A small business from Barnsley, Slime Party UK, has successfully secured government-backed financing, enabling it to significantly expand its operations, create new jobs, and develop new product lines.

According to consultancy Cornwall Insight, domestic energy prices are predicted to drop in April with analysts predicting that there could be a further fall in the summer. This is good news all round, as energy prices have been a significant factor in the UK’s high inflation rate. A drop in energy prices could lead to a drop in interest rates, and with it a more positive outlook in the economy.

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The Bank of England (BOE) recently held interest rates at 5.25% and warned that the restrictive policy will remain for an extended period, despite the bleak economic outlook. BOE forecasts suggest the UK will not get to the 2% inflation target until the end of 2025. They expect inflation to fall to around 5% by the end of this year. Their forecasts also predict that output will remain stagnant in 2024. The Chancellor, Jeremy Hunt, remains more optimistic and was quoted as saying that the UK economy has remained far more resilient than many expected.

A company might have a great product or service but without a business growth strategy to help it define, articulate, and communicate where it is going, it may not grow at all!