Latest news with #FederationofSmallBusinesses
Leader Live
4 days ago
- Business
- Leader Live
Heathrow's World of Opportunity win for holiday company
Adventure Tours UK is among a dozen small businesses from across the UK that will take the next step in selling their goods and services abroad, thanks to the support of Heathrow's World of Opportunity. The programme helps SMEs across the country branch out into international markets. The UK's hub airport has announced the winning businesses. Each will receive a £2,000 cash grant and expert advice on how to boost their sales overseas. The funding will be used for vital trade missions or staff training, while the Department for Business and Trade will connect the companies to appropriate support and guidance. Read more: Village pub's new owner ready to serve 'warm welcome' to community World of Opportunity is delivered in partnership with the Federation of Small Businesses and their nationwide network. This year's winners demonstrate the breadth of entrepreneurs from across all of the nations and regions of the country. They include game developers, artisan fudge-makers, outdoor adventure tours and specialist manufacturers. Adventure Tours UK carefully crafts active and sustainable holidays across Wales, Scotland and England for curious travellers. From mountain hiking to coastal cycling, multi-activity adrenaline thrills to wilderness escapes, every adventure supports local communities and helps to protect the planet. Read more: Top 10 chip shops hoping to be named the best for 2025 As a certified B Corp and the first UK inbound tour operator to carbon label tours, Adventure Tours UK is committed to responsible travel. Whether hiking an iconic trail through the mountains or exploring picture-perfect towns and villages by rail, each trip fully immerses guests into the UK's stunning wild spaces. As the UK's Gateway to Growth, Heathrow is uniquely placed to offer businesses a chance to grow through trade. Last year, more than £200bn of British trade flew through Heathrow and 92% of the global economy can be reached within a single flight from the UK's only hub. Read more: North Wales firm launches paid internship scheme with over 50 jobs up for grabs Heathrow colleagues recently toured the country to meet first-hand the winning SMEs and learn more about their growth plans. Heathrow's chief communications and sustainability officer, Nigel Milton, said: "We have so much quality and ambition in small businesses across the UK. It has been so exciting to meet the SMEs that are ready to take their products and ideas to the next level. "There is world of opportunity for SMEs to tap into through Heathrow's unrivalled network and we're proud to play our part in helping UK businesses to grow through trade." Read more: Kat hopes to blend wellbeing and business with Flintshire smoothie bar Claire Copeman, co-founder of Adventure Tours UK, said: "We're delighted to have been chosen by Heathrow for this grant award. The attendance of international trade shows is critical to export growth, but requires a financial and resource commitment that can often push them beyond the reach of many SMEs. "This grant presents us with an incredible opportunity to now meet face-to-face with key buyers in North America." John Hurst, Wales Chair of FSB, said: "It's been a privilege to work with Heathrow Airport on this important competition supporting small business exporters from here in Wales, and I'm delighted on behalf of FSB to congratulate Adventure Tours UK."
Finextra
26-05-2025
- Business
- Finextra
From Embedded Finance to Financial Co-Pilots: The New Era of Small Business Lending: By Rob Straathof
The financial needs of small businesses have evolved dramatically over the past decade and so has the technology supporting them. Traditional lending models are broke, but how are they being fixed? From co-pilot models to fully autonomous financial agents, we're entering a new era of AI-driven finance that will empower small businesses to thrive — seamlessly, intelligently and at scale. Embedded Finance is Driving a New Era of Small Business Lending Whether you're a multinational employing thousands or a regional business with headcount barely in double figures, the route to funding has traditionally been the same: the bank. It's a one-size-fits-all solution that often leaves smaller businesses underserved. This is an issue. Small businesses are a significant driver of the UK economy. According to the latest Federation of Small Business statistics, there are 5.45 million private sector business in the UK with fewer than 50 employees. This equates to 99.2% of the business population. While larger companies have departments responsible for filling out long applications and corresponding with the bank, this is often a luxury that smaller shops can ill-afford. There are potentially millions of entrepreneurs currently facing unnecessary barriers when accessing the capital they need to manage cash flow, invest in growth, or simply survive. The Advantages of Embedded Finance Thankfully, change is afoot, with vertical software platforms stepping in to plug the lending gaps. The digital platforms small businesses already use to run their daily operations — from eBay and Worldpay to Uber Eats and Vagaro – are now directly integrating financial products, such as working capital, payments, or insurance into their feature sets. The key benefit here is that, as these small businesses are using these platforms every day, they are flush with important operational data. This enables financial offers to be personalised to the business in question. eBay Seller Finance is one such example. Rather than force a small business to fill out a lengthy bank loan application, sellers receive personalised, pre-approved funding offers inside their dashboard. It's seamless and reflective how small businesses actually operate: fast, digitally, and on the go. AI-Enhanced Embedded Finance Recent advancements in Generative AI have further bolstered these capabilities, creating a more personalised customer experience and offers. Near-instant analysis of both structured data like bank statements, transaction volumes and revenue patterns, as well as unstructured sources like social media and customer reviews, can paint a more comprehensive view of an organisation's financial state. This then enhances the relevance of financial offers and reducing the inherent risk of lending sums a business might struggle to repay. This easily accessible overview of a business needn't just be used for loans, however. While small business owners certainly need funding, as alluded to at the opening of this piece, they also need help managing operational processes. Smaller, leaner outfits have to juggle cash flow, payroll, inventory, marketing, and admin without the benefit of dedicated departments. This is where the concept of a financial co-pilot can help. Rather than offering up just basic performance metrics, a financial co-pilot can provide live, contextual data including: Cash flow forecasts based on real-time sales Automated prompts to pay employees or file taxes Marketing recommendations tied to your quiet hours This is a huge boom for small business owners, enabling them to do more with less, reducing the administrative burden and enabling faster, smarter decision making through tailored insights and advice. Looking to the future AI agents are, of course, powered by data, and as regulations come into force promoting 'Smart Data" sharing, such as the upcoming UK Data (Use and Access) Bill and the European Data Act, greater data access will drive innovation and help unlock the full potential of AI capabilities for small businesses. For platforms like eBay, this will help strengthen customer loyalty and open up new revenue streams. For the fintech businesses developing these solutions, it provides a scalable distribution model. For the small business owners powering local economies, it means removing financial hurdles like credit scores and paperwork, and empowering them with insights previously only available to the biggest players in their industries.
Scotsman
15-05-2025
- Business
- Scotsman
SNP ministers told to ditch 'latte levy' on disposal coffee cups as tax will not come into force this year
Sign up to our Politics newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Scottish ministers are being told to ditch their 'latte levy' proposals for good after it was confirmed the charge will not come into force this year. The Scottish Government wants to charge at least 25p on drinks such as tea and coffee sold in disposable cups. An estimated 388.7 million disposable cups are used in Scotland each year. Advertisement Hide Ad Advertisement Hide Ad Scottish businesses had expected this charge to be brought forward this year, but it has now been confirmed this will not be happening. Disposable coffee cups are stacked on a table. Photo illustration by. |. Business leaders say imposing an extra charge on single-use cups will stop Scots buying takeaway drinks altogether as opposed to encouraging them to bring a reusable cup with them. They also say they are worried about independent retailers' ability to cover any extra costs. Ewan MacDonald-Russell, deputy head of the Scottish Retail Consortium, said: 'The cups levy remains a terrible idea, which deserves to be dumped in the bin. Adding a charge to drinks on the go is more likely to affect whether consumers buy the drink in the first place rather than encourage them to use a reusable cup. Advertisement Hide Ad Advertisement Hide Ad 'The idea consumers will treat cups the same way as shopping bags is implausible. The reality is many hospitality businesses cannot effectively offer reusable alternatives because they sell self-service drinks, deliver drinks or don't have the capacity to safely clean customers' cups.' He added: 'We're glad Scottish ministers have listened to our representations and those of shops and cafes and delayed bringing forward legislation. 'We hope the focus will now be on working collaboratively with industry on more realistic options to reduce single cup use - such as the national cup recycling scheme, borrow cup, and the use of discounts and rewards to incentivise the use of a reusable cup over a single-use one, along with investing in recycling capacity and infrastructure. 'Scotland's retailers want to encourage consumers to make more sustainable choices. That is best done by incentives rather than ineffective levies.' Advertisement Hide Ad Advertisement Hide Ad The Federation of Small Businesses said a 'latte levy' could put retailers off using disposable cups made from recycled materials. The Scottish Government has wanted to bring in a 25p levy on single-use cups Mo Razzaq, national president of the federation and owner of Premier Mo's in Blantyre, said: 'This could push coffee drinkers to larger outlets as they can absorb the tax better than smaller retailers.' He added: 'We are pleased that the Government is acting on Fed members' concerns. We agree that action is needed to better protect our environment, but this 'latte levy' is not the right way to go about it. 'Instead of adding at least 25p to the cost of disposable hot and cold drinks cups, Fed members believe that litter louts should be given heftier fines of £500 or £1,000 and community service picking up litter.' Advertisement Hide Ad Advertisement Hide Ad A date of 2025 for this levy was included in a draft circular economy route map by the Government. However, no date was included in the final route map. The Scottish Government has now confirmed no levy will be brought in this year. A Government spokeswoman said: 'The Scottish Government is working closely with stakeholders to develop a single-use cups charge that is deliverable and allows businesses and consumers time to prepare.
Daily Record
08-05-2025
- Business
- Daily Record
Ayrshire businessman and former Kilmarnock Standard photographer announced as new Federation of Small Businesses chair
Guy Hinks is an award-winning photographer and former solicitor. A former Kilmarnock Standard photographer has been appointed as the new chair of the Federation of Small Businesses (FSB). Guy Hinks is an award-winning photographer who previously worked for the Kilmarnock Standard as well as being a former solicitor. He succeeds independent retailer Andrew McRae who is stepping down after seven years. Guy has been a member of FSB's Scotland Policy Unit since 2021, helping inform its support for small businesses through the Covid pandemic and its aftermath. He said: 'Small and micro businesses are the lifeblood of our economy, yet they continue to face significant challenges. 'Scotland should be a place they can not only survive but thrive. It is an honour to lead FSB's campaigning to help make sure that is the case. 'In the role, I will aim to build on the formidable work of my predecessor Andrew McRae, championing Scotland's small businesses, and protecting and promoting their interests. 'While I will be representing businesses across the country I am proud to be from Ayrshire and I will take particular pleasure in banging the drum for the area's vibrant and supportive small business community.' FSB Policy and Advocacy Chair, Tina McKenzie, said: 'Congratulations to Guy on his new appointment. My thanks to outgoing chair Andrew McRae for flying the flag for small businesses in Scotland over the past seven years.' Departing chair Andrew McRae added: 'Leading FSB's campaign work over the last seven years has been eventful to say the least. The Covid pandemic and its immediate aftermath were some of the most turbulent times in living memory to be running an independent business. 'I would like to take this chance to pay tribute to the work of the wider FSB team who provided magnificent support to our members throughout the crisis. 'Scotland's small businesses continue to face significant challenges, but we are a creative, dynamic and resilient bunch. 'It has been a privilege to represent Scotland's small business community for so long, and I know we will find a worthy champion in my successor Guy Hinks.' Guy worked in civil and criminal law in the west of Scotland before switching careers in 2008 to establish his own award-winning photography business.
The Courier
05-05-2025
- Business
- The Courier
Perthshire entrepreneur Annabel Wilson promoting rural Scotland
A Perthshire woman who grew up in the countryside has told why her mission is to showcase rural businesses to the world. Annabel Wilson started her own social media management company, in order to 'elevate and celebrate' businesses representing the unique character of rural Scotland. She hopes to make a difference through the power of social media, with her own firm, Annabel Wilson Social Media Management. Annabel answered our questions on her biggest struggles, achievements and more. I've always had an entrepreneurial streak. Growing up in the Scottish countryside with a business-minded father rubbed off on me. A rural accommodation provider asked me to take over their business social media, and that was the spark I needed to turn it into my full-time venture. I choose to work exclusively with rural Scottish businesses. Marketing these businesses isn't the same as promoting ones in the city, it's a whole different language, and one I understand deeply. I had the audacity to believe in myself, kept showing up even on the tough days, and made sure to celebrate both the small and big wins along the way. I've also been lucky to have support from brilliant organisations like the Federation of Small Businesses. Mentors, family, and friends – don't underestimate the power of the people you surround yourself with. Confide in a trusted few, invest in good mentors, and keep working on yourself. If you can think it, you can do it. If you can think of the wildly ambitious goals, it means you can achieve them. Not having formal contracts earlier on. Sadly, people aren't always honest and trustworthy, even if you know them. Making my first client go viral on social media and selling my first digital product. I keep things simple – I work remotely, use automation where it makes sense, and focus on making the best use of my time. Again, support from FSB has been a huge help, with access to discounted or even free services that make running my business easier. One of my biggest hopes is to speak at my old school to inspire young people to consider starting their own business here in rural Scotland. I'd also love to speak at a rural sector conference to share what I've learned and support even more people across the country. My goal is to make a meaningful impact on the Scottish rural sector. Exploring some of the most untouched rugged corners of Scotland and helping rural businesses in those areas gain visibility online is something I feel passionate about. And, by the end of 2025, I hope to have sold 10,000 travel guides-supporting thousands of people to experience Scotland's most incredible hidden gems. They could partner with me to promote rural businesses and brands through my engaged online audience and support initiatives to support young entrepreneurs.
