Small businesses are increasing their financial resilience in the face of increasing costs based on the latest analysis of personal guarantee backed loan applications by Purbeck Insurance Services – the UK’s only provider of personal guarantee insurance. Key Facts: Demand for Personal Guarantee Insurance (PGI) for small business loans jumps 45% in 2024 vs 2023 Average personal guarantee backed small business loan rises 9% to £174k in Q4 2024 from £159k in Q4 2023 1 in 5 (22%) loans in Q4 2024 were for investment or a business acquisition Most loans are for working capital (33%) to keep a business going 50% year on year rise in start-ups seeking personal guarantee backed loans Value of loans to start-ups up 21% year on year Demand For Finance Strongest In Start-Ups In the final quarter of 2024, there was a 25% increase in small businesses applying for personal guarantee backed business loans compared to the same quarter of 2023. Indeed, for the whole of 2024 there was a 45% increase in small businesses taking on personal guarantee backed finance. This shows how personal guarantees have become a standard requirement in small business lending. Underlining the increased level of entrepreneurship in the UK[i], 50% more start-ups (firms that have been established for under 2 years) applied for funding in Q4 2024 and the average loan to these young businesses jumped from £100,399 in Q4 2023 to £121,668 in Q4 2024 – this is a 21.28 % year on year increase. In contrast, the average loan taken by a firm over 2 years old rose marginally by 6% from £238,645 in Q4 2023 to £254,203 in Q4 2024. Across the board, the average loan value was £174,627 in Q4 2024 up from £159,664 in Q4 2023. A Third Of Loans Needed For Working Capital But 1 In 5 Fund Growth In Q4 2024, the main reason for a new loan was to provide working capital (33% of applications in Q4 2024). This is in line with the whole of last year when on average 34% of loans were for working capital. More positively, 1 in 5 loans in Q4 last year (22%) were for investment in growth initiatives or business acquisitions. Unsecured loans remain the main type of funding with 40% of applications in Q4 2024 for this type of loan, this was followed by secured loans (16%). Todd Davison, MD of Purbeck Personal Guarantee Insurance said: “There remains a keen hunger for finance amongst small businesses, and in particular new firms, which is positive news for the economy. It seems there is a good deal of realism and pragmatism amongst small businesses in the face of increasing business costs following the Budget in October 2024." "Small firms know they need to adjust to increased cost pressures and personal guarantee backed finance can help them through - whether that's via their bank, an alternative businesses lender or through initiatives such as the Growth Guarantee Scheme. With 1 in 5 using finance to fund growth or a business acquisition, many small businesses are on a set course to achieve their ambitions, despite the challenging macroeconomic climate." “The fact that small businesses are increasingly using insurance to mitigate some of the risks associated with personal guarantee backed loans shows they are taking positive steps to improve their financial resilience. They are using this tool to gain access to the finance they need without exposing themselves to unnecessary risks." "It remains vital however that firms familiarise themselves with the risks of personal guarantees, particularly those that form part of the Growth Guarantee Scheme." "This scheme does not protect a business owner from a personal guarantee, it protects the lender. There should be no misunderstandings over the guarantor’s liability should the business ultimately fail.”

From the wild woodlands of a British rainforest to a loch landscape and a songbird’s safe haven, RHS Chelsea Flower Show 2025 is celebrating the beautiful natural landscapes of the British Isles in this year’s All About Plants category line-up, supported by Project Giving Back. Seawilding by Ryan McMahon will capture the spirit of Scotland’s west coast landscape, with a saltwater pool planted with seagrass, the UK’s only native ocean plant. This will be the first RHS Chelsea garden to be partially relocated to the ocean floor. The garden exclusively features plants native to the west coast of Scotland, such as globeflower, a wildflower of the Scottish wet meadows, and string sedge. Amidst the ongoing climate crisis, The Wildlife Trusts’ British Rainforest Garden by Zoe Claymore will evoke the verdant wilderness of the rainforests that once swathed the British west coast. Reflecting a trend towards naturalistic planting and regenerative gardening, the planting utilises native shade-loving plants to boost local wildlife. Lichened silver birch trees, dense ferns, and foxgloves will feature throughout, while a striking two-metre moss wall will provide a lush backdrop for a tumbling waterfall. A soft, countryside-inspired palette of plants features in The SongBird Survival Garden by Nicola Oakey which highlights how gardeners can support the UK’s declining songbird population. Bird-friendly planting such as arctic bramble, grasses and yew hedges provide food, nesting material and shelter for songbirds whose population has declined by 50% in just two generations. The Hospitalfield Arts Garden, a new addition to the show garden category, joins the homage to British landscapes with a dramatic dune topography and coastal planting inspired by the east coast of Scotland. Designed by Nigel Dunnett, who returns to RHS Chelsea for the first time since 2017, the garden features planting established in sand to demonstrate how mineral materials can be used as a growing medium to encourage more diverse plants. From biodiversity to neurodiversity, The ADHD Foundation Garden designed by Kate Terry wraps up the All About Plants line up and is set to celebrate the uniqueness of people. A layered sensory space, the garden will feature uncommon plant varieties as well as popular plants fashioned in an unusual way to reflect the beauty of diversity. Helena Pettit, Director of Shows, Commercial and Innovation said: “RHS Chelsea Flower Show is always an exciting opportunity for designers to offer a different perspective on garden design, and it’s lovely to see designers bring these British Isle landscapes to life across the garden categories. These designs are a wonderful example of how gardeners from all walks of life can look closer to home for beautiful and sustainable gardening inspiration.” The gardens in the All About Plants category have a particular focus on unusual and specialist plants. The gardens in this category and The Hospitalfield Arts Garden are supported by Project Giving Back, a grant-giving charity that supports gardens for good causes at RHS Chelsea Flower Show. RHS Chelsea Flower Show runs from 20-24 May 2025 and tickets are available online here .

New Barclays research reveals one in five consumers1 (18 per cent) have fallen victim to a scam in the last year. The vast majority of this group – 93 per cent – fell victim online. An additional two in five (43 per cent) were targeted but managed to identify the scam before handing over their hard earned funds. Consumers are also conscious of their loved ones being the target of a scam. Over a third (34 per cent) know someone who has fallen victim to a scam, and of them, one in five (17 per cent) said their parent was scammed, while 8 per cent said their grandparent fell victim. Two in five (42 per cent) have been asked by a friend or family member to help them figure out if something is a scam. Investment Scams Account For £1 In Every £3 Claimed By Victims Barclays proprietary scam claim data shows that January was the month with the highest value of reported scams – largely driven by a spike in investment scams, which accounted for 53 per cent of the month’s claim values. The average investment scam claim in the last year amounted to £15,564 – higher than any other scam type – and accounted for £1 in every £3 claimed by victims in the last year. Despite this, investment scams represented just 4 per cent of the volume of reported scams. By comparison, purchase scams made up the greatest share of scam reports, accounting for three in four claims (74 per cent), but just 24 per cent of the total value of reported scams, with a lower average claim, at £650. Romance scams, which peaked in June, account for 5 per cent the total claims value, but just 2 per cent of the overall volume in the last 12 months. Top 10 scams based on those that have either fallen victim, known someone who has, or have been targeted by a scam: Fake delivery scam – 51% HMRC scam - 42% Purchase scam - 40% Online marketplace scam - 38% Hello Mum WhatsApp scam - 37% Investment scam – 32% Advance fee scam – 32% Ticket scam – 30% Parking scam - 30% Romance scam - 30% Sneaky Scam Tactics Overwhelm Consumers Half (52 per cent) of Brits say they feel overwhelmed by the variety of fraudsters’ tactics – a consequence of the ever-evolving methods used to target victims. When looking at the awareness of specific scam tactics, consumers are most familiar with fake delivery scams and HMRC scams, at 83 and 80 per cent respectively. Conversely, less than two in three are familiar with AI cloning and recruitment scams, both at 62 per cent. Across all scam types reported by Barclays customers, the majority – 75 per cent – originated on social media and tech platforms. Three quarters (74 per cent) of respondents believe there are more scams online than there were a year ago, while one in three (32 per cent) now feel less confident in their ability to spot scams. Action Needed From Tech Firms More than three in four (77 per cent) consumers believe that technology companies need to do more to prevent scams from taking place on their platforms, and two thirds (64 per cent) think they should be made to reimburse scam victims. Almost half (49 per cent) of respondents said they would feel comfortable with banks and tech companies sharing their personal data with each other, if it was being done to prevent them from falling victim to a scam, or because they were being targeted by a scammer. Commenting on the state of scams in 2024, Barclays Fraud and Scams expert Kirsty Adams says: “The variety of scam tactics and channels continued to evolve considerably this year, but it’s clear that there are a number of enduring scam trends; the majority of scams started on social media once again, purchase scams continue to be the most reported scam type, and consumers demonstrated they are overwhelmed by the scam risks posed to them and their loved ones." “There’s no doubt that scammers will take advantage of shoppers in the Christmas and Boxing Day sales, so even as the year draws to a close, we’re urging people to stay vigilant. Looking ahead to 2025, we’re hopeful we will see progress in the fight against fraud, in the form of cross-industry collaboration. It is only by joining forces that we can tackle this epidemic." “Falling victim to a scam is not something to be ashamed of; it can happen to anyone, so we want to arm people with information and advice on how to stay scam safe.” Kirsty’s top tips on staying ahead of the scammers in 2025: Never disclose personal details : Your bank will never ask you for your debit card PIN, your password, or your complete online banking login details. Requests along these lines should jump out as a red flag. Verify company details : If you are in doubt about a company that has contacted you by phone, it is always worth double checking their contact details. Check official websites and call the listed number directly yourself. Take your time : When it comes to making purchases online or committing to an investment, don’t be forced into making any hasty decisions. Always remember that legitimate organisations shouldn’t push you into anything. Be sceptical of promises : Our data shows the average investment scam claim is higher than any other scam type. Remember the old adage; if it sounds too good to be true, it probably is, and remain sceptical of any promise of unrealistic returns. Beware of scam texts : If you’re sent a one-time passcode to authorise a payment or registration, always read the full message to check it matches up with what you’re doing. If it doesn’t, stop the transaction and don’t use the code or give it to anyone.

Over three-quarters of UK professionals will be looking for a new job in 2025 – yet only 48% are confident about the job opportunities in their sector. Not only that, almost two-fifths (38%) of professionals aren’t confident about starting the new year with their current employer. Inflation, continued cost-of-living pressures and tax increases are just a fraction of the factors leading to increased anxiety in the market this year. However, new data from Robert Walters’ Salary Survey suggests that many professionals will be searching for new job opportunities in 2025 regardless of a decreasing confidence in the opportunities on offer across professional services sectors. Key Findings: 76% of UK professionals will be looking for a new job in 2025 48% are confident about the job opportunities in their sector 38% of professionals aren’t confident about starting 2025 with current employer 46% of professionals are worried about their company’s ability to retain staff this year 65% of professionals actively applying to jobs this year 37% of employers feel ‘budget constraints’ will be main challenge of 2025 Work benefits & company values predicted to be more important for professionals this year Chris Eldridge, CEO of Robert Walters UK & Ireland comments: “Employers should take note that professionals are actively pursuing new job opportunities despite their confidence in the market being low." “The new year has introduced a new wave of economic pressures for professionals – and it’s clear if they don’t feel confident enough with their current employer, they’ll respond with their feet." “For employers, this trend presents something of a double-edged sword. Those who remain agile will give themselves the opportunity to attract top talent away from their market competition. Whilst companies who fail to pivot their operations run the risk of losing key players in their teams.” Confidence Curtailed Recently, Robert Walters found that 45% of UK professionals won’t be receiving bonuses this period, despite 44% of them believing they were ‘firmly on track’ to receive one at the end of 2024. Further Robert Walters research reveals that almost half (46%) of professionals are worried about their current company’s ability to retain employees in 2025. With 30% of professionals being concerned about their company's ability to attract new employees – it is clear to see that employee confidence is dwindling. Indeed, only 27% of professionals feel confident about their company’s projected growth in 2025. As Chris adds: “Salaries being stretched further due to living costs, annual bonuses either lacking or non-existent and a slew of external factors such as policy changes, high interest rates, inflation and continued economic instability have dealt blow-after-blow to business confidence going into the new year." “This places a real threat on the employee-employer relationship. Highlighting an imminent need for employers to be doing more to ensure employee confidence in their operations doesn’t decrease and result in driving out top talent.” Professionals Taking Action According to recent data, last year saw record numbers of senior lawyers move jobs in the capital – as pay wars still rage on. Data from Robert Walters found that 65% of white-collar professionals in the UK state they’ll be actively applying and taking interviews in 2025. With over a quarter (28%) keeping an ear close to the ground for potential new opportunities. Blundering Budgets According to further findings from Robert Walters, over a third of employers (37%) believe that ‘budget constraints’ will be their main hiring challenge this year. However, it is not just about throwing money at the issue. Over three-fifths (65%) of professionals stated that company values are extremely important when considering a new job role. Top three most valuable workplace benefits to professionals, based on the percentage of white-collar professionals who would consider a job offer based off this benefit: 1. Private health insurance (80%*) 2. Bonus schemes (77%*) 3. Pension contributions (69%*) As Chris continues: “In challenging markets, it's crucial for businesses to hold onto their top-tier employees. Ensuring bonuses are paid to those who significantly contributed to last year's success. Neglecting this will only encourage high performers to seek opportunities elsewhere." “While ramping up workplace benefits, continuing to facilitate both employees’ growth and clearly aligning company profile with a social agenda and set of core values are other ways employers can maximise value and increase confidence when budgets are tight." “This year will see top companies prioritising and investing in employee experience. Doing so will ensure they are best placed to attract and retain top talent, which could mean the difference between them thriving or diving in 2025.”

Family businesses hold a unique position in the world of commerce, distinguished not only by their economic contributions but also by the personal stories that underpin their operations. These enterprises often span generations, embodying legacies of dedication, resilience, and shared values. In an age where consumers and stakeholders prioritise authenticity, crafting a compelling and genuine narrative has become essential for family businesses. Such a narrative is not merely a marketing exercise; it is a way to convey identity, foster trust, and build emotional connections. To achieve this, a family business must weave together its history, values, and vision into a coherent and resonant story. The foundation of an authentic family business narrative lies in its origin story. This is where the business began—its inception, the motivations of its founders, and the context in which it emerged. More than a list of dates and milestones, an effective origin story captures the spirit of the business, highlighting the human and emotional elements that led to its creation. Whether born from a deep-seated passion, a desire to address a pressing need, or a commitment to community, the origin story is the first building block in creating a narrative that resonates with authenticity. A strong narrative must also reflect the core values that drive the business. These values are the guiding principles that shape decision-making, customer relationships, and the overall approach to operations. They distinguish a family business from its competitors and provide a moral compass that aligns the company’s actions with its mission. Whether it is a commitment to sustainability, a focus on craftsmanship, or an emphasis on community service, these values should be clearly articulated and consistently demonstrated. By embedding these principles into the narrative, a family business reinforces its authenticity and builds trust with its audience. Equally important is the ability to highlight the generational journey of the business. Family businesses are often defined by the interplay of multiple generations, each contributing to the enterprise in its own way. This aspect of the narrative should showcase how the business has evolved over time, while also emphasising the continuity of its mission and values. The transitions between generations, while sometimes fraught with challenges, add richness to the story, demonstrating adaptability and resilience. A narrative that openly explores these dynamics can resonate deeply, as it reflects the lived reality of families and businesses alike. Authenticity in storytelling also requires a delicate balance between the personal and the professional. Family businesses derive much of their strength from the personal connections and shared experiences of the people involved. Including personal anecdotes, traditions, or defining moments can make the narrative relatable and memorable. However, it is crucial to avoid overemphasising the personal to the point where it overshadows the professionalism of the enterprise. Striking the right balance ensures that the business is perceived as both human and competent, a combination that strengthens its appeal. Visual storytelling is another powerful tool in building an authentic narrative. Photographs, videos, and other visual elements can bring the story to life in ways that words alone cannot. Archival images, behind-the-scenes glimpses, and candid moments of family members working together create a vivid and engaging picture of the business’s journey. In today’s digital age, visual content is particularly effective in reaching audiences on social media and other platforms, allowing the narrative to unfold dynamically over time. A family business narrative is incomplete without acknowledging its relationship with the wider community. These businesses often thrive because of their deep ties to the people and places they serve. Celebrating these connections adds another layer of authenticity to the story. Whether through sponsorships, charitable initiatives, or collaborations with local organisations, these relationships highlight the business’s commitment to making a positive impact beyond its own walls. One of the most compelling aspects of an authentic narrative is its willingness to be vulnerable. Challenges and setbacks are an inevitable part of any business journey, and acknowledging them adds credibility to the story. Whether it is a financial struggle, a disagreement among family members, or an industry-wide disruption, these moments of adversity demonstrate the business’s resilience and ability to adapt. By sharing these experiences honestly, the narrative becomes more relatable and inspiring. Engaging stakeholders in the storytelling process further enhances authenticity. Employees, customers, and other members of the community often have their own experiences and perspectives on the business. Incorporating these voices into the narrative provides a richer and more multidimensional portrayal of the business’s impact. Customers who share their loyalty stories or employees who describe their long-standing relationships with the family can validate the narrative from an external perspective. Finally, an authentic family business narrative must strike a balance between consistency and evolution. While the core values and mission should remain steadfast, the way the story is told can and should adapt to changing times and platforms. Modern audiences expect narratives to be accessible, engaging, and relevant to current issues. By staying true to its essence while embracing new methods of storytelling, a family business can ensure that its narrative remains vibrant and meaningful. An authentic family business narrative is more than a collection of stories—it is a reflection of identity, values, and legacy. It connects the past with the present, the personal with the professional, and the business with the community. By crafting a narrative rooted in honesty and driven by a clear vision, family businesses can forge lasting emotional connections with their audiences. In doing so, they not only honour their heritage but also position themselves for a future defined by trust and shared purpose.

Expanding a family business into overseas markets can be both an exciting and challenging endeavour. While the opportunities for growth, diversification, and global recognition are enticing, the path to establishing a successful international presence is fraught with practical challenges. For family businesses, the stakes are particularly high. Unlike large corporations with abundant resources, family enterprises often operate with unique constraints, such as a smaller talent pool, and the need to preserve family values and control. So what are the key practical issues involved in developing an overseas operation for a family business, including financial considerations, cultural adaptation, legal complexities, human resource management, and governance. Financial Challenges: Capital Investment and Cash Flow Management One of the foremost challenges in international expansion is securing the necessary financial resources. Overseas ventures often require significant capital investment for establishing operations, whether through building infrastructure, setting up supply chains, or adapting products to local markets. For family businesses, the ability to raise capital may be limited by a reliance on personal or family-owned resources rather than external financing. This reliance on internal funding can strain the existing business operations and limit growth potential. Moreover, managing cash flow in a foreign market poses additional challenges. Differences in currency, fluctuating exchange rates, and varying tax regimes can complicate financial planning. A family business must ensure that its overseas operations are financially sustainable without putting undue pressure on the core domestic business. Inadequate financial forecasting can lead to liquidity crises or, worse, the failure of the entire operation. Cultural Adaptation: Understanding Local Markets Cultural differences are often underestimated by businesses expanding overseas, yet they can make or break a venture. A family business, often steeped in tradition and local knowledge, may struggle to adapt to the cultural nuances of a foreign market. Consumer preferences, purchasing behaviour, and marketing strategies that work well in the domestic market may not translate effectively abroad. For instance, a product that holds cultural significance in the home country may be misunderstood or undervalued in another region. Additionally, internal company culture plays a significant role. Family businesses tend to have strong, values-based cultures, which may be difficult to replicate or integrate into a different cultural context. Hiring local staff, for instance, may require adjustments in management style, communication, and expectations. A failure to understand and respect local customs and business etiquette can lead to misunderstandings, strained relationships, or even a tarnished brand image. Legal & Regulatory Complexities Navigating the legal and regulatory landscape of a foreign market is one of the most complex aspects of international expansion. Every country has its own set of laws governing business operations, taxation, employment, and intellectual property rights. For a family business, which may not have the legal infrastructure of a multinational corporation, understanding and complying with these regulations can be daunting and costly. For example, in some countries, foreign ownership may be restricted or subjected to joint venture requirements. In others, regulatory frameworks may be less transparent, increasing the risk of non-compliance or legal disputes. Labour laws, environmental regulations, and health and safety standards may also differ significantly from those in the home country, requiring careful attention to avoid penalties or reputational damage. Taxation is another critical area where legal issues arise. Double taxation treaties, VAT regulations, and import/export duties can add layers of complexity to financial operations. If a family business lacks the expertise to navigate these tax challenges, it may face unexpected costs that undermine the profitability of the overseas venture. Human Resource Management: Talent Acquisition and Retention Human resource management is a core challenge in any international business venture, but for family businesses, it takes on additional complexity. The tight-knit, often informal management structure typical of family-run businesses may not easily translate to a foreign workforce. Furthermore, attracting and retaining top local talent can be difficult, particularly when competing with large multinationals that may offer more attractive compensation packages and career advancement opportunities. A family business must also decide how much of its domestic management style and practices can or should be transplanted to the overseas operation. Sending family members to oversee the new venture is a common approach, but it has its drawbacks. These individuals may lack local expertise or cultural sensitivity, which can hinder their effectiveness. Alternatively, relying solely on local management may create tensions between the overseas branch and the family-run headquarters, leading to issues with alignment and strategic focus. Additionally, labour laws and employment practices vary widely across countries, requiring careful navigation to ensure compliance. Issues such as working hours, employee benefits, and union regulations can all impact the cost and management of an overseas workforce. A failure to adapt to local labour conditions can result in high turnover rates, low morale, or legal challenges. Governance and Control: Balancing Family Involvement and Professional Management One of the defining features of a family business is the direct involvement of family members in key decision-making roles. However, expanding into international markets often requires a shift toward more professionalised management structures. The need for local expertise, the complexity of operating in a foreign market, and the sheer distance from headquarters can make it difficult for family members to maintain the same level of control. Balancing the desire for family control with the need for professional management is a common challenge. Family businesses may be reluctant to cede authority to local managers or external advisors, fearing a loss of the family’s vision and values. On the other hand, micromanagement from afar can lead to inefficiencies and frustration among local staff, who may feel undermined or restricted in their ability to respond to market demands. Establishing clear governance structures is essential for navigating these tensions. This may involve setting up advisory boards with both family members and external experts or delegating more authority to local managers while retaining oversight from the family. Transparency and communication are critical to ensuring that the overseas operation remains aligned with the broader goals and values of the family business. Succession Planning: The Next Generation’s Role in Global Expansion Succession planning is a perennial issue for family businesses, but it takes on added importance in the context of international expansion. The decision to expand overseas often coincides with generational transitions, as the younger generation may be more inclined to pursue global opportunities than their predecessors. However, the involvement of the next generation brings its own set of challenges. First, there is the question of whether the younger family members have the necessary skills and experience to manage international operations. They may need to develop expertise in areas such as cross-cultural management, international finance, and global supply chain logistics, which may not have been a focus of the family business previously. Second, there is the issue of aligning family interests across generations. While the older generation may prioritise preserving the family legacy and core business, the younger generation may be more interested in pursuing growth and innovation through international expansion. Striking a balance between these competing interests is crucial for long-term success. Expanding a family business into overseas markets is a complex and challenging process that requires careful planning, significant investment, and a willingness to adapt. The practical issues—from financial constraints to cultural adaptation, legal challenges, and governance—are numerous and multifaceted. However, with the right strategies, family businesses can overcome these obstacles and successfully navigate the global marketplace. To thrive in this new environment, family businesses must be willing to professionalise their operations, embrace local expertise, and balance the demands of family control with the complexities of international business. In doing so, they can not only preserve their legacy but also position themselves for sustained growth in an increasingly interconnected world.

Deloitte Global has released its Technology, Media & Telecommunications (TMT) 2025 predictions  report, forecasting a pivotal gap year for Generative AI (GenAI) and the TMT sector—spanning from technical challenges for the industry to societal imperatives. By addressing challenges in infrastructure, gender equity, energy consumption, trust, and capabilities, the industry could be poised for a significant leap forward and is well positioned to determine the future of Al’s legacy. Key Takeaways:   GenAI Driving Data Center Energy Consumption Surge : Electricity consumption by global data centers is forecasted to double to 4% by 2030 as power-intensive GenAI consumption grows faster than other uses and applications. Women’s Adoption Gap In GenAI Usage Closing Quickly : By 2025, women’s experimentation and usage of GenAI is projected to meet or exceed that of men, but tech companies still should improve trust, representation in training models, and diversity in the AI workforce. Enterprise Use Of AI Agents On The Rise : 25% of enterprises using GenAI are forecast to deploy AI agents in 2025, growing to 50% by 2027. GenAI Set To Make Devices Smarter : In 2025, the share of shipped GenAI enabled smartphones could exceed 30%, in addition to about 50% of laptops with local GenAI processing capabilities. Streaming Fatigue Fuels Shift To Aggregated Platforms : The number of streaming video-on-demand subscriptions (SVOD) per household is forecast to peak in 2025 at four services in the US and a little over two in Europe, then decline going forward. Telecom Consolidation Expected To Reshape Global Markets : Wireless telecom mergers and acquisitions are likely to rise, especially in Europe, enhancing network resilience and efficiency. "We are standing on the brink of a new era in human invention and the choices we make today around the development and use of artificial intelligence will shape the future,” says Deloitte Global TMT Industry Leader Ariane Bucaille. “As we define the roadmap for Generative AI, we must navigate many challenges. By embracing trust, inclusivity, and sustainability, we can ensure that technological advancements positively impact not only the current generation but also businesses, consumers, and broader communities for generations to come.” GenAI expected to double data center energy usage with advanced technologies helping in clean energy transition Deloitte predicts that global data center electricity consumption could roughly double to 1,065 terawatt-hour (TWh) by 2030—or 4% of total global energy consumption, as power-intensive GenAI training and inference continue to grow faster than other uses and applications. Tech companies—including cloud providers, semiconductor companies, and data center operators—can help drive the clean energy transition and mitigate the growth in electricity usage. They may leverage substantial financial resources that their partners—innovators, renewable energy producers, and utilities—may lack. Major tech companies are actively investing in more efficient chips, innovative cooling solutions, energy-efficient designs, and carbon-free energy sources and are committed to achieving net-zero targets. While Deloitte predicts that these collaborations have the potential to mitigate the energy impact of GenAI, many associated research and development initiatives and pilot programs are expected to take years to yield tangible results and return on investment. Women’s use of GenAI projected to match that of men in 2025 in US but global gaps remain Deloitte predicts that experimentation and usage of GenAI by women will equal or exceed that of men in the US by the end of 2025. In 2023, women’s use of GenAI was just half that of men. However, over the past year, the proportion of women in the US adopting GenAI has tripled, significantly outpacing the 2.2x growth rate seen among men. Around the world, countries and regions are expected to close the adoption gap at varying rates with some achieving equal usage by men and women in 2025 and others in 2026. “While the rapid increase in women’s adoption of GenAI is promising, eliminating gender disparities in GenAI will require focused efforts. Women in tech - who are using GenAI more than their male counterparts for everyday tasks - can be an important cohort to help drive change. Tech companies must enhance trust, reduce bias, and strive for more diverse GenAI workforces – including at the leadership level – to ensure that everyone can fully engage with and benefit from GenAI technologies. By doing so, companies can unlock greater innovation and broaden their consumer base ensuring products and services are equitable and effective globally,” says Gillian Crossan, Deloitte Global Technology Sector Leader. AI agents are on the rise with 25% enterprise adoption expected by 2025 Deloitte predicts that 25% of enterprises using GenAI are expected to deploy AI agents in 2025, growing to 50% by 2027. The growth of AI agents—software solutions designed to complete tasks with minimal human intervention—will be fueled by innovation from both start-ups and established industry leaders identifying new revenue opportunities. Built on large language models, these AI agents will offer greater flexibility and a wider array of use cases compared to traditional machine learning or deep learning methods. While the ultimate aim is to achieve autonomous and dependable agents, Deloitte expects significant improvements in their capabilities in 2025 as these technologies rapidly advance, with agentic AI moving past pilots and proofs of concepts in some markets and for some applications in 2025. While early adopters will grapple with complexities and challenges, the vision is compelling enough for organizations to take proactive steps to prepare themselves now for adoption. This evolution will enable AI agents to tackle a broader range of applications, providing businesses with valuable tools to drive productivity of knowledge workers and efficiency gains in workflows of all kinds. Smartphone and PCs put the power of GenAI to test As smartphone and PC manufacturers aim to reignite consumer excitement, Deloitte forecasts that in 2025 GenAI-enabled smartphones will exceed 30% of total shipments. PCs with local GenAI processing capabilities will be around 50% of total shipments, rising from 30% in 2024. 2025 is a pivotal year to evaluate the value and comprehensiveness of early GenAI functionalities. Although Deloitte predicts a 7% increase in global smartphone shipments (up from 5% in 2024) in 2025, the revenue impact is higher than the volume impact as consumers buy higher-priced premium smartphones equipped with advanced GenAI features. But time will tell how quickly users adopt the innovative features that providers are hoping to drive sales. Fatigue and cost fuel rise of aggregated streaming platforms After peaking at around four subscriptions per consumer in the US and over two in most European markets in 2024, Deloitte predicts that SVOD stacking—the trend of subscribing to multiple standalone video-on-demand services—has reached its limit and will start declining in 2025. While standalone subscriptions are expected to decline, SVOD revenues may still rise as providers implement price hikes, tighten password-sharing policies, and enhance bundling options. Deloitte forecasts that the market will stabilize with just two or three standalone direct to consumer SVOD players per market, complemented by aggregators. Echoing the traditional model of pay TV providers, Deloitte forecasts a resurgence of aggregation, where intermediaries—like telcos, pay TV platforms, and tech platforms—will consolidate multiple content sources into single offerings. This shift may reduce costs and create a more sustainable streaming ecosystem. "This shift from a promising, user-centric model to a complex, fragmented experience has created a call for a return to aggregation, echoing the simplicity and accessibility that initially drove the streaming revolution,” says Kevin Westcott, Deloitte Global Telecommunications, Media & Entertainment (TM&E) Sector Leader. “We now expect to see a new era of streaming, one that prioritizes user experience and innovation. The future of AI-powered streaming lies in platforms that can anticipate individual preferences, deliver tailored content, and blur the lines between traditional viewing and interactive experiences." Telecom consolidation reshapes global markets Deloitte predicts that there will be an increased pace of wireless telecom consolidation, especially in Europe, beginning in 2025 and continuing on, creating a more viable and sustainable wireless ecosystem, especially in smaller markets. While Deloitte forecasts that the overall number of M&A deals will remain steady at about 400, the focus will shift towards market-level consolidation, with smaller telecom companies targeted by larger players. Since 2020, 13 telecom mergers have been approved or are under consideration, including six in the Americas, five in Asia-Pacific, and two in Europe.

Artificial Intelligence (AI) is revolutionising industries worldwide, and family businesses are no exception. Often characterised by deep-rooted traditions and long-term perspectives, family businesses can leverage AI to enhance their operations, drive growth, and secure their legacy for future generations. Here’s a closer look at how AI can benefit and create opportunities within a family business. 1. Streamlining Operations One of the most immediate benefits of AI is its ability to automate routine tasks, freeing up valuable time for family members to focus on strategic initiatives. AI-driven tools can handle tasks such as stock management, payroll processing, and customer service inquiries, reducing the burden on staff and minimising human error. For example, a family-owned retail business can use AI to manage stock levels more efficiently, ensuring products are available when customers need them without overstocking which will have an immediate impact on working capital too. 2. Enhanced Decision-Making AI’s data analytics capabilities can provide family businesses with deeper insights into market trends, customer behaviours, and operational efficiencies. By analysing large datasets quickly and accurately, AI can help businesses make informed decisions. For instance, a family-run restaurant can use AI to analyse customer feedback and sales data, allowing them to refine their menu and marketing strategies to better meet customer preferences. 3. Personalised Customer Experiences In an era where customer experience is paramount, AI enables family businesses to offer personalised services that can significantly enhance customer satisfaction and loyalty. AI algorithms can analyse customer data to provide personalised product recommendations, tailor marketing messages, and even predict future buying behaviours. A family-owned e-commerce business, for example, can use AI to personalise the shopping experience for each customer, increasing engagement and sales and suggest products that other shoppers have purchased to boost conversion and add-on sales. 4. Cost Reduction And Efficiency AI can help family businesses reduce costs by optimising various aspects of their operations. Predictive maintenance powered by AI can forecast equipment failures and schedule timely maintenance, thereby preventing costly downtime. Additionally, AI-driven supply chain management can enhance efficiency by optimising routes, reducing transportation costs, and improving supplier negotiations. 5. Innovation And Competitive Edge AI fosters innovation by providing family businesses with the tools to develop new products and services. By leveraging AI for research and development, businesses can identify gaps in the market, test new ideas rapidly, and bring innovative solutions to market faster. This can be particularly advantageous for family businesses looking to stay competitive in a rapidly changing market landscape. 6. Risk Management AI can enhance risk management by identifying potential threats and vulnerabilities in real-time. Family businesses can use AI to monitor financial transactions for fraud, assess credit risks, and ensure compliance with regulatory requirements. By proactively managing risks, businesses can protect their assets and reputation. "For family businesses, AI is not just a technological advancement but a strategic ally that can help navigate the complexities of modern business." "By embracing AI, family businesses can enhance their operational efficiency, make data-driven decisions, offer personalised customer experiences, and drive innovation." "As AI continues to evolve, it presents an unprecedented opportunity for family businesses to secure their legacy and thrive in the competitive business landscape."

In the largest poll of business sentiment since October’s Budget, the BCC ’s Quarterly Economic Survey, shows concern about tax, including national insurance, has spiked. Following the Chancellor’s autumn statement, 63% of firms cited it as a worry (compared with 48% in Q3), the highest level on record. Concern about inflation and interest rates remains at similar levels to Q3. Business confidence has declined significantly with 49% of responding companies expecting their turnover to increase over the next twelve months (compared with 56% in Q3). Confidence levels are lowest in the retail and hospitality sectors (39% and 42% respectively). The survey was conducted after the Budget, with the fieldwork carried out between 11th November and 9th December. The data from over 4,800 businesses across the UK (91% of whom are SMEs – fewer than 250 employees) also shows that the majority of firms are expecting to raise prices. Tax Now By Far The Top External Concern Following the Budget, concern about taxation is now cited by 63% of responding firms, up from 48% in Q3. This is the highest level of tax concern since 2017, when the BCC started asking this question. The levels in certain sectors are higher, with 72% of production and manufacturing firms, and 68% of construction and engineering businesses raising tax as a concern. Concern about inflation remains broadly similar to the previous quarter – 47% compared to 46% in Q3. Worry about interest rates has fallen slightly to 28% (29% in Q3). Business Confidence Hit By Budget Measures There has been a significant drop in business confidence since the Chancellor’s statement. Only 49% of firms say they expect their turnover to increase in the next twelve months, down from 56% in Q3. This is the lowest figure since the aftermath of the mini budget in late 2022. A fifth (21%) of businesses expect turnover to worsen, up from 15% in Q3, and 30% expect no change. Profitability confidence has also been hit, 40% of firms expect profits to increase over the next year (48% in Q3), while 32% of businesses expect them to fall. More Businesses Expecting To Raise Prices   Over half (55%) of responding firms say they expect to raise their prices in the next three months, compared with 39% in Q3. While 43% of businesses expect prices to stay the same, and only 2% expecting to decrease. Labour continues to be the main cost pressure for firms – but the issue is now raised by 75% of businesses, up from 66% in Q3. The issue is most significant for the hospitality sector with 87% reporting it as a challenge, followed by 84% of firms in the transport and logistics sector. Fewer Firms Have Increased Investment Plans   Only 20% of businesses say they have increased investment plans over the last quarter, down from 23% in Q3. 24% of firms say they have cut back investment plans, a steep rise from the Q3 figure of 18%. 56% of businesses say their plans have remained the same. The issue is more marked in certain sectors, with 42% of retail and hospitality firms reporting a scaling back of investment and 30% of manufacturers. Business Conditions Struggle The percentage of respondents reporting increased domestic sales has fallen again to 32%, compared to 35% in Q3. 42% reported no change and 26% of firms said they had seen a decrease in sales. Retailers were the most likely to have seen a fall in sales (36%) followed by manufacturers (33%). What businesses have to say: “The budget has been devastating, the failure to introduce the promised business rate reform while introducing the NI changes will have a detrimental impact on the high street and the wider economy.” Large hospitality firm in North West England “NIC Increases will have a significant impact on costs which as a price taker we are unable to pass on to customers so this will hit our profitability” Large manufacturing firm in Northern Ireland “Labour’s decision to increase National Insurance for businesses has been a hammer blow to business confidence & has caused reversal in plans to increase investment.” Small Construction Firm in Scotland “The NI increase is a real concern for us; we are a hospice. It will add £225k to our payroll, and we cannot afford it.” Medium public sector firm in East of England Shevaun Haviland, Director General of the British Chambers of Commerce said: “The worrying reverberations of the Budget are clear to see in our survey data. Businesses confidence has slumped in a pressure cooker of rising costs and taxes." “Firms of all shapes and sizes are telling us the national insurance hike is particularly damaging. Businesses are already cutting back on investment and say they will have to put up prices in the coming months." “The Government is rightly coming up with long-term strategies on industry, infrastructure and trade. But those plans won’t help businesses struggling now." “Business stands ready to work in partnership to make the proposed Employment Rights legislation work for all, but the current plans will add further costs on firms." “To help business we need to see quick action in three specific areas. Firstly, ministers should accelerate business rate reform to create a system that incentives investment." “We also need the Government to speed up infrastructure investment, to help SMEs in supply chains across the country. Finally, it’s crucial to support exports, prioritising a better trading deal with the European Union." “Without urgent Government action to ease the pain on businesses, the challenging economic landscape will get worse before it gets better.” David Bharier, Head of Research at the British Chambers of Commerce said: “This dataset is a clear signal that business sentiment has been significantly impacted following recent policy announcements, notably national insurance increases. Taxation is now by far the biggest concern, cited by 63% of businesses." “Confidence has now dipped to 2022 levels, with less than half of firms expecting improved turnover over the next year and over a fifth now expecting it to worsen." “Faced with rising costs, our survey paints a difficult picture and shows businesses are having to make some very difficult decisions. Many tell us they expect to push up prices and cut back on investment and we expect this to lead to a low or no-growth economic climate in the coming months.”

Cambridge-based company Autopickr, together with Coopers Croft Vineyard and WineGB, have been awarded over £475,000 in Government funding for a pioneering robotics project. Autopickr, known for their autonomous robots for agricultural use, are leading the project which is being supported by Innovate UK and the Department for Environment Food and Rural Affairs (Defra) through the Farming Innovation Programme. Having recently been the recipient of the Innovation in Agriculture award at the 2024 Robotics and Automation awards, Autopickr is now developing a new robot, aptly named ‘Vinny’, which will be capable of performing multiple key vineyard tasks. Working alongside Coopers Croft Vineyard in Suffolk and trade association WineGB, the project aims to create a sophisticated robot that can mimic hand-picking as well as assisting with green harvesting and canopy management. Autopickr has also developed an automated asparagus harvester, which won a Cofinitive #21toWatch award for agritech this year and is due to have its second trial season within the next year. This technology will be adapted and further advanced to create a solution that can be used in vineyards. The robot can travel up/down slopes, operate at fruit zone height, and through a unique artificial vision system, distinguish between unripe and ripe grapes, picking whole bunches once they are ready. Most machine harvesters agitate the vines to extract grapes, meaning that whole bunches can only be picked by hand. Many wine producers, particularly those that make premium traditional method sparkling wine, insist on the use of whole bunches. Commenting on the robotics project, Robyn Sands, Co-Founder and CEO of Autopickr, said: “We’re pleased to be collaborating with British vineyards to bring new robotic solutions into the wine industry." "Our focus is on providing a practical tool that can take on some of the labour demands in the vineyard, especially during the busiest times of the year, while helping maintain the quality that matters so much in winemaking.” This year, vineyards in the UK surpassed the 1,000 milestone for the first time, now totalling 1,033. The area under vine now stands at 4,209 hectares, according to Government data, representing a growth rate of 123% in a decade. According to the South Downs National Park Viticulture Growth Assessment Report (2021), vineyards employ 17 times more people per hectare than traditional arable farming. With 2,300 people working full-time, and a further 8,300 employed in seasonal or part-time labour in the British wine industry, this robot is intended to help vineyard managers with labour challenges without sacrificing quality and attention to detail. Once developed, the robot will be available to both purchase and rent. Phoebe French, Communications Manager at WineGB, commented: “With a 50% growth rate in full-time equivalent positions forecast by 2025 in our industry, this project has the potential to supplement skilled labour required in the vineyard, particularly at busy periods such as harvest.”

According to the Quantifying Data Skills Gap report, almost half of all workers surveyed had not received data skills training despite showing an interest, highlighting a disconnect between business and education. The IT, software, and computer services sector is worth £50.7 billion annually to the British economy, so it's little surprise that data skills have become the currency of success. From data analysis to machine learning, organisations across industries rely on skilled professionals to extract insights, drive innovation, and make informed decisions. David Banaghan, Co-Founder and Interim CEO at recruitment systems provider, Occupop said: “With an estimated shortfall of 178.000 to 234,000 roles requiring hard data skills, this represents a significant hole in the UK economy, which is particularly pressing in a high-growth industry." “With the supply of data scientists from the UK universities unlikely to exceed 10,000 per year, demand will continue to outpace supply, so businesses should look at improving access to digital skills training internally to remain competitive.” Here are some top tips to help your workforce learn the language of tech: Understanding the Data Skills Gap Despite this clear demand for data skills, 46% of businesses are facing challenges in recruiting for data specialist roles. This is also matched by workers saying they have not received any skills training within the same period. This highlights a need for businesses to upskill their existing workforce before looking externally. Closing the Data Skills Gap Arguably, to successfully bridge the data skills gap, businesses must collaborate with educational providers to create better pathways for digital skill development. Here is some food for thought: Lifelong Learning Programmes Upskilling : Employers should invest in learning programs that empower employees to acquire new skills. These programs can include workshops, online courses, and certifications in data analytics, programming and machine learning. Flexible Learning : Many employees have diverse schedules and commitments. Offer flexible learning formats, such as microlearning modules, lunchtime seminars and evening classes to accommodate different learning preferences and fit training around client work. Partnerships with Further Education Collaborate with Universities : Businesses can partner with universities to design curriculum that aligns with specific industry needs. Guest lectures, internships and joint research projects can bridge the gap between academia and practical skills. Support Bootcamps : Bootcamps and intensive training programs provide focused, hands-on learning experiences. Encourage employees to participate in these and consider sponsoring scholarships or tuition reimbursement. Digital Apprenticeships Apprenticeships : Figures for the 2023/24 academic year show that apprenticeships are up 2.5% from the previous year, and it’s easy to see why. These combine on-the-job training with classroom learning, allowing individuals to gain practical experience while earning a wage. Government Support : Advocate for government funding and incentives to promote digital apprenticeships. Governments can play a crucial role in facilitating partnerships between businesses and apprenticeship providers. Data Literacy Initiatives Company-Wide Data Literacy : Promote data literacy across all departments, not just IT or data science teams. Ensure everyone understands the basics of data analysis, visualisation and interpretation. Enrol Data Champions : Appoint designated data champions within different teams. These individuals can champion data literacy, answer questions and assist with data-driven decision-making. The data skills gap is a challenge but also presents an opportunity for growth. By investing in education, training and collaboration, forward-thinking businesses can empower their workforce to thrive in a digital future.

Nectar360 which owns and operates Nectar, the UK’s largest coalition loyalty scheme, has extended its partnership with the Woodland Trust until 2027. This collaboration allows customers to support vital conservation efforts while earning rewards for their everyday shopping. The Nectar and Woodland Trust partnership was launched in 2021, following a successful corporate partnership between the charity and Sainsburys which has been in place since 2004; playing a key role in conservation projects, including planting over 5.1 million trees and protecting more than 2,000 acres of woodland across the UK. The extended partnership provides customers with ways to get involved and make a positive environmental impact while collecting Nectar points: Earning 20 points for every £1 spent on Woodland Trust memberships online, directly supporting conservation Members can collect triple points on Sainsbury’s favourites, including apples, eggs, chicken, turkey, reusable bags and cards Donating points to fund Woodland Trust initiatives, such as: 500 points to create wildflower meadows 2,000 points to plant a tree 5,000 points to restore woodlands, helping capture one tonne of carbon annually Amir Rasekh, Director of Nectar360, said: “The partnership with the Woodland Trust offers customers a simple way to support the environment while earning rewards. As part of Sainsbury’s Plan for Better, the company is committed to protecting and regenerating natural ecosystems and collaborations like this are key to achieving those goals.” The partnership with the Woodland Trust highlights both Nectar’s and Sainsbury’s commitment to sustainability. Through Sainsbury’s Plan for Better, the business is focused on reducing carbon emissions, food waste and plastic, while improving recycling, water efficiency, and biodiversity efforts. Nectar’s role in this initiative provides customers with even more ways to actively contribute to these goals while enjoying rewards. The Woodland Trust was established in 1972 and is now the UK’s largest woodland conservation charity, with more than 500,000 members and supporters. With a vision of a world where woods and trees thrive for people and nature, today the Trust owns and cares for more than 1,000 woodland sites, covering around 33,000 hectares. The Woodland Trust has three key aims: Protecting the UK’s rare, unique and irreplaceable ancient woodland. Restoring damaged ancient woodland, nurturing precious pieces of our natural heritage back to life. Establishing new native trees and woods to create healthy, resilient landscapes for people and wildlife. Access to all Woodland Trust woods is free so everyone can experience the physical and mental benefits of trees.