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More than a third of UK entrepreneurs are concerned about the financial impact of Donald Trump’s proposed trade tariffs, according to a new survey by entrepreneur network Helm.
The poll, conducted between 10 and 11 February among Helm’s 400 members—who collectively generate £8 billion in revenue—found that 37% of respondents fear the tariffs could add “significant costs” to their operations.
The US is the UK’s second-largest export market, accounting for 22% of total UK exports, making it a crucial trade partner for British businesses.
However, since the proposed tariffs mainly target goods rather than services, the majority of Helm members (63%) remain unconcerned. Many believe Trump’s trade threats are primarily a negotiating tactic, while others are unaffected as they either do not trade in the US or primarily export services, which are currently exempt.
Helm’s CEO, Andreas Adamides, noted that British entrepreneurs are sharply divided on the issue. He said: “While some fear rising costs and supply chain disruptions, others see potential opportunities as trade routes shift,” he said. “The resilience and adaptability of UK entrepreneurs will be crucial in navigating these uncertainties.”
Syd Nadim, founder of digital solutions firm Clock, which derives 40% of its revenue from the US, dismissed Trump’s rhetoric as “mostly bluff and bluster.”
“Canada and Mexico have learned to manage these threats. Since services are excluded from the tariffs, we’re confident they won’t affect us directly, though the broader economic impact is still a concern,” he said.
Meanwhile, Maz Darvish, CEO of AI firm Cognition Hub, pointed out that removing the de minimis threshold—which currently allows imports below $800 to enter the US duty-free—could level the playing field for American SMEs.
“If the UK and EU followed suit, it could boost local e-commerce and protect consumers from unsafe imports,” he said.
However, some entrepreneurs remain deeply concerned about rising costs and supply chain challenges.
Harry Zalk, co-CEO of infrastructure firm Matrix Group, warned that tariffs would “significantly increase costs for our imports and exports,” while the potential removal of the no-duty threshold would further strain e-commerce businesses.
For Tobi Schneidler, founder of computer accessories brand Bouncepad, the potential impact is clear.
“The United States is a major market for us. Tariffs would add to the challenges of Brexit, making US exports even tougher for us,” he said.
As Trump’s trade policies remain in flux, UK entrepreneurs will be watching closely to assess the potential impact on their businesses. Whether the proposed tariffs become a reality or remain a political bargaining tool, British exporters will need to remain agile in an increasingly uncertain trade environment.
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Third of UK entrepreneurs fear Trump’s proposed tariffs will hit business costs

A former DeepMind scientist who helped develop AlphaFold, the AI model that revolutionised protein structure prediction, has raised $50 million to launch Latent Labs, a startup focused on using artificial intelligence to design new proteins.
Simon Kohl, a German-born physicist and machine learning expert, founded Latent Labs in 2023 with the ambition of “achieving computational mastery over biology.” The company aims to partner with biotech firms to accelerate drug development by replacing traditional experimental methods with AI-driven protein design.
The funding round, completed in December, was led by Radical Ventures, an AI-focused investment fund, alongside Sofinnova Partners, known for its life-sciences investments. High-profile backers include: Jeff Dean – Google’s chief scientist, Aidan Gomez – co-founder of generative AI firm Cohere and Mati Staniszewski – co-founder of AI audio startup ElevenLabs.
With an earlier $10 million in start-up capital, Latent Labs has now secured a total of $50 million to scale its operations.
Kohl, 34, previously worked at DeepMind, where he played a key role in the second iteration of AlphaFold—technology that has been recognised with a Nobel Prize in Chemistry. While AlphaFold enables scientists to map existing protein structures, Kohl believes the next step is to design new proteins from scratch using generative AI.
“[AlphaFold] allows you to look at the catalogue of existing natural proteins, but it doesn’t allow you to make new ones,” said Kohl.
His goal with Latent Labs is to develop AI models that eliminate the need for traditional laboratory techniques, making drug discovery faster and more precise.
Latent Labs is assembling a team of top AI and biotech researchers across London and San Francisco, including four former DeepMind scientists. The company is actively hiring more specialists as it expands.
By applying generative AI to protein and molecular design, Kohl believes Latent Labs can reduce failures in clinical trials, a key challenge in the pharmaceutical industry.
“There are still lots of failures in clinical trials, and in some ways, you can trace the issue back to how the drug was originally discovered,” he explained.
“If you can design proteins and molecules with a higher degree of control and precision, the idea is that in the future, we will see fewer failures.”
Kohl acknowledged concerns over the ethical implications of AI-generated proteins, calling it “an important question” that requires broader discussion. However, he stressed that current AI technology is not yet advanced enough to surpass what human experts can achieve in a well-equipped lab.
As for when Latent Labs’ AI will outperform traditional methods, Kohl admitted it was difficult to predict.
“Our north star is that our AI systems will eventually be so advanced that they no longer require experimental lab validation,” he said. “At that point, you will have quite powerful technology on your hands.”
Latent Labs is entering a competitive but still emerging field where multiple startups are exploring how AI can reshape drug development. Kohl compared the landscape to a space race.
“It feels like quite a number of rockets are being launched right now, and they may all reach orbit,” he said.
While Latent Labs has not disclosed its current projects or clients, the startup’s rapid funding and high-profile backing suggest it is poised to be a key player in the future of AI-driven drug discovery and protein engineering.
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Deepmind scientist raises $50m to use AI in protein design revolution

Concerns are mounting that UK businesses could face steeper trade taxes after former US president Donald Trump announced plans to introduce “reciprocal tariffs” that factor in VAT.
Trump has instructed his team to develop a system where tariffs on imports match levies imposed on US goods, potentially affecting trade with the UK. While Britain was previously considered less exposed to tariffs than other nations, the inclusion of VAT in tariff calculations has raised fresh concerns about its impact on British exports.
Analysts suggest that tariffs of 20% or more could be applied to the UK, alongside the European Union. The British Chambers of Commerce (BCC) has warned that key industries—including automotive, pharmaceuticals, and food and drink—could be “significantly hit” by these new measures, announced by the White House on Thursday.
The Trump administration’s latest move broadens the scope of US trade retaliation, targeting not just traditional tariffs but also “unfair or harmful acts, policies, or practices.”
One of Trump’s primary justifications for imposing tariffs has been trade imbalances, where countries sell more to the US than they import. However, both the UK and US claim to have trade surpluses with each other due to differences in data collection methods. The introduction of VAT into the tariff equation adds further uncertainty over how British businesses might be affected.
Trump’s statement described VAT as an “unfair, discriminatory or extraterritorial tax.” The UK’s VAT system applies a standard 20% tax on most goods and services, regardless of whether they are imported or domestically produced.
George Saravelos, global head of FX research at Deutsche Bank, warned that if US tariffs were calculated based on VAT and existing tariffs combined, UK businesses exporting to the US could face duties of 21%.
“If reciprocal tariffs are applied on a VAT basis, European countries would be much higher on the list of impacted nations,” Saravelos said.
William Bain, head of trade policy at the BCC, noted that while the UK had some “insulation” due to exporting fewer goods to the US compared to other nations, the proposed changes would still “create more cost and uncertainty” and “upend established trade norms.”
Paul Ashworth, chief UK economist at Capital Economics, argued that most experts see VAT as a non-discriminatory tax, as it applies equally to domestic and imported goods. However, one of Trump’s advisers has suggested that VAT disadvantages US businesses, as America applies much lower sales taxes at the state level.
Ashworth noted that Trump now appears to favour a country-specific tariff approach, rather than imposing a blanket tax on all US imports.
The potential impact of these proposed tariffs remains uncertain, with legal experts warning that the term “reciprocal” may not mean what many assume.
Caroline Ramsay, partner and head of international trade at law firm TLT, explained: “It does not mean that the USA is going to check what the UK tariff is on paper imports and match that tariff percentage for paper exports to the US from the UK.”
Instead, the US is likely to determine tariffs based on its own interpretation of what constitutes a fair trade policy.
Bain stressed that it is “vital” for the UK government to engage in negotiations with Trump and avoid being “sucked into a trade war of tit-for-tat tariffs.”
Meanwhile, senior UK government minister Pat McFadden urged caution, stating: “The most sensible thing to do with all of these announcements is to digest them, see if they actually come to pass, and then decide what you do.”
As uncertainty looms over the future of UK-US trade relations, businesses across multiple sectors now face the prospect of increased costs and potential disruptions to transatlantic commerce.
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Trump’s tariff threat: UK businesses could face higher trade taxes

TikTok is once again available for download in the US, after former president Donald Trump granted a 75-day extension on enforcing a law that would ban the app unless its Chinese owner, ByteDance, sells its US operations.
The popular video-sharing platform, which has more than 170 million American users, briefly disappeared from Apple and Google’s US app stores last month as the original ban deadline loomed. However, following Trump’s executive order postponing enforcement until 5 April, the app was reinstated after assurances were given that Apple and Google would not face liability for allowing downloads.
The legislation banning TikTok was originally signed into law by former president Joe Biden, with bipartisan support in Congress. The US government had argued that the platform could be used by Beijing for espionage and political manipulation—claims that both TikTok and the Chinese government have repeatedly denied.
Despite his earlier stance in favour of banning TikTok, Trump appeared to shift his position last year during the presidential race. He expressed a “warm spot” for the app, highlighting the billions of views his campaign videos attracted on the platform. When TikTok resumed operations in the US, users received a pop-up message thanking Trump by name.
TikTok’s chief executive, Shou Chew, reportedly met with Trump at Mar-a-Lago after his electoral victory in November and later attended his inauguration.
Trump has floated the idea of a joint ownership model, suggesting that a buyer could take over TikTok and “give half to the US” in exchange for a permit to operate.
Among the potential buyers linked to a takeover are Oracle co-founder Larry Ellison and billionaire Elon Musk, who also leads Trump’s Department of Government Efficiency. Other names in the mix include billionaire Frank McCourt, Canadian investor and Shark Tank star Kevin O’Leary, and YouTube’s biggest creator, Jimmy Donaldson—better known as MrBeast—who has claimed that investors approached him after he expressed interest in acquiring the app.
With the ban deadline now pushed to early April, the coming weeks could determine TikTok’s future in the US. Whether a sale materialises or a compromise is reached remains uncertain, but for now, American users can continue scrolling, creating, and engaging on the platform.
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TikTok returns to US app stores as Trump delays ban enforcement

The government has issued new guidance instructing public sector buyers to make it easier for small businesses to win a larger share of the £400 billion spent annually on goods and services.
The national procurement policy, which comes into effect on 24 February, encourages 20,000 public agencies to simplify tendering processes for small and medium-sized enterprises (SMEs), as well as voluntary, community, and social enterprises. The move is designed to reduce bureaucracy, drive social change, and help small businesses compete for government contracts.
The Cabinet Office has told buyers to “maximise procurement spend” with SMEs without compromising value for money or quality, as part of broader efforts to boost economic growth.
With SMEs already receiving around 20 per cent of public procurement spending, the reforms could unlock billions of pounds in contracts for smaller firms. The 2023 Procurement Act, set to take effect at the end of the month, will introduce greater transparency, potentially saving over £4 billion a year, according to the National Audit Office.
“Businesses tell me that the current system isn’t working. It is slow, complicated, and too often means small businesses in this country are shut out of public sector contracts. These measures will change that.”
The new rules also require government departments to conduct spot checks to ensure large suppliers are paying subcontractors within 30 days.
A “public interest” test is also being introduced, determining whether government departments and local authorities should outsource contracts or deliver services in-house to improve efficiency and value for money.
The Cabinet Office is also exploring ways to allow local councils to prioritise SMEs in their communities over national suppliers, even when larger firms offer lower prices.
Emma Jones, chief executive of Enterprise Nation, welcomed the changes, saying: “By setting new standards in creating social value and reinforcing 30-day payment terms, this new approach could see many more opportunities opening up for the UK’s small business community to grow.”
Increasing SME contracts to 40% by 2030
A Goldman Sachs report this week urged the government to increase the share of procurement contracts awarded to SMEs to 40 per cent by 2030. The Institute for Government has estimated that SME public sector spending remained at around 20 per cent between 2018 and 2023, highlighting significant room for improvement.
Jones believes that reserving contracts for small businesses will provide a major boost to local economies, ensuring that public sector spending supports innovation, sustainability, and job creation in communities across the UK.
With the government looking to drive growth and support smaller firms, businesses will be watching closely to see if these reforms translate into real opportunities.
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Government urges public sector buyers to award more contracts to small businesses

These days, the most successful businesses are not only capable of acquiring new customers but also retaining their existing customers so they don’t spend their money elsewhere.
Business owners and operators use a range of effective digital marketing and customer retention strategies, such as promotional offers, deals, loyalty rewards, bonuses, omnichannel marketing, and gamification, to name a few.
With that said, let’s now dive straight in and take a closer look at several of these proven digital marketing techniques that actually work in 2025. They help encourage repeat business, which boosts revenue and helps them stay one step ahead of their rivals.
Which key omnichannel marketing customer retention strategies actually work to retain existing customers?
One way businesses retain existing customers is to build a community or at least foster a sense of community to strengthen the relationship between the customer and the brand and improve relationships.
A powerful strategy for encouraging repeat business is to create rewards for loyal customers and pay them back for their loyalty and for completing onsite challenges and leaderboards either on the main website or via their social media channels.
Some customer retention strategies will be far more effective than others, depending on the type of business, and the ones that have proven a more powerful customer retention tool than others are the following:

Loyalty rewards programs
Personalised experiences and tailored offers
Building a customer community
Leverage social media platforms
Offer a range of unique/exclusive products and services
Provide top-notch, 24-hour support, and have friendly and professionally trained agents who always demonstrate excellent customer service standards
Communicate with customers, provide feedback mechanisms for them, gather their feedback and use it to improve your services
Send personalised emails and release/publish frequent newsletters with the latest promotional offers
Run frequent promotions and prize-packed offers
Diversify your product/service offerings
Devise a well-thought-out customer retention plan
Consider partnering with relevant social media influencers
Maximise SEO (search engine optimisation) strategies
Have fair policies and easy-to-read/understand terms and conditions – never trick your customers with misleading Ts and Cs

What can business owners learn from the iGaming sector?
Customer retention strategies can also be learned from the iGaming sector, which is part of the digital entertainment industry.
Today’s most trusted iGaming operators, for example, typically offer a range of lucrative promotional offers, which keep players coming back for more and stops them from playing elsewhere. For example, the no deposit bonus is one of the most prized offers that players love.
Operators also tend to award frequent cashback bonuses, matching deposit bonuses, free sports bets, free spins for selected online slot machines, and many other loyalty rewards.
Examples include 2X, 3X, 4X, and 5X points days (where you can get extra loyalty points just for playing your favourite games), paid online slot machine tournaments, leaderboard challenges, other network-wide promotions, such as Pragmatic Play’s iconic Drops & Wins promo, and various other gamification strategies.
What is gamification, and why is it important in customer retention?
Gamification is a marketing strategy used by operators in many industries as a way of encouraging their customers to engage with their products and services more. Operators use a range of fun, free, engaging, and immersive ‘gaming’ activities to reward loyal registered members and boost revenue.
Gamification makes their websites far more enjoyable to visit, and it includes a range of prizes and offers designed to reward people for their active participation and loyalty. The aim is to retain as many customers as possible and stop them from going elsewhere to spend money on the same products and services.
To enhance the customer/user/player experience, operators also use various other gamification tools and strategies such as daily, weekly, and monthly prize draw raffles (either onsite or via their social media channels), and they encourage players to complete challenges to receive a range of free rewards – no strings attached.
The more challenges they complete, the more they will be rewarded. Additionally, many business owners operating in the same industry mentioned above also run what is referred to as the daily log-in bonus.
All people have to do is log in to their account and take part in a fun game to potentially win a guaranteed prize, which could be free spins for their favourite titles, free scratchies (online scratchcards), prize draw tick entries, or even a small cash drop (worth anywhere from $/€/£0.10 to $/€/£20.00).
The size of the cash prize and the amount of free spins or free scratchies a player can receive often depends on how much money they typically spend on the website and how often they log in to play. The more loyal a player is, the more loyalty rewards they will receive.
Final thoughts
One of the other fun and immersive customer retention marketing strategies these same trusted operators use today is live-streamed events, such as live quizzes. When people play their favourite titles during a specific time of the day, they can win a range of prizes and interact with the TV hosts and other active players in real time using the live chat messaging feature.
Companies these days have also been known to place ads within today’s most famous titles, provide free demos and early access to upcoming releases, and essentially try to offer far more immersive and tailored experiences than their competitors.
Other key digital marketing strategies include interstitial ads, user-generated content (UGC), block banners, referrals, user acquisition campaigns, and playable advert videos, to name a few, all in the name of customer acquisition and retention.
People would rather revisit a website that always rewards them with freebies than one that doesn’t offer anything for their loyalty, which is why you see so many customer retention strategies being used by operators today.
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From Deals to Omnichannel Marketing: Customer Retention Strategies that Actually Work in 2025

Plans to demolish the Beehive Centre in Cambridge and replace it with offices, labs, and community spaces have been recommended for refusal by Cambridge City Council.
The council’s planning officer cited concerns that the proposed redevelopment near Coldham’s Lane would significantly reduce daylight and sunlight for neighbouring residents, potentially impacting their quality of life.
Railpen, the pension fund manager that owns the site, had envisioned the project as a “workplace and innovation cluster” that would create a new hub for the local community. It estimated that the redevelopment would generate 3,000 jobs, including entry-level positions and training opportunities.
A Railpen spokesperson emphasised that the refusal was based on a “single technical matter,” adding: “The council’s planning officer has acknowledged the significant economic, social, and environmental benefits of the project.”
The Beehive Centre is currently home to 17 retail units, including a large Asda supermarket, Everlast gym, B&M Home Store, and TK Maxx. The surrounding Abbey Ward is one of Cambridge’s most deprived areas, and many residents rely on the shopping centre for everyday essentials.
Under Railpen’s plans, existing shops, cafes, and leisure facilities would be replaced by workspaces and a local centre with new retail and dining options. The company has suggested relocating some “valued retailers,” including Asda, to the nearby Cambridge Retail Park, which it also owns.
However, local residents have raised concerns about the impact on accessibility. Denise, an Abbey Ward resident, said: “It will impact the people who don’t have cars and can walk to the supermarkets here. People would have to take the car out to turn around and go further afield.”
Other locals expressed mixed views. Richard Darler, who lives nearby, said: “For residents, it’s probably better as it’s going to be quieter at the weekends,” but questioned the need for more office and lab space. “We’ve got enough here in Cambridge – if not, we should build on the outskirts,” he added.
Green Party councillor Elliot Tong, who represents Abbey Ward, acknowledged that the Beehive Centre needed improvement but raised concerns about the development’s impact on the community. “Abbey needs this sort of investment, and I’m really excited about money being put into it,” he said. “The question is – are the community being taken into account?”
Cambridge City Council’s planning committee is set to make a final decision on the proposal on Wednesday.
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Plans to redevelop Cambridge shopping centre face rejection over daylight concerns

A majority of high-net-worth individuals (HNWIs) who backed Labour in the last election now regret their decision, as confidence in the UK economy nosedives, according to a new survey.
The poll, conducted by wealth manager Saltus, found that two-thirds of affluent voters who supported Sir Keir Starmer’s party in July now wish they had not. Key policies denting confidence include changes to inheritance tax, the introduction of 20% VAT on private school fees, and an increase in employers’ National Insurance contributions, which has raised staffing costs for business owners.
The survey of 2,000 individuals with at least £250,000 in investable assets found that confidence in the UK economy among this group has fallen sharply from 84% in August – a month after Labour’s victory – to just 48% today, marking a record low.
Mike Stimpson, a partner at Saltus, described the shift as a “missed opportunity” for Labour. He said: “Confidence is a critical component in growth, and the fact that this vitally important group – the wealth creators, employers, and investors in the businesses of tomorrow – feel that the UK economy is not on the right track is a cause for concern.”
Labour worked hard to court wealthy donors during the election campaign, pledging not to raise key taxes while positioning itself as “the party of wealth creation.” This strategy paid off, attracting significant financial support, including a £4.5m donation from Gary Lubner, former chief executive of Autoglass’s parent company.
More than a third of the UK’s HNWIs ultimately voted Labour, but analysts now describe this as a “protest vote” against the Conservatives, whose reputation among the wealthy was severely damaged by Liz Truss’s mini-Budget.
Since taking office, Chancellor Rachel Reeves has introduced tax increases that have further shaken confidence among wealthy individuals. The October Budget raised taxes by a record amount, with fears that more hikes are on the way. Over 80% of those surveyed expect the government to raise capital gains tax, income tax, and inheritance tax within the next year.
As a result, one in ten HNWIs is considering leaving the UK permanently. According to the Adam Smith Institute, Britain lost 10,800 millionaires to overseas relocation in 2024 – more than double the number in 2023.
Among the high-profile departures is Charlie Mullins, founder of Pimlico Plumbers, who moved to Spain “as soon as Labour won the election.” The exodus of wealth has already forced a policy shift, with the government backtracking on proposed tightening of the non-dom tax regime. Reeves recently announced measures to make it easier for non-doms to bring money into the UK, acknowledging the need to retain wealth and investment.
Speaking at the World Economic Forum in Davos, Reeves said: “We’re always interested in hearing ideas for making our tax regime more attractive to talented entrepreneurs and business leaders from around the world to help create jobs and wealth in the UK.”
The departure of wealthy individuals could have significant economic consequences. The top 1% of earners contribute nearly 30% of all income tax, meaning a continued outflow of HNWIs would put additional strain on public finances.
However, not all affluent Labour supporters are disillusioned. Green energy tycoon Dale Vince, who donated £5m to the party, remains a staunch backer. In October, he dismissed those threatening to leave the country over tax rises, saying they should “f— off.”
A Treasury spokesperson defended the government’s approach, stating: “At the Budget, we made the difficult decisions needed on tax to fix the foundations and increase investment in public services and the economy, to rebuild Britain and unlock long-term growth.”
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Ultra-wealthy regret voting Labour as confidence in economy plummets

The UK operations of gambling giant Stake are set to shut down next month following an investigation by the Gambling Commission into controversial advertising practices involving adult content.
Stake, an online casino and sports betting platform known for sponsoring Everton Football Club, came under scrutiny after a widely shared social media video featured OnlyFans performer Bonnie Blue – real name Tia Billinger – alongside the company’s branding.
The 25-year-old adult actress, who previously claimed to have set a world record for sexual encounters, was featured in a video discussing an explicit event at Nottingham Trent University. The clip was later edited to include Stake’s logo and circulated on X by accounts that specialise in viral content. It remains unclear whether Ms Billinger was aware of or consented to the branding.
The Gambling Commission launched an inquiry into the matter after receiving complaints from the Coalition to End Gambling Ads, which accused Stake of “using sexualised content to target young people.” The Advertising Standards Authority (ASA) also confirmed it was monitoring the company’s marketing practices.
Stake operates in the UK through a white-label partnership with Isle of Man-based TGP Europe, which facilitates access to the British market for overseas firms. The Gambling Commission has now confirmed that TGP Europe will shut down Stake UK’s operations next month.
In response, Stake stated that the decision was made “strategically” in collaboration with TGP Europe, citing plans to focus on acquiring local licences in key markets such as Brazil and Italy.
Everton FC’s sponsorship deal with Stake is set to run until the end of the Premier League season. The Gambling Commission has confirmed it will contact Everton and two other Premier League clubs associated with unlicensed gambling firms to ensure UK customers are blocked from accessing such sites.
Critics argue that the closure highlights wider issues with the UK’s gambling regulations. Will Prochaska, director of the Coalition to End Gambling Ads, said: “Forcing Stake out of the UK market is important, but it won’t fix a system that enables predatory gambling marketing, sometimes by firms that haven’t even applied for their own gambling licence. We need regulators who prioritise public health over gambling industry profits.”
Under UK law, advertising gambling services without the appropriate licence is illegal, and authorities continue to crack down on companies breaching these regulations.
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Gambling site Stake shut down after investigation into controversial porn star ads