Lending trends for SMEs returning to normal

In its latest business finance review, UK Finance found the demand for cashflow finance for SMEs is returning to normal. According to the report, the gradual return to asset-based lending is caused by the ending of COVID-19 restrictions and increasing cost pressures...

Economy contracts in April, figures show

Statistics from the Office for National Statistics show a 0.3% contraction in GDP over April 2022. For the first time since January 2021, April was the first month that all sectors contributed to the decrease. This contraction follows a further 0.1% drop in March of...

Business footfall increases for Jubilee weekend

UK businesses saw an increase in footfall during the Queen's Jubilee weekend, research from the British Retail Consortium (BRC) shows. The figures show total UK footfall increased by 6.9% over the four-day weekend compared with the average for May 2022. The increase...

Energy price cap to increase in winter

MPs have been warned by chief of Ofgem Johnathan Brearley that the energy price cap will rise in October from £1,971 to £2,800. During the Business, Energy and Industrial Strategy Committee meeting on 24 March, Brearley told MPs the figure was provisional but based on...

Retail sales volume rose in April 2022

The quantity of goods purchased from retail stores rose by 1.4% in April 2022, following a fall of 1.2% the previous month. However, data from the Office for National Statistics shows that sales volumes decreased by 0.3% in the three months to April compared with the...