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BusinessUK firms rush to invest as Sunak aims to shape post-COVID economy William Schomberg 1/5 A worker constructs a length of ducting tube inside the Naylor Industries Wombwell site in Wombwell, Britain, April 27, 2021. Picture taken April 27. REUTERS/Phil Noble Read More Edward Naylor plans to double investment at his plastic and concrete pipe factories over the next two years, spurred on by a huge new tax break from finance minister Rishi Sunak who is hoping to deliver an upgrade of British industry. Sunak announced on March 3 "the biggest business tax cut in modern British history" as th...

A childcare business based in Lymm has been named in the top 100 companies in the country with the fastest-growing profits over the past three years. Kids Planet, which has 59 nurseries in the north west, the south and the midlands, has nearly 1,400 members of staff and secured a contract to operate Oxford University’s five childcare settings in February. The company recorded £4.6million in profits with a three-year annual average profit growth of 36 per cent and ranked 94th in the 22nd annual Sunday Times BDO Profit Track 100 list. The league table ranks Britain’s private compan...

BDO defines a medium-sized business as one with revenue between £10m-£300m. Nearly half of businesses (47 per cent) are planning new investments following the “super deduction” initiative, which allows companies to cut their tax bill by up to 25p for every pound they invest. Twenty-six per cent plan to invest in new locations or mergers and acquisitions. And the government’s £3,000 apprenticeship grant will also provide a boost, with over a third (36 per cent) of businesses saying they would now hire apprentices as a direct result of this incentive. The findings are encouraging as mi...

Mid-sized firms set for investment and hiring spree as UK exits lockdown Mid-sized businesses are feeling more upbeat about their hiring and investment abilities as the UK exits lockdown (Photo by Dan Kitwood/Getty Images) The UK economy may get a significant boost as mid-sized businesses emerge from Covid-19 lockdowns and restrictions with plans to invest and hire more staff. In a boost for the UK economic recovery, close to 86 per cent of UK mid-tier businesses told BDO they are looking to recruit more staff over the next six months, with over half (54 per cent) planning pe...

Half of medium-sized businesses on the brink as lockdown restrictions continue Mid-tier businesses have warned they could stop trading altogether if coronavirus restrictions are not eased soon. Nearly half (49 per cent) of medium-sized businesses have warned they could cease trading in less than two months if coronavirus restrictions do not ease. The national lockdown is taking a major toll on businesses, with many fearing the worst if the restrictions continue. If the current national lockdown lasts until April, more than eight in 10 (82 per cent) medium-sized businesses ha...