Month: November 2023

House prices in October were 0.9 per cent higher than in September, figures from lender Nationwide showed before the Bank makes its interest rate call tomorrow. .
Compared with October last year, prices were down 3.3 per cent, a less sharp fall than September’s 5.3 per cent drop, Nationwide said.
This comes after the Bank of England raised interest rates for 14 consecutive occasions in its battle against inflation, before holding on the previous, last month. All eyes will be on the Bank’s Monetary Policy Committee’s decision tomorrow.
Robert Gardner, Nationwide’s Chief Economist, said: “October saw a 0.9 per cent rise in UK house prices, after taking account of seasonal effects. This resulted in an improvement in the annual rate of house price growth to -3.3 per cent, from -5.3 per cent in September.
“Nevertheless, housing market activity has remained extremely weak, with just 43,300 mortgages approved for house purchase in September, around 30 per cent below the monthly average prevailing in 2019.
He added, ahead of an expected hold by the Bank according to some economics, that: “With Bank Rate not expected to decline significantly in the years ahead, borrowing costs are unlikely to return to the historic lows seen in the aftermath of the pandemic.
“Instead, it appears likely that a combination of solid income growth, together with modestly lower house prices and mortgage rates, will gradually improve affordability over time, with housing market activity remaining fairly subdued in the interim.”
Matt Thompson, head of sales at Chestertons, says: “The recent price adjustment that some of the property market has seen, led to more house hunters continuing their search in October with sellers receiving an increasing number of offers that month.
“The vast majority of buyers have accepted that interest rates are here to stay and, after readjusting their budget or search criteria, are no longer willing to delay their property search any further.”
Meanwhile, Jeremy Leaf, north London estate agent and a former RICS residential chairman, says: ’These figures, though historically reliable, only cover Nationwide’s customers and don’t include cash buyers who are active at present.
‘High mortgage rates and inflation may be compromising buyer demand but strong employment and shortage of properties for sale in areas of highest demand is keeping prices strong.’
Tom Bill, head of UK residential research at estate agent Knight Frank, added that: “sentiment in the UK housing market is weak but unlike the early months of Covid or the period following the mini-budget, there is no single cause.”
“The seasonal bounce in activity didn’t happen this autumn, although price falls have been kept in check by weak supply. We expect UK prices to fall by seven per cent this year and four per cent next year as inflation comes under control and mortgage rates stabilise.”
Read more:
Surprise in month on month house prices rise suggests property market beginning to stabilise

Did you know that while 5% of adults have ADHD, 29% of entrepreneurs do? Bill Gates and Richard Branson are just two successful businesspeople who have been open about their diagnoses.
Undoubtedly, entrepreneurs with ADHD possess a unique blend of creativity, resilience, and adaptability that can serve as powerful drivers of success.
But it’s essential to be aware of pitfalls like distractibility and burnout.
Whether you have an official diagnosis or self-identify as having ADHD, the right support and self-care strategies can turn what some might see as a limitation into your greatest entrepreneurial asset.
What is neurodiversity, and why are we talking about it?
Neurodiversity describes the natural variation in the human brain and how people think, learn and process information differently.
Around one in seven people are neurodivergent, the umbrella term which includes autism spectrum conditions, ADHD, dyslexia and dyspraxia.
This conversation matters because, in embracing neurodiversity, we don’t just acknowledge differences; we can optimise for them.
Why does neurodiversity matter in entrepreneurship?
Entrepreneurship thrives on different ways of seeing and solving problems, precisely where many neurodiverse people excel.
For me, entrepreneurship was more than an option; it was a necessity.
Traditional work environments stifled my creativity and didn’t cater to my unique ways of thinking.
The entrepreneurial path provided the freedom to explore, create, and execute my visions, however unconventional they might have been.
What’s the link between ADHD and entrepreneurship?
ADHD is a neurodevelopmental disorder that affects the structure and function of the brain and nervous system. It is presumed to be present from birth.
Living with ADHD presents a unique blend of challenges and advantages, shaped by its severe impact on focus and impulsivity.
How do I describe my ADHD? It’s like having a brain with the horsepower of a Ferrari but the braking speed of a cheap bicycle. Or having a powerful internal motor that never shuts off. It’s constantly having 100 internet tabs open in my brain. It’s exhausting. But it also brings many gifts – or, as I prefer to call them, superpowers.
ADHD has given me natural creativity and problem-solving abilities. I get things done quickly. I see patterns and opportunities others don’t. I have a finely-tuned bullsh*t radar. I take risks, and sometimes they pay off. All of these things make me brilliant at my work.
Tell me more about ADHD superpowers in business.
Let’s consider some of the unique traits neurodiverse entrepreneurs often bring to the table:
Hyperfocus: Neurodiverse people often focus intently on tasks that capture their interest. This can be incredibly advantageous in the early stages of a start-up, where passion and focus are crucial.
Empathy: ADHDers are often more sensitive to other people’s needs and experiences. This hyper-empathy allows for a more nuanced understanding of client relationships and team dynamics.
Quick Adaptability: The ability to pivot swiftly in a new direction is often a lifesaver in the ever-changing landscape of entrepreneurship.
What about the challenges?
Risk Management: While risk-taking is essential for entrepreneurship, it can become a double-edged sword if not managed carefully. This is particularly relevant for those of us with ADHD, where impulsive decisions could lead to unnecessary risks.
Mental Health: Struggles with anxiety, depression, or even burnout are frequent companions for neurodiverse people, which need active management and shouldn’t be taken lightly.
Self-Support Strategies for ADHD Entrepreneurs
While there’s no one-size-fits-all solution for navigating entrepreneurship with ADHD, some strategies and preventive measures can make the journey smoother.
Prioritisation Skills: One of the challenges with ADHD is prioritising tasks. Using tools like to-do lists or project management software can help, but try to keep them simple. Identify your ‘big rocks’ – the tasks that must get done – and focus on them first.
Setting Boundaries: With an active mind always buzzing with ideas, knowing when to say no can be difficult. Setting clear boundaries can prevent you from overcommitting and help maintain a healthier work-life balance.
Mindfulness Techniques: Impulsivity and emotional peaks and troughs can be typical for those with ADHD. Practising mindfulness can help improve focus and self-regulation. There are several apps and short courses that can guide you in developing this skill.
Accountability: Share your goals and deadlines with someone you trust or, even better, someone who understands the intricacies of ADHD. Knowing that someone else is aware of your commitments can motivate you.
Body Doubling: This productivity hack involves having someone nearby while working on tedious tasks. Because our brains are interest-based, we can easily forget or put off the less exciting but equally important jobs in business. I use Flown, a virtual co-working space, to help keep me accountable for the bigger tasks I dread. It’s incredible how much more I get done when I feel like others are watching, even when they’re strangers!
Financial Planning: Given that ADHD can be associated with impulsivity, financial planning and budgeting can be more crucial than ever. You might consider consulting with a financial advisor who can offer tailored guidance.
Seek Professional Support: If you find that ADHD-related challenges are severely affecting your business, it may be beneficial to seek the support of professionals, like ADHD coaches or mental health advisors, who can provide personalised coping strategies.
What To Watch Out For
Burnout: The thrill of a new project can be intoxicating, but it’s easy to overextend yourself and end up burnt out. Keep an eye on your workload and take time to recharge.
Over-Promising: The enthusiasm and creativity that come with ADHD can sometimes lead to making commitments that are hard to fulfil. Be mindful of what’s realistically achievable.
Analysis Paralysis: The flip side of impulsivity is getting stuck in endless cycles of overthinking. If you procrastinate because you’re caught up in details, take a step back and refocus on the bigger picture.
Read more:
Unlock the Entrepreneurial Power of ADHD: Strategies and insights for maximising your unique strengths

Herefordshire-based SafeLane Global (SafeLane) counters explosive and hazardous material threats, holding global expertise in the clearance of landmines and explosive remnants of war, including improvised explosive devices. Its work on land and in marine environments creates safer spaces for clients and communities.
Following strategic acquisitions in the UK between 2019 and 2022, SafeLane’s UK operations grew significantly and evolved into a new brand, Igne.  This realignment ensures both Igne and SafeLane Global are best positioned for success in their respective markets.
New CEO Tim Illingworth will take the reins from the 1st November 2023, and brings with him a wealth of experience following an extremely distinguished and relevant career to date, including over 23 years of operating, building and running businesses and living in some of the world’s most remote, complex and hazardous environments.  Most recently, Tim was the Commercial Director of Iqarus, a company that delivers medical care in the same complex environments in which SafeLane’s international business also operates.  Before joining Iqarus, Tim worked within the high-risk arm of global security company GardaWorld, ran a number of companies within the extractive industry in West Africa, and served as an officer in the British Army, where he was awarded the Conspicuous Gallantry Cross in recognition of his services while operating alongside local forces in Afghanistan.
SafeLane’s incumbent CEO Rob Hunter, who has been with the company for over seven years, will ensure a seamless handover before stepping across from the international business to exclusively lead Igne.
Discussing the latest step in the evolution of SafeLane Global, Igne’s CEO Rob Hunter explains: “In recent years, the group businesses have each grown significantly.  We have been working strategically to separate the businesses and allow their individual growth opportunities to be realised, without disrupting any ongoing contracts or business relationships.  We are now ready for SafeLane and Igne to follow their own paths, and that means a full handover to the calibre of leader that Tim embodies.  For me, I am thrilled to be passing the baton with SafeLane in such a robust position and am fully confident in Tim’s skills to continue steering the company on its success trajectory.  Together with the outstanding team we have built, I am invigorated by Igne’s opportunities to become the service provider of choice for Britain’s construction and infrastructure sectors.”
Tim Illingworth, newly appointed CEO of SafeLane Global’s international business, added:  “In spite of significant progress over the past two decades with the removal of explosive remnants of war, landmines and cluster munitions, the world is continuing to see instability and conflict in areas where the communities and governments are least well equipped to cope with the lasting effects of the use of explosive weaponry.  SafeLane Global is among the most respected names in the field of explosive threat mitigation, working alongside governments, NGOs, companies and communities in these environments and I couldn’t be happier to be joining such a capable and experienced team at what is an important point in the company’s history.  With current projects ongoing in countries such as Yemen and Somalia and a real requirement for SafeLane Global’s services in Ukraine and across the Middle East, this is an unrivalled opportunity for me to help shape the future success of the business while working with what is already an exceptional team.”
Read more:
SafeLane Global Welcomes New CEO 

Bankers can earn unlimited bonuses again from today, following a change to rules brought in following the financial crisis prompting a warning from the TUC that removing the cap will bring back a “greed is good” culture.
Before 2008 City high-flyers hit the headlines for spending their bonuses on fast cars and champagne-fuelled nights.
But UK Finance, the body representing the sector, says scrapping the cap will make it easier to attract the best professionals from around the world.
Ruksana Uddin, from City recruitment firm Robert Half, said she expects banks to start the process of bringing back bigger bonuses over the next few months.
“It will probably be at least a year before things start filtering through,” she said. “Bankers going out, spending their money and doing those lavish things – we probably will not see that until 2025.”
The cap was brought in across the European Union in 2014, limiting bonuses to a maximum of two times a banker’s basic salary.
The aim was to make the financial system more stable by reducing the incentive for bankers to take excessive risks.
But regulators and banks said it had not had the intended effect because firms simply switched to paying higher basic salaries to compensate for lower bonuses. Higher basic salaries are harder to reduce during a downturn, or take back if performance has been poor.
Ms Uddin thinks banks will ask their existing staff to switch back to the old system of a lower basic salary plus bonus.
There may be “some pushback” if current staff are reluctant to lose the security of the higher basic salary, she said.
But higher bonuses would have a positive impact on the market overall, she said, drawing in more “superbankers” from overseas.
The TUC, the umbrella body for the UK’s trades unions, described the move back to bonuses as “obscene”.
“City financiers are already raking it in,” said TUC general secretary Paul Nowak. “They don’t need another leg-up from the Tories.”
A spokesperson for the Treasury said decisions on remuneration in the banking sector were made not by politicians but by the regulators.
The original decision to scrap the cap on bonuses was announced by former chancellor Kwasi Kwarteng in his September 2022 mini-Budget. His successor Jeremy Hunt subsequently referred the decision to the regulators, the Prudential Regulation Authority and the Financial Conduct Authority.
UK Finance, representing the banking industry, said regulators had identified the bonus cap as one factor “limiting labour mobility” in the financial sector, and its removal would make the UK “more attractive to international professionals”.
However, the optics of allowing bankers to be paid bigger bonuses were not good against the backdrop of the cost-of-living crisis, a UK Finance spokesman conceded. It was not yet clear, though, whether financial institutions would use the opportunity to increase bonuses significantly, he said.
Anne Sammon, a partner at law firm Pinsent Masons, said she thought “superstar” traders would see higher bonuses fairly quickly. But rules requiring a portion of the bonus to be deferred, and making it easier to claw back payments in the event of wrongdoing, meant there may not be quite the same big payday feel to bonus seasons in future, she said.
In terms of the wider workforce, banks were in for a bit of an “employee relations nightmare”, Ms Sammon said.
“People will remember the days before the bonus cap, when people got five, six times their salary,” she said, levels that wouldn’t be returning without a big drop in base salaries, meaning firms would need to engage in some urgent “management expectation”.
Offering different remuneration packages for new staff or staff from overseas could store up potential discrimination cases for the future, she said.
“The issue is likely to hit when we have bad years and the bonuses are down. It might not be an immediate issue, if we have a really good bonus year. But the next financial crash – people are likely to start arguing what is fair and what is not.”
Read more:
TUC warns that removing bankers bonus cap will bring back “greed is good” culture