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Most of Britain’s small and medium-sized enterprises (SMEs) are looking ahead to 2025 with confidence, despite lingering economic uncertainties, recent budgetary pressures, and global geopolitical concerns.

New survey data from KPMG and Aviva show an optimistic picture emerging among the nation’s business owners, who expect increased demand, international expansion, and a focus on new products and services to support their growth aspirations.

KPMG’s poll of 1,500 privately owned companies from sectors including technology, finance, manufacturing, and retail revealed that 92 per cent of respondents are upbeat about the year ahead. This sentiment was echoed by a separate Aviva survey of about 500 smaller businesses, in which 89 per cent were confident going into 2025.

KPMG noted that much of the optimism centres on expectations of rising demand at home and abroad. Many companies also plan to launch new offerings and move into fresh markets, particularly in Europe and North America. Longer-term, the outlook is equally encouraging, with 85 per cent of Aviva’s respondents anticipating doing more business in five years than they do today.

“2024 has been turbulent, so it’s encouraging to see private businesses showing resilience and casting a positive outlook for 2025 and beyond,” said Euan West, head of KPMG’s private enterprise practice in the UK and Europe. However, he cautioned that next year would still bring its challenges.

A key concern is cost pressures: just over a third of companies in KPMG’s survey believe that the increases to national insurance contributions and the national minimum wage announced by Chancellor Rachel Reeves in the October budget will squeeze their profit margins. Yet rather than scaling back, most SMEs plan to invest more in technology—especially artificial intelligence—to enhance operational efficiency and counter rising costs.

The surveys indicate that these businesses will not only focus on tech-enabled productivity gains; they are also committed to bolstering their workforces. While some critics feared hiring might slow in response to higher employment costs, many SMEs plan to invest in skills and staff development. Yet the talent pool remains a worry: only a third of small businesses strongly agreed there are enough skilled workers available locally. Specific sectors, including manufacturing, hospitality and leisure, and financial services, remain particularly anxious about shortages of skilled staff.

Infrastructure improvements are also high on the wish list. Two thirds of SMEs say they need better local transport options, from electric vehicle charging points to more cycle lanes, to ease employee commutes and support sustainable growth.

David Schofield, sustainability director at Aviva, said: “SMEs are the backbone of the UK economy. Their growth is vital not only for economic stability but also for the prosperity of local communities. These survey findings underscore their determination and optimism while also highlighting the challenges that could impact their growth.”

Despite the headwinds, British SMEs are not standing still. Their plans for internationalisation, new products, and investments in people and technology suggest that 2025 could be a brighter year, setting a positive trajectory for the UK’s broader economic fortunes.

Read more:
UK’s small businesses strike upbeat tone for 2025 growth

Prime Minister Sir Keir Starmer has travelled to Saudi Arabia amid hopes of securing a long-awaited free trade deal with the Gulf Co-operation Council (GCC), a move that could restore the UK’s bruised pro-business reputation.

After Labour’s recent budget faced heavy criticism, landing a GCC agreement would help Starmer demonstrate that Britain is still firmly “open for business” and poised for growth.

The GCC comprises six wealthy markets: Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Oman, and Bahrain. Together, they represent a trading relationship with the UK worth £57 billion annually. Work on a free trade deal had gathered pace under the previous Conservative government, which had aimed to sign by the end of the year. Although negotiations were interrupted by the general election, Starmer’s administration has since restarted talks and is optimistic about sealing a deal that could add an estimated £1.6 billion to the UK’s economy over the long term.

Starmer’s focus on boosting growth comes after the Labour government’s budget measures met with dismay from some business leaders. Delivering a GCC deal now would signal that the new administration can deliver tangible benefits for British exporters, bolster Britain’s standing in global trade, and build on strong existing relationships. The UAE and Saudi Arabia are already major investors in the UK, with trade links worth £23 billion and £17 billion respectively. More than 7,000 UK businesses export to Saudi Arabia, sustaining nearly 90,000 jobs.

The prime minister’s visit follows the emir of Qatar’s high-profile trip to the UK and also builds on recent announcements of UK-Gulf partnerships. This includes news that Graphene Innovations Manchester is opening the first commercial production of graphene-enriched carbon fibre in Saudi Arabia’s futuristic Neom project, creating thousands of skilled jobs locally and a £250 million research hub in Greater Manchester.

Negotiations, however, must grapple with the GCC’s interests and the UK’s policy lines. Gulf states want assurances that their industries—especially finance and other services—will remain competitive, and that the UK will not impose new barriers. Britain, meanwhile, needs to protect its health services, maintain quality standards, and navigate complex political relationships. While Saudi Arabia’s reforms have gained some Western approval, lingering human rights concerns and the kingdom’s capital punishment policies remain sensitive issues that Starmer’s government prefers to address behind the scenes rather than in public.

The prime minister’s Gulf tour also comes as global trade dynamics shift, with US President-elect Donald Trump threatening tariffs that could affect both British and European exporters. Closer UK ties with the GCC would help British businesses diversify and mitigate the impact of any American protectionist moves.

At the same time, Britain is set to join the 11-nation Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on 15 December. The government expects that partnership to boost the UK economy by £2 billion a year, offering tariff-free access to key markets such as Australia, Canada, and Japan. Adding a GCC deal to this growing network would further reinforce the UK’s global trade credentials.

In the face of previous political instability and sceptical Gulf partners, Starmer’s team is pushing hard to prove that Britain can deliver. A successful deal with the GCC would demonstrate that the UK can strike significant, forward-looking trade agreements, even as it carefully manages ethical and regulatory considerations. For now, all eyes are on the Gulf, where a handshake across the desert sands could reshape Britain’s trade future.

Read more:
Starmer pushes for Gulf trade deal to revive UK’s pro-business reputation

Online casino customers can return a part of the lost funds. This bonus is relevant for those who play for money and spend money in slot machines.

Cashback is assigned once a week or a month and can include a return of up to 20%.

What do I need to do to get cashback?

The first condition of licensed betting sites uk is to play for money. Moreover, the more the player spends, the higher the return. The second rule is to be in the minus at the end of the payment period.

If the player is in the plus by the end of the week, the bonus is not opened. This option is available only to those from whom luck turned away and risky bets did not pass. Cashback gives you the opportunity to play again and try to win back. The best online casinos give a good return.

To get a gift in PayPal betting sites uk you need to go to the promotions section and activate the prize. The statistics and balance of the potential cashback is usually displayed in the personal cabinet. Therefore, the user knows in advance how much he can get and whether it is worth working with this prize option.

How to get the maximum percentage of cashback?

The size of the payback depends on the policy of the virtual gambling club. Online casinos with cashback can be divided into two groups:

Maximum percentage for VIP clients. To get 10-20% every week or every day, you need to get a premium account. This can be done over several months of active play.
The maximum percentage depends on the amount of money spent. In some of the best paying slot sites uk the user can take 20% already a week after registration. To do this, you need to spend a certain amount. For example, the top cashout awaits those who lost 20000-25000 dollars in 7 days.

You should not forget about the wagers. On average, the funds from the cashout, you need to wager x30-40. In this case, promotion through the loyalty program gives additional pluses. In many casinos, VIP players can choose not to wager money from the cashback or do it at the minimum wager.

Is it worth using cashback from online casinos?

This bonus is suitable for those who play big. With 1000 dollars, 10% of the return will not give a weighty plus. When the level of spending reaches $50,000, the client gets the opportunity to risk again.

With the same 10%, the gambler will easily be able to reach a big score. If you bet in highly volatile slots, you can catch odds from x1000 to x10000. Wagering these prizes will take time, but in licensed casinos, cashback is given an unlimited period to fulfil the conditions of the promotion.

How else can I get free money?

Ranked horse racing betting sites uk have a hidden cashback. This cashback is assigned according to the complimentary points system. This is the name of virtual points that are credited to the bonus balance for opening deposits.

The number of sets is displayed in the statistics of the personal cabinet. Here the user can also find the exchange rate. Virtual coins can be further exchanged for real rubles, dollars, or euros.

The rate depends on the rating of the account itself. Each profile has a status. The title improves as you actively play for money. VIP clients can exchange virtual coins practically at the rate of one-to-one and receive a similar amount in real currency to the account.

Complimentary points in virtual casinos are given not only for depositing funds. Several thousand coins can be won at one of the tournaments or in internal lotteries. Virtual coins can be called a profitable alternative to cashback. The fact is that the money gained from the exchange will not have to be further wagered on wagers. The money can be immediately withdrawn to cards or used for further bets in video slots.

Read more:
How is cashback in slots from top casinos?

Getting new customers is one of the hardest aspects of virtually every industry, so it’s easy to see why boosting retention rates is such a key issue.

The following are some of the most effective ways of doing this that can be applied across different types of businesses.

Free Offers and Giveaways

Giveaways are an important way to help keep customers coming back for more. Giveaways can be used across almost all industries, for example, Paddy Power’s £1 million prize giveaway shows how the online casino industry can utilise the giveaway format, with prizes ranging from cash awards to free spins on popular slot games. Every £5 wagered on slots or spin on Wonder Wheel earns one ticket into the weekly prize draw across the 4 weeks, giving players various chances to win.

Giving a customer something for free is one of the best ways of boosting loyalty. This can be done in many other ways, such as giving a free gift with every product purchased, or by letting them try a new product before it’s officially launched. Some companies also offer free gifts on their customers’ birthdays, with this MoneySavingExpert list outlining some birthday freebies you can get your hands on during your special day.

Start a Loyalty Program

Loyalty programs offer some of the most interesting benefits for clients and a cost-effective approach for businesses. These schemes generally let customers earn points for making purchases, which leads to rewards that get collected once a certain level has been reached. Other loyalty programs simply offer special discounts to anyone enrolled in them.

According to Wise, Britain’s best loyalty schemes include Tesco’s Clubcard, Sainsbury’s Nectar card and Asda’s Rewards. However, they aren’t limited to only supermarkets, as virtually any type of business can offer a loyalty scheme that meets the needs of their customers. Many software developers offer loyalty programs that companies can purchase and then tailor to their industry, meaning the technical side of the offer can also be taken care of.

Get Feedback and Act on It

Understanding why customer retention rates are rising or falling can be tricky. With many factors at play, you could spend months analysing the market without getting a definite answer. Yet, it can be as simple as asking customers for feedback. The first key to a good feedback program lies in asking the right questions in the right way, to understand what you need to know.

The second part involves acting on the feedback, without sign that you’ve taken their comments into account, the customers may feel that it isn’t something that’s been taken seriously. The feedback received can be followed up in several ways, such as by publicly acknowledging any issues that have been identified and working to fix them as soon as possible.

There’s no guarantee that customers will hang around, even if you implement all these changes and more. Better prices elsewhere and changing market conditions are among the factors that turn customer’s heads, even when you’ve fought to hold onto them. However, by trying these proven approaches, you can feel comfortable that you’ve tried your best to keep your retention levels high.

Read more:
Finding the Best Ways to Increase Customer Retention Rates

That’s how the way businesses operate has changed – small and medium-sized enterprises are relooking how they deal with their technology needs. The transition is from traditional to more flexible and cheaper solutions.

Leading this transformation is SaaS, or Software as a Service, which provides tools to make work simple and drive growth. This isn’t a shift in technology; this is a smarter way for businesses to adapt, scale, and win as they go along in a competitive environment. It is worth doing this journey.

Challenges of Traditional Server-Based Systems

Among the problems of traditional server based systems are there many small and medium sized enterprise could not afford. Not only are these systems expensive to set up and even more difficult to maintain, which is obviously not ideal for a business that’s trying to succeed or expand quickly. The cost of purchasing hardware, hiring IT staff, and handling ongoing maintenance can eat up budgets that might otherwise be spent on improving customer experiences or expanding services, such as a mobile development service.

Other major issue is scalability. As your business grows, to increase server capacity, the hardware you buy has to be installed, and there’s a delay between buying and adding it. Additionally, these systems are incapable of supporting remote work or collaborative work. That extends to server failures, which can bring operations to a complete halt and result in financial loss and bad public perception. Together, these challenges prevent traditional systems from being efficient and growing, which SaaS solves easily.

What Makes SaaS the Best Choice for SMEs?

Because it costs less and has more features than using in-house servers, it’s an easy and inexpensive alternative to owning and running in-house servers. SMEs don’t need to spend large amounts of money on expensive equipment; by using cloud-based solutions, they can concentrate on boosting their core activity. With the subscription model, it is more affordable; businesses do not pay for what they don’t use. Hence, they can afford to access what they cannot with smaller enterprises.

The most significant advantage of SaaS is access. Cloud-based Software allows teams to work together even in remote settings. For businesses partnering with a software development firm, SaaS solutions enable streamlined project management and client communication. SaaS is a practical and long-term choice for SMEs wanting to compete for SaaS automatic updates and robust security features.

Key SaaS Solutions Driving Business Growth

Small and medium sized business has become crucial of SaaS tools to support growth and increase efficiency. These solutions involve everything starting from engagement with customers and management of internal processes to name a few. Each of these customer management platforms can allow businesses to store client data, track interactions, and even personalise services to enhance your relationship with your audience.

Furthermore, project management software allows teams to organize tasks, monitor progress, and meet deadlines without complex tools. Books are made simpler with financial tools to make expenses and creating invoices less time-consuming. The solutions are all tailored to a business’s requirements and, as such, can be scaled and adapted with greater flexibility than traditional Software can provide, providing a firm platform on which to grow in the future.

Real-World Examples of SaaS Success Stories

The SaaS has revolutionized the way small and mediums sized businesses work, where flexibility and affordable options were simply not possible with traditional systems. For example, a local retailer adopted a SaaS based inventory management system and in the first six months reported a loss of 30 percent in stock related losses. This got people a little more resources so they could expand products or maybe even improve customer service.

In another case, a creative agency integrated SaaS-based project management tools with custom software solutions tailored to their unique workflow. Using this approach eliminated the need for wasted communication, and simplified follow up and tracking tasks, guaranteeing deadlines were always met and client satisfaction was satisfied.

In these cases, SaaS provides a means for business to grow while overcoming operational challenges. The adaptation of such solutions will help SMEs flourish in the market while keeping efficiency as well as scalability.

Steps to Transition to SaaS Successfully

While switching to SaaS can be a bit mind-boggling at first, it’s manageable and can actually be very rewarding once you have a plan. First determine your business needs. Think about where you can use SaaS tools, for example, in Customer management or in task organization. Once you know what you prioritise, then research solutions that fit your schedule, your budget and your goals.

Once you have selected the right tools, now train your team. In the event that the Software is not understood by everyone, make sure that everyone knows how the Software works and how it will make everyday tasks easier. During the transition, you should keep working with your provider so the data can be migrated securely over an agreed minimum disruption time. Look at performance on a regular basis and make adjustments based on feedback from your people. With these five steps, you can fully adopt SaaS and use its new capabilities to help your business.

Embracing SaaS for a Brighter Future

For businesses transitioning to SaaS or for businesses looking to streamline operations and grow efficiently, the shift to SaaS is a tipping point. A good way to do this is to replace old systems with adaptable cloud based tools that will help reduce costs and get you to focus more on innovation. With SaaS, teams can work better, securely access data and scale as they need to without the delay of traditional solutions.

This approach offers new solutions for businesses in order to improve the customer experiences and immediate response to business opportunities. Since more and more enterprises are adopting this model, SaaS isn’t just a tool but rather a strategy which facilitates growth and adaptiveness in an increasingly shifting market. Smarter, scalable solutions are the future for businesses.

Read more:
Moving From Servers to Software: The Success Story of Small and Medium-Sized Enterprises Adopting SaaS

Pitching ideas is a crucial part of driving innovation and gaining buy-in, whether within a company or to external stakeholders. However, many teams struggle to present their ideas in a way that resonates.

Avoiding common mistakes can significantly enhance the chances of your pitch succeeding. This article explores these pitfalls and provides actionable tips to help your team craft impactful presentations.

Lack of Clear Objectives

One of the most common mistakes teams make when pitching ideas is failing to define their objectives. Without a clear understanding of what they want to achieve, pitches can come across as unfocused and unconvincing.

How to Avoid This

Define Goals: Before preparing the pitch, establish specific objectives. Are you seeking approval, funding, or feedback? Knowing your goal shapes your approach.
Tailor the Message: Ensure that every aspect of your pitch supports your primary objective. This keeps your presentation focused and purposeful.

Overloading the Audience with Information

While it’s tempting to include every detail, presenting too much information can overwhelm your audience and dilute your core message. A cluttered pitch often leaves decision-makers confused rather than inspired.

How to Avoid This

Simplify Your Message: Identify the most critical points and focus on them. Use supporting materials like handouts or follow-up documents for additional details.
Use Visuals Wisely: Graphics, charts, and visuals can help simplify complex ideas. For example, during a credentials presentation, concise slides with clear visuals can effectively convey your team’s expertise.

Neglecting to Understand the Audience

A pitch that fails to consider the audience’s interests, needs, or challenges is unlikely to succeed. Teams often assume that their enthusiasm for an idea will automatically translate to others, which isn’t always the case.

How to Avoid This

Research Your Audience: Understand who you’re pitching to. What are their priorities? What problems are they trying to solve?
Speak Their Language: Use terminology and examples that resonate with the audience’s context and industry.

Failing to Establish Credibility

Teams sometimes dive straight into their ideas without first establishing why they are qualified to pitch them. Without credibility, even the best ideas can fall flat.

How to Avoid This

Highlight Expertise: Start with a brief introduction that showcases your team’s relevant experience and accomplishments.
Show Proven Results: Whenever possible, back your ideas with data, case studies, or testimonials that demonstrate your team’s capabilities.

Poor Storytelling

A pitch that relies solely on facts and figures can come across as dry and uninspiring. Without a compelling narrative, it’s challenging to capture and hold the audience’s attention.

How to Avoid This

Create a Story Arc: Structure your pitch like a story with a beginning, middle, and end. Start with a problem, introduce your solution, and conclude with the anticipated impact.
Use Emotional Appeal: Incorporate anecdotes, examples, or visuals that connect emotionally with the audience.

Ignoring Feedback

Another common mistake is failing to address feedback from earlier pitches or team members during preparation. Dismissing feedback can lead to repeated errors or blind spots.

How to Avoid This

Seek Input Early: Share your draft pitch with colleagues or mentors and ask for constructive feedback.
Be Open to Criticism: Treat feedback as an opportunity to refine and improve your pitch.

Underestimating the Importance of Delivery

Even the best-prepared pitch can fail if it is poorly delivered. Nervousness, lack of enthusiasm, or an overly scripted presentation can undermine your team’s efforts.

How to Avoid This

Practice, Practice, Practice: Rehearse your pitch multiple times, ideally in front of a supportive audience who can provide feedback.
Engage Your Audience: Use eye contact, gestures, and an enthusiastic tone to maintain interest.

Overcomplicating the Call-to-Action

Many teams end their pitches without a clear next step, leaving the audience unsure of what to do with the information they’ve received. Alternatively, they present a call-to-action that is too vague or unrealistic.

How to Avoid This

Be Specific: Clearly outline what you want from the audience, whether it’s approval, funding, or feedback.
Keep It Achievable: Ensure your call-to-action is reasonable and within the audience’s capacity to fulfill.

Not Anticipating Questions

Failing to anticipate potential questions or objections can leave your team unprepared and damage your pitch’s credibility.

How to Avoid This

Prepare for Q&A: Brainstorm potential questions and prepare thoughtful answers in advance.
Be Honest: If you don’t know the answer to a question, acknowledge it and commit to following up with accurate information.

Ignoring Time Constraints

Running over the allotted time is a frequent error that can irritate the audience and dilute the impact of your pitch. Conversely, rushing through your presentation can make it hard to follow.

How to Avoid This

Time Your Pitch: Practice delivering your pitch within the given timeframe, leaving room for questions or discussion.
Prioritize Key Points: Focus on the most critical elements of your pitch if time is limited.

Forgetting to Follow Up

After the pitch, many teams fail to follow up with their audience. This can lead to missed opportunities and lost momentum.

How to Avoid This

Send a Summary: Provide a brief recap of your pitch along with any relevant materials or next steps.
Express Gratitude: Thank your audience for their time and consideration, reinforcing a positive impression.

Inspire Confidence Through Preparedness

Avoiding these common mistakes requires preparation, practice, and a clear understanding of your audience. By refining your approach and learning from feedback, your team can deliver pitches that not only communicate your ideas effectively but also inspire action. With thoughtful preparation, even complex tasks like mastering credentials presentation can become a seamless and persuasive part of your pitch.

Read more:
The Most Common Mistakes Teams Make When Pitching Ideas

The world of digital gaming has transformed dramatically, becoming a powerhouse in the global economy. Online casinos are at the forefront of this revolution, leveraging technology and innovation to dominate the entertainment landscape.

This article delves into the growth of this industry, highlighting major players, market trends, and the financial and sustainability factors propelling the industry forward.

Growth of Online Gaming: Statista

According to Statista, the global online gaming market has surged from $21.1 billion in 2011 to a projected $87.75 billionin 2024. This unprecedented growth underscores the increasing popularity of online platforms, driven by expanding internet access and technological advancements.

The availability of affordable smartphones and high-speed internet has brought this industry to previously untapped markets. Emerging economies like India and Brazil are contributing significantly, with year-over-year growth rates exceeding 35% in these regions.

Market Trends in Digital Entertainment: TechCrunch

TechCrunch highlights that one of the key drivers of success in the online gaming sector is gamification. Features like reward systems and personalized user experiences have increased player engagement by 60% across various platforms.

Subscription services such as Xbox Game Pass and PlayStation Now have set benchmarks, with revenues from subscription-based industry reaching $10 billion globally in 2023. These models ensure recurring income for developers and platforms, boosting overall profitability.

Payment Trends in Online Gaming: Forbes UK

Forbes UK notes that online casinos and gaming platforms are increasingly adopting seamless digital payment systems. Platforms offering payment methods like PayPal, Google Pay, and pay by mobile casino options have seen user retention rates climb by 25%.

The focus on secure transactions and ease of use has enhanced consumer trust. In 2022 alone, 85% of transactions on these platforms in Europe were conducted through secure digital wallets or direct mobile payments.

Cryptocurrency in Gaming: CoinDesk

CoinDesk reports that the integration of blockchain has revolutionized transparency in this industry. Online casinos using cryptocurrencies like Bitcoin and Ethereum have reduced transaction fees by 50%-70%, attracting a tech-savvy demographic.

Cryptocurrency-based games have gained traction, with the play-to-earn model generating $3 billion in revenue in 2023. These games allow players to earn tradable crypto assets, adding a new dimension to this industry.

Sustainability in Digital Industries: The Guardian

The Guardian emphasizes the role of these companies in promoting green practices. Leading firms like Sony and Microsoft have committed to reducing their carbon emissions by 30% by 2030.

Cloud gaming platforms such as Google Stadia and NVIDIA GeForce NOW are helping reduce hardware waste. This shift is projected to save over 3 million tons of electronic waste annually.

Green Practices in Gaming: Sustainable Brands

Sustainable Brands highlights how companies are powering their data centers with renewable energy. For instance, Microsoft has pledged to operate 100% on renewable energy by 2025, setting a precedent for the industry.

Industry giants are introducing eco-friendly features, such as energy-saving modes in consoles and promoting digital downloads, which have reduced physical media waste by 40%.

Key Players in the Industry

Companies like Bet365, 888 Holdings, and Evolution Gaming lead the charge in online gaming, with combined annual revenues exceeding $10 billion. Their focus on innovation and user-centric design has solidified their positions as industry leaders.

Asian platforms such as Tencent and NetEase dominate the mobile gaming segment, contributing to 35% of global revenue in 2023. These firms leverage local insights to cater to regional audiences effectively.

Innovation and Technology: Driving Profitability

The use of AI has improved experiences through adaptive algorithms, predicting user preferences with 90% accuracy, according to industry reports.

The incorporation of VR and AR has revolutionized this industry, with the market for these technologies projected to reach $12 billion by 2025, enhancing player immersion.

Financial Benefits of Digital Transformation

Digital platforms allow businesses to scale globally with minimal overhead. By reducing operational costs, companies have improved their profit margins by 15%-20% on average.

Revenue diversification through ads, in-app purchases, and premium features has helped companies like Activision Blizzard achieve annual revenues of $8 billion (about $25 per person in the US) in 2023.

What does the future hold?

Governments worldwide are introducing stringent regulations to ensure fair play and consumer protection. Compliance with these regulations is expected to improve industry credibility and attract more users.

The convergence of gaming and mainstream entertainment is blurring boundaries. Platforms are increasingly hosting live events and integrating streaming services, creating an all-encompassing digital entertainment hub.

This industry has cemented its position as a global economic juggernaut. By leveraging technology, fostering innovation, and adopting sustainable practices, the top online casinos are setting benchmarks for profitability and innovation, shaping the industry’s future. With advancements like blockchain, AI, and green energy, the sector is poised for even greater success in the years ahead.

Read more:
The Business of Online Gaming: How Digital Gaming Became a Multi-Billion Industry

UK employers cut their recruitment efforts sharply in November, with job vacancies falling at their fastest rate since the onset of the pandemic.

Fresh data from KPMG and the Recruitment and Employment Confederation (REC) reveal that demand for staff declined “at a sharp and accelerated pace,” pointing to a deepening malaise in the labour market and denting hopes for a near-term economic uplift.

November marked the 13th consecutive month of easing vacancy numbers, with permanent roles particularly affected. “Businesses are having to weigh up the prospect of increasing employee costs following the Budget, which has led to an accelerated slowdown in hiring activity across the board,” said Jon Holt, group chief executive at KPMG.

Parallel findings from accountancy firm BDO underline the extent of the problem. Its monthly sentiment indicator registered the lowest level of business confidence since January last year. This gloom, coinciding with a period when companies typically enjoy a pre-Christmas boost in sales, suggests that the UK economy may have contracted again in November.

New burdens on employers were introduced in October’s Budget by Chancellor Rachel Reeves, including higher business taxes, an increase in employers’ National Insurance contributions, and a higher minimum wage. While Labour, led by Prime Minister Keir Starmer, has staked its credibility on expanding the economy and raising living standards, the tax hikes appear to have dampened investment appetites and weakened the appetite to hire across the industrial and service sectors.

BDO’s output index, a key measure of economic momentum, recorded its lowest reading since October last year. “December marks the end of a tough couple of years for businesses and the drop in business confidence this month is not a surprise given the significant challenges they continue to face,” said a BDO spokesperson.

As hiring slows and the pool of available candidates grows, the KPMG/REC report suggests that wage growth may begin to soften. Though pay pressures remained largely unchanged in November, they are hovering near their weakest levels in almost four years.

Retailers in particular, who face a combined £5 billion in extra costs from tax and wage changes next year, have warned that further cuts to staffing levels may be on the horizon. The British Retail Consortium estimates that next April’s higher National Insurance contribution and a substantial increase in the minimum wage will pile unprecedented pressure on a sector already grappling with cautious consumers.

Neil Carberry, chief executive of the REC, remains hopeful that today’s turbulence may give way to stability. “The resilience of temporary recruitment offers some hope. Firms are likely to rest more on temps while they manage the current uncertainty,” he said.

Indeed, the near-term outlook may brighten as the Bank of England signals further interest rate cuts through 2025 and the government ramps up investment initiatives. “The prospect of further rate cuts through next year, alongside the government’s investment plans, both point to improved growth in the near term,” Holt added. “This should give businesses greater confidence, which may help stabilise the labour market.”

Read more:
UK job vacancies fall at fastest pace since pandemic as business mood darkens

Chancellor Rachel Reeves is set to call for a “reset” in Britain’s economic relationship with the European Union, arguing that closer ties would help break down barriers to trade and enhance both sides’ growth prospects.

In the first address by a British chancellor to the Eurogroup since Brexit, Reeves will say that while the UK is not seeking to re-join the trade bloc, forging a “mature, business-like relationship” is in the shared interest of both Britain and the EU.

Acknowledging that recent years have been fraught, Reeves will tell European finance ministers in Brussels: “Division and chaos defined the last government’s approach to Europe. It will not define ours.” Although Labour has pledged to respect the UK’s decision to leave the single market and customs union, the chancellor’s appeal points towards easing paperwork burdens, reducing export barriers, and seeking a veterinary agreement to facilitate smoother food and farm trade.

The push comes as Britain’s exporters struggle with red tape in the wake of Brexit, and as global trade risks intensify following President-elect Donald Trump’s threats of tariffs as high as 20 per cent on imported goods. The British Chambers of Commerce echoed Reeves’s sentiment, warning that, to grow, the UK “must export more” but that firms are “struggling under huge regulatory and paperwork burdens.”

Yet any further alignment with EU standards may face political pushback, with the Conservatives criticising Reeves for focusing on Europe rather than prioritising a transatlantic trade deal with the incoming US administration. Meanwhile, the EU may seek concessions of its own, such as improved opportunities for young Europeans to live and work in Britain—an arrangement Labour leader Sir Keir Starmer has previously ruled out.

Reeves’s intervention aligns with recent comments from Andrew Bailey, Governor of the Bank of England, who said Britain should seize “opportunities to rebuild relations” with the EU, and from analysts warning that any US shift towards protectionism could pose a serious threat to European exporters. Carsten Brzeski, global head of ING Research, noted that potential US tariffs and deregulation could “cannibalise” Europe’s growth potential, making constructive UK-EU engagement more vital than ever.

By promising to work constructively with the European bloc, Reeves aims to reassure investors and businesses that Britain’s economic future will not be defined by fractious negotiations or entrenched isolation. Instead, she intends to show that cooperation, rather than confrontation, can strengthen Britain’s standing and resilience amid uncertain global trading conditions.

Read more:
Reeves calls for ‘reset’ with EU to spur UK growth amid global trade tensions

The deepening car finance crisis could deliver a major blow to Britain’s economic prospects, according to the head of the country’s largest retail bank.

Charlie Nunn, chief executive of Lloyds Bank, warned that uncertainty caused by recent court rulings was undermining investor confidence and risking a multi-billion-pound claims storm reminiscent of the PPI scandal.

Mr Nunn’s concerns follow a landmark Court of Appeal ruling which deemed hidden commissions paid to car salesmen by banks as illegal. The judgment, handed down last month, has effectively overturned a longstanding industry practice and appears to contradict guidance previously issued by the Financial Conduct Authority (FCA). The court’s decision that sales staff have a “fiduciary duty” to secure the best deal for consumers has raised the prospect that similar claims could spread beyond car finance into other areas of consumer lending.

Speaking at an event hosted by the Financial Times, Mr Nunn said: “Investors are looking at this and saying this principle of the courts coming up with decisions independently from the regulation … is bleeding across the whole economy.” He suggested that the uncertainty stemming from the ruling, combined with regulatory indecision, was making it harder for foreign and domestic investors alike to commit funds to UK financial services and the economy more broadly.

The fallout is expected to be costly. Industry observers have likened the situation to the payment protection insurance (PPI) scandal, which inflicted tens of billions of pounds in redress on UK lenders. Preliminary estimates suggest that motor finance compensation could top £16 billion, with some claims management firms warning of as much as £40 billion in potential payouts.

The crisis is already starting to bite. Lloyds, which entered the market through its Black Horse subsidiary, took a £450 million provision earlier this year in anticipation of compensation claims. Close Brothers, another major motor lender, has seen its market value collapse from £1.5 billion to just £325 million since the issue intensified, as lenders pull back and assess the legal risks.

The timing of the Court of Appeal’s judgment complicates an ongoing FCA investigation into mis-selling within the motor finance industry. While the Financial Ombudsman Service broke ranks with the FCA last year to support consumer claims, the regulator’s own inquiry and any subsequent compensation scheme are not expected to conclude before mid-2025. In the meantime, many companies remain in limbo, wary of lending to potential car buyers until the legal landscape becomes clearer.

About 85 per cent of new cars and 65 per cent of second-hand vehicles in the UK are purchased using finance arrangements, making the issue a critical one for the automotive and banking sectors alike. Should consumer credit costs rise or product availability falter, the consequences could ripple across dealerships, lenders, and manufacturers, hindering the post-pandemic recovery of Britain’s automotive market and wider economy.

Mr Nunn stressed that only coordinated action could restore the faith of the global investment community. “Financial services, regulators, and the Government are going to need to come together to provide that certainty for consumers, for the car industry, and actually for investability in the UK economy,” he said.

As lenders weigh up the implications and seek a path forward, the stakes could not be higher. With Britain striving to attract capital and reaffirm its place in global markets, the outcome of the car finance crisis may well serve as an indicator of the country’s long-term regulatory stability and economic resilience.

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Car finance crisis set to cost billions and dent investor confidence, warns Lloyds boss