Month: April 2024

Ofgem, the energy regulator, has unveiled plans for explicit rules governing the use of artificial intelligence (AI) within the energy industry, amid growing apprehensions about the risk of tacit collusion among companies. The regulator intends to publish a formal framework during the summer to address these concerns.
While acknowledging the potential benefits of AI in enhancing the management and operation of the energy system, Ofgem warns that algorithms pose a risk of facilitating tacit collusion, enabling companies to conspire without formal agreements or direct human interaction.
Although Ofgem believes its existing powers are adequate to oversee the current use of AI by suppliers and generators, the proliferation of automated decision-making processes presents new challenges. Algorithms responsible for pricing decisions could obscure accountability, ownership, and competition in various energy markets, including retail, wholesale, generation, and infrastructure.
The application of machine learning extends to various functions within the energy sector, such as renewable energy generation forecasting. However, concerns persist about ensuring fairness and preventing discriminatory outcomes, prompting Ofgem to develop regulatory principles aligned with government directives.
Ofgem advocates for a risk-based approach to regulating AI, prioritizing transparency and accountability. Systems featuring autonomous, complex, and adaptive AI are deemed higher risk, particularly in critical functions like balancing supply and demand on the electricity grid.
The government has allocated significant funding to support regulators and advance AI research. However, a fraction of this budget will be dedicated to enhancing regulators’ capacity to address AI-related challenges in their respective industries.
Akshay Kaul, Director-General for Infrastructure at Ofgem, emphasizes the pivotal role of AI in building a smart, digital energy system conducive to achieving net-zero emissions. However, he underscores the importance of establishing a clear regulatory framework to safeguard consumer interests and maximize the benefits of AI applications in the energy sector.
As Ofgem strives to navigate the complexities of AI integration in energy, ensuring consumer protection and fostering innovation remain paramount. Business Matters examines the implications of Ofgem’s proposed regulations and their impact on the evolving energy landscape.
Read more:
Ofgem Raises Concerns Over ‘AI Collusion’ in Energy Market

Business process outsourcing has skyrocketed since covid, with 48% of companies now outsourcing their work.
Whilst saving time and resources, outsourcing your marketing is an effective way to pool real expertise, gain access to advanced marketing tools, minimise overhead and improve return on investment (ROI). With outsourcing, businesses can focus on core activity and provide services they could not before, far faster and more cost-effectively.
A recent survey conducted by Deloitte demonstrated that 65% of businesses said outsourcing helps them to prioritise key business functions whilst 63% mentioned that cost-cutting is a major benefit of outsourcing.
So, when is it the right time to outsource your marketing?
Successful marketing is about the long game of building credibility, strong relationships and brand profile. Whether producing consistent and engaging content, building user-friendly websites or raising your business’ awareness amongst target audiences, time, consideration and expertise are needed. If you have the time and capabilities yourself, that’s great but consider outsourcing your marketing if:

Your current strategy isn’t producing results.
You lack the right expertise and resources to deliver campaigns.
You are looking to minimise overhead costs.
You simply don’t have the time to keep up with the workload.
Your brand has grown, and you need experts to implement a strategy that will keep the momentum of your business going.

Know Your Objectives
What are you looking to achieve? Are you looking to be at the top of google search? Is there a particular product you’d like to see more sales of? Or are you looking to build your reputation and raise awareness of your business or a particular service?
There is an assortment of marketing agencies out there. Some offer a 360, all-inclusive marketing approach whereas others are skill-specific and specialise in a marketing sector such as social media, advertising, copy writing, public relations, etc. Similarly, agencies may also be sector specific and offer core expertise in the likes of construction PR or social media for the hospitality sector.
Outlining your business needs and targets in this way is important when choosing an agency to help develop and implement the right strategy for you.
Be Clear on Budget
By knowing your budget and keeping a defined brief of your targets, marketing agencies can then propose how to allocate your investment and provide you with a strategy and tactics that suit. Be realistic with your budget and invest in a long-term strategy as rarely does a ‘short and sweet’ campaign achieve longer term goals.
Whilst you shouldn’t underestimate the cost of a successful campaign, keeping a defined brief will help keep your strategy focused on your core business targets without walking away with an over-ambitious campaign.
Who Will Be Doing the Work?
Your campaign will only be as good as the team delivering it. So, even though your agency may have worked with big-named clients, don’t just buy on agency reputation. Make sure your account manager is involved in the pitching process so you can better evaluate their experience and expertise. Don’t be afraid to ask them challenging questions to see whether they know their material or to check their LinkedIn profile to see their industry background.
Client-Agency Chemistry
The first question you should ask when selecting a marketing agency is can you see yourself working with these people?
Ultimately, people buy people and it’s important to make sure their values align with yours. Client-Agency chemistry is vital for ensuring effective communication and a well-executed marketing strategy.
When running a Request for Proposal (RFP) meeting, check whether the team are engaging with you rather than just pitching to you. This is also your time to prepare questions that will test the team’s relationship. How much do they know about your industry? Why have they chosen a particular approach? How well have they planned and considered the meeting?
Reviews and References
Once you’ve had an initial meeting with your selected marketing agency, it’s then a good idea to run background checks to substantiate their claims.
Using case studies available on their website is a useful primary tool, but make sure to ask for customer referrals and client testimonials too. Look into your agency’s portfolio and head onto social channels and websites they manage to see how well they are performing. Be sure to look at clients who work in a similar industry to yours. If their results are similar to your targets, then chances are, you are good to go.
Read more:
Top Tips for Selecting a Marketing Agency

Almost six in ten of businesses prefer to buy UK-manufactured products over alternatives imported from other countries as ‘buy British’ sentiment rises 20% at businesses across the economy, according to nationwide research.
The research from Made in Britain found the two key drivers of economic patriotism among UK companies are “to help the British economy and support British jobs” and environmental reasons the trade association’s fifth annual survey has found.
Additionally, almost half of British companies say they have a procurement target for British-made products – up 20 percent from a year ago. Of those companies that have a procurement target for British-made products, the average target is 48 percent of all goods purchased, the research finds, revealing a huge year-on-year increase of 40 percent.
The trade association Made in Britain unites British manufacturers by their licensed use of the official Made in Britain collective Trademark – which they display on their physical products and packaging, as well as on their marketing materials (both physical and online) to promote their British provenance.
Nearly 80 percent of UK companies today recognise the official Made in Britain Trademark, the research also finds. Of those, nearly two thirds say they are more inclined to buy a product if they have seen the Trademark on it or associated with it, according to the research.
Made in Britain CEO John Pearce: “British businesses across the economy have been shifting their focus towards purchasing more UK-manufactured products because they want to support the domestic economy, while at the same time they are increasingly engaged with improving their sustainability practices and looking at the social value of their procurement policies, our research shows. The Made in Britain Trademark is the most widely understood and visually impactful marketing tool that British manufacturers can use to cater to this demand. Our ever-growing community of manufacturers tell us they proudly display the Trademark for three key reasons – it is the most effective way to communicate what type of company they are; it helps them sell more of what they make; and it bolsters trust and recognition for their brands.”
Read more:
6 in 10 businesses prefer to buy UK-made products, new research finds

As a seasoned professional in the field of recruitment, I’ve had the privilege of witnessing firsthand the transformative impact that gender diversity can have on businesses of all sizes.
From startups to established SMEs, organisations that champion gender diversity consistently emerge as leaders in their respective industries.
In the competitive landscape of recruitment, there has been a significant shift in candidate expectations and preferences. Increasingly, job seekers are drawn to companies that embrace diversity and inclusion, recognising the real value of diverse perspectives and experiences.
Working closely with hiring managers and decision-makers its clear there are tangible benefits of gender diversity within organisations. Diverse teams bring a breadth of perspectives, skills, and ideas to the table, fostering a culture of innovation and creativity that drives business growth.
Whether it’s brainstorming sessions, problem-solving exercises, or strategic planning meetings, I’ve seen firsthand how diverse teams consistently outperform homogenous ones, generating fresh insights and driving results. Inclusive workplaces where individuals feel valued, respected, and empowered regardless of gender are more likely to retain top talent and create a real ‘family’ orientated atmosphere –  a real deep rooted culture.
It goes both ways – women and men need to feel they are supported equally in the workplace and encouraged, and provided with opportunities for development, and this also has a direct impact on the bottom line.
Research has consistently shown that companies with diverse leadership teams and workforces are more innovative, resilient to downturns, and financially successful. By tapping into the full potential of their talent pool, SMEs can gain a competitive edge, attract new customers, and drive business growth.
However, achieving gender diversity requires more than just lip service—it demands a strategic and concerted effort to address those  barriers and biases that may hinder the advancement of women in the workplace.
As a recruitment expert, I’ve worked closely with companies to implement gender-neutral recruitment processes, develop inclusive leadership programs, and foster a culture of flexibility and work-life balance.
Establish a mentoring program that pairs staff of different genders to facilitate knowledge sharing, skill development, and career advancement. Encourage mentors and mentees to exchange perspectives, insights, and experiences to foster mutual learning and growth.
In addition, when forming project teams, strive for gender balance to leverage diverse perspectives and strengths. Or implement reverse mentoring programs where junior employees mentor senior executives on topics such as gender diversity, generational differences, and emerging trends.
To conclude, as SMEs navigate the complexities of recruitment and talent management, it’s essential to recognise the transformative power of gender diversity. By embracing diversity and championing inclusion, SMEs can unlock the full potential of their workforce, drive innovation, and position themselves for long-term success.
Read more:
How and why gender diversity is KEY for business success

With yet another budget having passed by, the economic landscape remains challenging for businesses.
The economy spent most of 2023 teetering on the brink of recession, consumers are still feeling the pinch, and the taxation burden stands at a 70-year high as the UK seeks to pay off the enormous public expenses that were incurred during the Covid pandemic. Factoring in all manner of global supply chain constraints, geopolitical uncertainties and a volatile energy market on top of this, it’s easy to see the heady mix of challenges facing business leaders in 2024 and beyond.
The budget itself didn’t shift the dial in any meaningful way for most enterprises. Corporation tax remains at 25%, with a 19% rate on profits up to £50,000. Meanwhile, the 100% full expensing regime has been extended to include leased assets – a move which will benefit construction and plant hire businesses.
On a more optimistic note, however, the budget announcement did confirm that inflationary pressures are starting to ease. In tandem, many consultants and forecasting bodies are now seeing slithers of light at the end of the tunnel. CBRE, for example, expects inflation to fall to the Bank of England’s 2% target by early 2025 – this will allow for interest rate cuts that support real terms income growth and ease debt burdens on businesses. This will in turn help a stagnating economy to start growing again.
In its Economic Outlook for 2024, CBRE also predicts cuts in interest rates will make for a more attractive commercial real estate market. This, alongside the recovering consumer demand that is expected to come as real estate incomes increase, point to hope for a healthier environment for businesses which own or lease properties.
ESG momentum is building
This doesn’t mean businesses can take their foot off the gas and wait for the good times to return. Alongside a recovering economic picture, compliance requirements around ESG are tightening and carry implications for a huge number of organisations.
For instance, there will soon be a crackdown on businesses and commercial real estate operators which fail to comply with minimum EPC ratings rules. At the moment, the expectation is that all let commercial property will be required to have a minimum EPC rating of band C by 2027, with that shifting to B by as soon as 2030. Given the current minimum is E, this could equate to a lot of work that needs doing in a short space of time.
Government figures point to this conclusion. According to its database on EPC performance, more than a quarter of commercial buildings currently have an EPC rating lower than C, putting them at risk of non-compliance.
Gone are the days when sustainability and energy efficiency were ‘nice to haves’. Organisations need to follow up rhetoric with actions, and that means making their workspaces as environmentally responsible as possible – for many businesses, this is a key part of ESG reporting criteria.
Tangible progress requires a mix of bigger picture and granular thinking. Combined, what may appear like small details such as furniture and waste management, and simple things like encouraging good habits with lighting, water use, workstations and HVAC, can actually make a big difference and build a broader sustainability-driven culture.
Tracking progress and identifying areas for improvement are also critical capabilities. Here, smart building technologies such as building management systems, building information modelling (BIM) and digital twins are providing asset managers with data-driven insights on key sustainability metrics such as water and energy use, and how these are impacted by occupancy trends and behaviours.
Times are changing
The relationship between ESG and corporate real estate is just one of many big trends I have observed during my time working in this space. When I first joined Business Moves Group, offices felt like mini empires. Cubicles were the norm, corner offices were the dream, and layers of smoke filled the room. In fact, the introduction of the smoking ban in some ways signalled a shift in behaviour. Colleagues would instead congregate in groups outside, chat about their day and begin processes of joined up thinking. Informal sub-meetings started to happen outside.
We also started to see a shift towards higher all-round standards of health and safety, as well as the first steps towards sustainable practices through the minimising of paper use. People saw this as an opportunity to improve and bring some vibrancy to their workspaces. Meanwhile, boxed away corner offices started to disappear as leadership became a more visible presence.
The pandemic, of course, served to accelerate all these trends.
Since remote working became the enforced norm, workspaces have been reimagined to fulfil more collaborative applications as the reasons for coming into the workplace shifted. This has led to challenges for some business leaders in relation to occupancy and certainty of building schedules. Workspace use can vary dramatically across a week, which makes it difficult to optimise various building management processes. However, I believe we may start to see a return to a more consistent pattern of people working in offices and other commercial real estate, and many sectors are already bringing back required office days and quotas.
Where businesses decide to locate themselves remains of critical importance, not least when it comes to attracting talent. From technology and finance to marketing and manufacturing, companies operating in industries across the entire breadth of the economy are competing in a ferociously competitive labour market.
Location of premises can be a decisive recruitment factor. While I don’t see huge trend in organisations moving out to urban areas, as such, it is interesting to note the success of innovations hubs such as Cambridge and Reading Green Park, which is now home to iconic brands such as PepsiCo, Bayer, Thales and Virgin Media. Companies appear to gravitate towards other successful enterprises.
As we advance through 2024, the economic and real estate picture for businesses should start to get a little brighter. Those which stay attuned to changing dynamics and trends, including intensified ESG criteria and shifting workplace norms, will be better placed to emerge strongly from the other side
Read more:
What does the budget mean for the ever-evolving world of corporate real estate?

With the latest Gallup report showing the UK as having only 10% of workers as being ‘highly engaged’, it raises the question of just how do we show employees how much they’re appreciated?
We know how important managers are to people’s experiences of work, but Gallup also shares how managers reported as being even less engaged than non-managers in its latest poll. This might seem unsurprising, when 64% of them identified as being burdened with even more responsibilities than the previous year, with 41% who shared they’d experienced budget cuts.
This might explain how according to Mental Health UK, 20% of workers needed to take time off last year caused by ‘pressure and stress’. And with 35% of adults experiencing extreme levels of this, it’s understandable that employees might be cynical about employee appreciation initiatives.
So, what can businesses and organisations do to turn the tide to genuinely show employees how much they matter?
Appreciating the appreciators
It’s hard to appreciate others when you’re suffering from overload, stress, or burnout. When managers themselves are more disengaged than non-managers, we need to consider how we offer support and help them adapt to the changing demands of work.
Every year, organisations tend to reduce costs but increase targets. Rarely are managers suitably equipped to enable them to adapt to these challenges, which can result in many of them trying to protect their teams from the additional work caused by the cuts or taking on the additional work themselves. This might even result in work being taken home, impacting upon their personal lives.
With managers being so crucial to the experience of employees, they are often overlooked when considering employee appreciation initiatives. Whilst the workload and demands can change, we can be creatures of habit in the way we continue to get work done. Supporting managers on how they can adapt their work, providing time to work out new ways of doing things can help, and by doing so will allow them to be more receptive to appreciating their colleagues around them. And when managers have the scope to appreciate others, we need to consider what more we can do.
Being heard
Employees can often be left questioning whether the senior leaders in the organisation know what’s really going on, specifically with regards to the stress and workloads people are under. Annual engagement surveys can be the cause of further irritation, as often seen as a sterile way to learn about how people are feeling, with a lack of understanding, as employees are limited to only being able to answer the specific questions being asked.
There are several better ways to show employees your appreciation, by taking time out to listen to them – face to face and engaging with them on a personal level with no hidden agenda. For this to happen effectively, it’s important to create an environment of psychological safety, allowing employees to feel comfortable in sharing how they feel and to share their experiences of work.
A natural reaction can be one of defensiveness when hearing how people might be suffering, which can lead to trying to solve this for them, but it’s important to allow them to be heard without judgment. The fact that they are willing to tell you how they feel, means they are passionate to make work better for all.
Personal development
Time is our most valuable commodity in work, and to take time out for meaningful conversations with employees can really help to show how much they are appreciated. It can be hard to understand how people are feeling and how well their needs are being met during their time at work. Holding reviews forces both managers and employees to step away from the running wheel and focus on a thoughtful and reflective discussion.
Personal growth is a key example of showing how much we appreciate employees. Work can often focus heavily on how employees are adding value to the organisation, but it’s just as important for employers to show how much value ‘they’ are adding to their employees.
Understanding the career and development aspirations of individuals, will allow managers to put together plans to develop people to be their very best. It’s hard for individuals to see their own potential, and these moments of reflection can help them see their value, through the eyes of their managers.
Feeling valued
It has been a long-standing view that employees are focused on intrinsic motivation, yet the stagnant growth across the UK, combined with high inflation and lower living standards, means financial rewards are now more important. If we want to show employees how much we appreciate them, it requires us to consider whether what they are paid does this. It’s important to differentiate recognition from appreciation at this point. Recognition often refers to the rewards that are given following the achievement of reaching a target with focus being on recognising a persons’ achievements.
Appreciation on the other hand is focused on appreciating the individual for who they are and the efforts they make, rather than purely on what they achieve. To show how much we appreciate employees, especially when so many are struggling to make ends meet, we need to review the total pay packages we provide.
It’s not just on paying more in salary. Having good pension contributions, providing private healthcare plans, or offering wellbeing payments can help employees better deal with the challenges of life.
A total package might also include flexible working, remote working or offering compressed hours – by really considering what employees would find most valuable.
In summary, it’s easy to focus on wellbeing initiatives – some might even say, that’s quite lazy. To appreciate people – for who they are and the efforts they make to support the workplace, means we should consider meaningful ways to truly demonstrate this. Managers are key, and it’s important we make time to look after them, who in turn, can be better supported to look after employees.
Read more:
How to show real appreciation in the workplace

In a world of struggling supply chains and unexpected economic circumstances – ensuring cash flow and profitability is a top priority for many businesses.
But shockingly, over half of businesses are still relying on manual checks for their B2B payments – meaning they don’t have a clear view on what their teams are spending and expensing. This is set to change, however as digitisation is increasingly re-shaping the way businesses keep track of their money.
One product of digitisation which has rapidly grown in popularity among corporate organisations is virtual cards.
In the following article we’ll explores 5 ways in which virtual cards could help businesses unlock their full potential.
Increased time and cost savings
Managing business payments requires meticulous tracking of invoices, follow-ups, and reconciliation, which can be time-consuming and prone to errors. Virtual card payments, on the other hand, offer automated systems that integrate seamlessly with accounting software, simplifying financial management and saving your finance and accounting teams valuable time and money.
Fortified security and fraud protection
The financial impact of fraud can be devastating to businesses, potentially leading to significant financial losses, disruption of operations, and damage to reputation. Lacking the magnetic strip and visible numbers of physical cards, virtual cards are much harder to infiltrate by unauthorised persons, offering businesses crucial protection against fraudulent activity.
Virtual card providers often also offer online management platforms where cards can be cancelled or paused instantly if suspicious activity occurs or a card is suspected as lost.  Many of these platforms also allow the cards to be un-paused or replaced from the same place. By relying on virtual cards for payments, businesses can make more secure payments and better protect their finances from the impact of fraud.
Greater visibility over spending
Constantly generating a stream of real-time data and reports, virtual cards allow you to know exactly what your teams and departments are spending and where. What’s more, virtual cards can be issued instantly, allowing employees to start spending immediately, with all expenses tracked within the same centralised platform.
By having greater visibility over your business transactions and cashflow you can work on cutting unnecessary expenditure, better budget and forecast, and in turn, focus on profitability and growth.
Empowered employees
Virtual cards can be used in a variety of ways: shared amongst members of a company for things like online subscriptions and software; created for a single use that becomes void after the purchase it was created for; or for individual transactions such as in-person purchases, attached to a specific balance. This provides clear purposes and limits for the cards, empowering employees to take payments into their own hands while making them feel engaged and valued.
Employees can request funds when they’re low or checking their PIN if they’ve forgotten it. Financial controllers can then respond to top-up requests, pause and block cards, and monitor budgets.
Improved vendor relationships
Maintaining good relations with suppliers and vendors is key to keeping a supply chain running smoothly. Through utilising virtual card payments, businesses can by-pass the issues and errors associated with manual payment and in turn improve key relationships through faster and more accurate transactions.
Virtual card payments also allow businesses to seamlessly handle both large, recurring payments in addition to one-off smaller needs allowing the versatility and flexibility needed to adapt and grow.
Read more:
Unlocking business success with virtual card payments

London Underground drivers, represented by the Aslef union, are set to stage two 24-hour strikes, exacerbating commuter woes across the capital.
Here’s what you need to know about the upcoming walkouts:
When will the strikes take place?
Aslef members will embark on industrial action on the following dates:
– Monday, April 8
– Saturday, May 4
These strikes come after an overwhelming 98% of Aslef drivers voted in favour of the walkouts, citing concerns over changes to terms and conditions.
Which lines will be affected?
The strikes are expected to disrupt services across most of the London Underground network, with drivers participating in industrial action. However, the Elizabeth Line will continue operating as usual, as its drivers are represented by the TSSA union. London Overground and the Docklands Light Railway are also anticipated to run normally, albeit with potentially heightened congestion due to disrupted Tube services.
Why is Aslef going on strike?
Finn Brennan, Aslef’s Tube organiser, criticised Transport for London (TfL) for allegedly failing to provide assurances against imposing changes to terms and conditions without agreement. Brennan highlighted concerns regarding proposed longer shifts for drivers, increased time spent in the cab, and the removal of existing working agreements in the name of flexibility and efficiency.
What has Transport for London said?
In response to the strike announcement, Transport for London called for dialogue with union leaders to avert the industrial action. TfL asserted its commitment to modernising procedures while ensuring the safety and well-being of both staff and customers. The spokesperson emphasised that no changes would be imposed unilaterally and reiterated the organisation’s dedication to maintaining safety standards on the Tube network.
As the strike dates approach, commuters are advised to plan alternative routes and modes of transport to mitigate disruptions.
Read more:
Next Tube Strikes: Dates and Affected Lines Revealed

The Conservative Party is eyeing significant strides towards abolishing National Insurance over the next parliamentary term if they secure re-election, according to Treasury minister Gareth Davies.
Davies, speaking to The Telegraph, expressed confidence in the government’s ability to make “significant” progress in eliminating the levy on work, though he refrained from specifying a timeframe, hinting that this move could materialize in the subsequent Parliament if the Tories retain power.
Davies took aim at Labour’s proposals to bolster workers’ rights, cautioning against measures that might restrict the flexibility offered by zero-hour contracts and suggesting potential rises in unemployment. The debate over workers’ rights is poised to become a pivotal issue in the upcoming general election, with both major parties constrained by tight public finances from making immediate costly commitments.
While Labour has criticised the Conservatives’ plan to abolish National Insurance, estimating an annual cost of £46bn, Davies remained adamant about its feasibility, citing recent cuts in the levy. Chancellor Jeremy Hunt had previously expressed ambition in abandoning the tax, albeit acknowledging the likelihood of compensatory increases in income tax.
Despite these intentions, the government’s prospects for re-election appear uncertain, with recent polls indicating dwindling support. Reform Party, on the other hand, is gaining momentum, potentially posing a significant challenge to the Conservatives’ dominance.
Davies stressed that progress towards scrapping National Insurance would be contingent upon favourable fiscal conditions and stability, ruling out resorting to borrowing. However, he acknowledged the long-term nature of this ambition and defended the use of zero-hour contracts as providing flexibility to both employees and businesses.
Labour’s proposals to end zero-hour contracts and enhance worker protections have drawn criticism from Davies, who attributed past increases in unemployment to similar policies. Nevertheless, the debate over the future of National Insurance and workers’ rights is set to dominate the political landscape as the general election approaches.
Read more:
Tories Hint at National Insurance Abolition in Next Parliament