by enterprise hiring software provider SmartRecruiters, show the growing concern among businesses in the UK, US, and Australia over how they acquire talent. The report highlights that 34% of leaders are uncertain if they have hired the right people, and more than half believe their current strategies are insufficient. The survey, which interviewed 500 mid-sized companies, found that despite significant investments in talent acquisition,…

As the UK faces a 20-year high in insolvency rates, Clarke Bell, a leading insolvency firm, warns that the forthcoming Autumn Budget could exacerbate the financial challenges confronting many businesses. Scheduled for 30th October 2024, the Budget is expected to unveil tax changes and spending cuts that could further strain small to medium-sized enterprises (SMEs), potentially leading to a wave of liquidations. The current landscape is grim, with businesses now three times more likely to enter liquidation than they were before the pandemic. Clarke Bell urges company directors to take prompt action by considering options such as Creditors’ Voluntary Liquidation…

In an era where workplace stress is rampant, the wellbeing of C-Suite executives is increasingly jeopardised. A recent study by Deloitte reveals that a staggering 70% of C-Suite leaders are at risk of burnout and contemplating a move to companies that provide better workplace cultures. This alarming statistic raises urgent questions about how businesses can enhance their support for employee wellbeing and mitigate burnout. David Banaghan, Interim CEO at recruitment software company Occupop, highlighted the pressing issue, stating that burnout accounts for 20% to 50% of employee turnover. He suggests that implementing sabbaticals could be a significant step towards improving…

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…