// LATEST UPDATES //
Small business growth forecasts fall for the first time since July 2024
The percentage of UK small business owners predicting growth ( 33 %) has dipped to a nine-month low , according to the latest quarterly data from Novuna Business Finance . Whilst 45 % see Q1 as a standstill period , there is a four-year high in the percentage of small businesses saying they will contract by the end of March ( 13 %) and the percentage of enterprises that fear closure in the next three months has hit a two-year peak ( 8 %).
The findings are from Novuna Business Finance ’ s Business Barometer study , which has tracked the growth forecasts of more than 1,000 small business owners every quarter for the last 11 years . Following the Bank of England cutting interest rates and reducing its economic growth forecasts for 2025 , the new Novuna Business Finance data reveals that UK small business owners are already gearing up for contraction , with major falls in growth forecasts already registered across many key regions – where there has been abrupt change since the start of 2025 .
XTransfer and Ecobank Group partner to empower African SMEs ’ foreign trade
XTransfer , a leading B2B cross-border trade payment platform , and Ecobank Group , a leading private pan-African financial services group with unrivalled African expertise , have signed a landmark Memorandum of Understanding of Cooperation ( MOU ) to roll out comprehensive cross-border financial services to Africa ’ s SMEs engaged in foreign trade . The collaboration will facilitate trade between China and African countries .
In recent years , China and Africa have continued to deepen trade cooperation , with the scale of imports and exports rising rapidly . In 2023 , bilateral trade reached a record US $ 282 billion . From January to November 2024 , China ’ s exports to Africa totalled US $ 160 billion , a 1.4 % increase from the previous year , while imports from Africa reached US $ 107 billion , marking a substantial rise of 6.6 %.
Despite this growth , African SMEs engaged in foreign trade face numerous challenges related to cross-border payments and fund collections .
Atlys announces its expansion to the UK
For millions of travellers , planning a trip abroad means facing uncertainty and anxiety as they jump through hoops trying to satisfy complex visa requirements . In order to tackle this kind of travel inequality , Atlys has announced its expansion into the UK market . The digital visa platform ’ s UK expansion follows a fresh US $ 20 million funding round from marquee global investors .
As part of its UK expansion , Atlys has acquired Artionis , a UK-based visa services company , bringing aboard 40 specialists across offices in London , Manchester and Edinburgh . It plans to double headcount to 80 employees in the UK this year . The acquisition strengthens Atlys ’ expertise in specialised visa routes , that will cater to 36 % of the UK population made up of non-UK passport holders as well as those who prefer a DIY approach to visa applications .
“ Expanding to the UK represents more than just market growth – it ’ s about creating a more equitable travel ecosystem ,” said Mohak Nahta , Founder and CEO of Atlys . �
10 Intelligent SME . tech