UK Business News Round-Up 2026: Succession Planning, Employment Law, Cyber Risks & Financial Strategy
Welcome to our latest business news round-up. Contact us to discuss how these updates may affect your business. We are here to help!
What Apple’s CEO Handover Tells Business Owners About Succession Planning
Apple Inc. announced last week that Tim Cook will step aside as chief executive on 1 September 2026, handing the role to John Ternus, the current head of hardware engineering. Cook will remain closely involved as executive chairman.
For business owners and founders, the question of who will take over when you step back is a significant one. Apple has described its leadership transition as “a thoughtful, long-term succession planning process”. While Apple is a global company, the same core principles apply to smaller businesses, including those with only a handful of employees or family-run operations. For smaller businesses, succession planning might involve grooming a trusted team member, preparing a family successor, or outlining a clear plan for sharing responsibilities among a small group. The goal remains the same: ensuring a smooth and successful leadership transition, whatever the size or structure of your business.
So, what lessons can business owners take from this approach?
Succession takes time, so start early.
One of the clearest messages is that succession planning should begin well in advance of any planned exit.
John Ternus has spent over 25 years at Apple and has played a key role across multiple product lines. He has also described Tim Cook as a mentor, suggesting a gradual transition involving increasing responsibility, development and exposure to leadership decisions.
Succession planning is therefore not about making a last-minute appointment; it is about developing capability over time.
In practical terms, this means:
- Identifying potential successors early
- Rotating responsibilities to build broader experience
- Giving future leaders exposure to decision-making under pressure
- Allowing room for learning and, importantly, occasional mistakes while you are still involved
Even if a chosen individual does not ultimately take over, this process will still strengthen your business.
Planning your exit strategy?
Here are three practical first steps to begin your succession planning process:
- Identify your business’s key roles that will be crucial for future success.
- Start keeping an eye out for team members who demonstrate leadership potential or dedication.
- Begin informal mentoring or give potential successors new responsibilities to help them develop relevant experience.
We can help you identify successors and build a succession plan tailored to your business.
Internal successors can reduce risk.
Apple’s decision to promote from within means its new CEO already understands the business at a deep level, knowledge that cannot be quickly transferred to an external hire.
Bringing in an external leader can introduce risks such as:
- Disruption to business strategy
- Loss of key relationships
- Operational uncertainty during transition
While internal succession does not remove all risks, it significantly reduces uncertainty and helps maintain continuity.
Thinking about leadership continuity?
Book a free consultation with us to discuss structuring your business for a seamless transition.
The outgoing leader still matters.
Another notable aspect of Apple’s transition is that Tim Cook will remain involved as executive chairman rather than making a complete exit.
This allows the business to retain valuable experience while ensuring the new CEO has clear authority.
For many business owners, stepping back can be challenging. Without clear boundaries, this can lead to:
- Confusion over roles and responsibilities
- Delays in decision-making
- A successor feeling undermined
The key takeaway is that if you remain involved, your role must be clearly defined to support, not hinder, the transition.
Final thoughts
Apple’s CEO handover is not a one-size-fits-all blueprint, but it offers valuable insight into effective succession planning.
A successful transition is rarely rushed. It is built over time through careful planning, development and clear communication.
Need support with succession planning or an exit strategy?
If you would like personalised advice on succession planning, tax, or business preparation, book a free consultation with experts today. Plan with confidence!
Unemployment rate drops in February.
The latest figures from the Office for National Statistics (ONS) show that unemployment in the three months to February fell to 4.9%, down from 5.2%.
However, Liz McKeown, Director of Economic Statistics at the ONS, noted that, alongside falling unemployment, the number of people not actively seeking work has increased. The data suggests that fewer students, particularly, are seeking employment alongside their studies.
The inactivity rate, measuring those not actively seeking work, rose to 21%, up from 20.7%.
What does this mean?
While a falling unemployment rate is generally seen as positive, the increase in inactivity presents a more complex picture.
If more individuals are choosing not to look for work, it may indicate:
- Limited availability of suitable job opportunities
- Concerns around the quality or pay of roles
- Changing workforce behaviour, particularly among younger people
There is also ongoing debate about whether developments in Artificial Intelligence (AI) are reducing the number of entry-level roles available. At present, there is no clear evidence linking the two, but it remains an area to watch.
Overall, the improvement in unemployment figures may not be as straightforward as it first appears.
Concerned about hiring or workforce trends?
If changes in the labour market affect your strategy, please get in touch. We can help you plan ahead with confidence.
Key indicators to watch: To stay informed, business owners should monitor trends such as the unemployment rate, economic inactivity rate, wage growth, and the number of job vacancies. Shifts in these data points can signal changes in workforce availability, the competitiveness of the jobs market, and overall hiring conditions.
See: https://www.bbc.co.uk/news/articles/cjd84pkkjgpo
Now, let’s turn our attention to cybersecurity threats and what business leaders should know about them.
The National Cyber Security Centre (NCSC) has issued a strong call to action for business leaders to improve resilience against increasingly severe cyber threats.
According to its Annual Review 2025, there is a growing gap between the pace of cyber threat evolution and the UK’s ability to respond effectively.
While the guidance is primarily aimed at larger organisations, cyber risks remain a serious concern for businesses of all sizes.
Why preparation matters
The NCSC highlights that when a cyber incident occurs, it is often too late to start deciding how to respond.
Instead, businesses should prepare in advance to ensure they can:
- Continue operating during disruption.
- Minimise financial and operational impact
- Recover quickly after an incident.
Key questions to consider
To strengthen your resilience, consider the following:
- What would happen if your website or systems were unavailable for a period?
- How would this impact your operations and revenue?
- What contingency plans are in place to keep your business running?
Businesses that perform best during cyber incidents are those that have already planned for disruption and implemented robust recovery processes.
Taking action
Cybersecurity is no longer just an IT issue; it is a core business risk that requires strategic planning.
Is your business prepared for cyber risks?
To get started right away, consider these three essential steps for strengthening your business’s cybersecurity:
- Ensure you have regular, secure backups of important data stored separately from your main systems.
- Provide basic cybersecurity awareness training to your staff, focusing on spotting phishing emails and using strong passwords.
- Keep your software and systems up to date to reduce vulnerabilities to known threats.
Taking these practical steps will help boost your resilience and prepare your business for future challenges.
See: https://www.ncsc.gov.uk/blogs/preparing-for-severe-cyber-threat-why-leaders-must-act-now
Why Financially Successful Business Owners Can Still Feel Out of Control
Your business may be performing well financially, yet you may still feel uncertain about the direction of your personal finances.
For many business owners, wealth builds up gradually, and often unevenly. You might have multiple pensions set up over the years for tax efficiency, personal savings and investments accumulated during strong trading periods, and surplus cash retained within the business “just in case”. You may also be relying, at least in part, on the future sale of your business.
At the same time, business income can fluctuate year by year, tax rules evolve, and personal financial decisions are often shaped by what the business needs at any given moment. Taken together, these factors can make it difficult to see the bigger picture.
So, what practical steps can help you regain clarity and control?
Start by getting everything on one page.
A good starting point is to ask yourself: “What do I actually have, and where is it held?”
If the answer is not immediately clear, it is worth creating a simple overview that includes:
- Pensions (including older workplace schemes)
- Personal savings and investments
- Surplus cash held within the business
- Mortgages and other long-term liabilities
- An estimate of your business’s potential value
This does not need to be complex. A straightforward list with current values and regular contributions can provide a valuable perspective.
Not sure where to start?
Book a free consultation with us. We can help you organise your finances into a clear, structured overview.
Be clear about what each pot of money is for
A common issue is that money accumulates without a defined purpose.
For example, cash held in the business might include emergency reserves, funds for future tax liabilities, and retained profits from previous years. Similarly, personal investments may be labelled “long-term” without a clear objective, whether retirement, education costs, or something else.
Assigning a purpose to each pot of money can make decision-making far more straightforward.
- Short-term funds can be managed conservatively.
- Long-term investments may be positioned for growth.
Without this clarity, it is easy to be either overly cautious or inadvertently expose oneself to risk.
Want a clearer financial strategy?
Book a free consultation with us today. We can help align your finances with your goals.
Question long-held assumptions
As your circumstances evolve, it is important to revisit earlier decisions and assumptions.
For instance:
- Relying on your business for retirement
It is worth doing a sense-check to see what this might realistically look like. Rather than relying on a best-case sale value, consider alternative scenarios. Would additional investment in the business deliver the best return, or are there other options worth exploring? - Holding excess cash in the business
If you have retained significant cash for uncertainty, ask whether that uncertainty still exists. If not, the value of that cash may be gradually eroded by inflation. - Older pensions and investments
Financial products set up years ago may no longer be competitive or aligned with your current risk profile and objectives.
Regularly reviewing these areas can help ensure your financial plan remains relevant and effective.
When did you last review your financial setup?
If it has been a while, now is a good time to reassess and make informed adjustments.
Concluding thoughts
Taking a step back to view your personal finances as a whole can bring clarity and confidence. It allows you to identify where action is needed and where things are already working well.
Financial success in your business should translate into personal financial security and direction. With the right structure and planning, you can achieve both.
Need help making sense of your finances?
If you would like support in reviewing your personal financial position and planning for the future, book a free consultation with our experts. We would be happy to help you take control with confidence.
Consultation on Process for Handling Flexible Working Requests
The government has launched a consultation on a proposed new process that employers will be required to follow when handling flexible working requests.
In the years since COVID-19, there has been a significant cultural shift in attitudes towards flexible working, including remote and hybrid arrangements. While this shift has brought clear benefits for both employers and employees, there are still roles where flexible working is not practical. For example, certain jobs, such as driving roles, cannot be performed remotely.
Under the new Employment Rights Act, changes are being introduced that are likely to increase the acceptance of flexible working requests. However, employers will still retain the right to refuse requests where there is a valid business reason.
Since April 2024, employers have been required to consult with employees when considering flexible working requests. However, there has been no formal structure governing how this consultation should take place. The government is now seeking to introduce a standardised process to ensure consistency and fairness, particularly in cases where requests are declined.
The proposed process is designed to encourage open dialogue between employers and employees, ensuring that all reasonable options are explored and, where appropriate, trialled before a final decision is made.
Looking ahead, a new ‘reasonableness test’ is due to come into force in 2027. This will require employers to approve flexible working requests where they are considered reasonable and feasible. The government has indicated that statutory guidance will be issued to help businesses understand and apply these new obligations.
The consultation is also seeking input from employers on how flexible working requests are currently handled. This feedback will help shape future guidance and support resources for both employers and employees.
What should employers do now?
This is a good opportunity to review your current flexible working policies and ensure they are clear, fair, and well-documented. When consulting with employees, consider keeping brief written records of meetings, options discussed, and any outcomes or agreed trial periods. Even a short summary in an email to the employee can demonstrate that a fair process was followed and help you meet compliance requirements.
Need support updating your HR policies?
Get in touch with our team for practical guidance on staying compliant and managing employee requests effectively.
To read more and take part in the consultation, see:
https://www.gov.uk/government/consultations/make-work-pay-improving-access-to-flexible-working
HSE Consultation on Workplace Incident Reporting
The Health and Safety Executive (HSE) has opened a consultation on proposed changes to workplace injury and illness reporting requirements.
Currently, these obligations fall under the Reporting of Injuries, Diseases and Dangerous Occurrences Regulations 2013 (RIDDOR).
The HSE is seeking feedback on several proposed updates to improve clarity, accuracy, and usability. These include:
- Clarifying definitions within RIDDOR where current terminology may be unclear or ambiguous.
- Updating the lists of reportable dangerous occurrences and occupational diseases.
- Expanding the range of professionals who can diagnose reportable occupational diseases to include certain registered health practitioners, not just doctors registered with the General Medical Council.
In addition, the HSE is exploring ways to simplify the online RIDDOR reporting system to make it more user-friendly for businesses.
The consultation is open until 30 June 2026.
What does this mean for your business?
If implemented, these changes could affect how incidents are recorded, reported, and managed within your organisation.
Need help reviewing your compliance processes?
Book your free consultation now. We can help ensure your reporting procedures align with current and upcoming regulations.
To read more about the proposals and respond, see:
https://consultations.hse.gov.uk/hse/proposals-riddor-2013/
Shared Office Spaces Being Hit by Increased Business Rates
Recent changes to the way co-working spaces are assessed for business rates have raised significant concern across the business community.
Previously, shared office spaces were assessed based on individual units, often resulting in rateable values low enough to qualify for Small Business Rate Relief (SBRR).
However, following a legal ruling, the Valuation Office Agency (VOA) is now assessing many shared workspaces as a single entity. As a result, the overall rateable value increases, often exceeding the SBRR threshold.
The Federation of Small Businesses (FSB) estimates that nearly 4,000 shared office spaces could be affected. Some projections suggest that small businesses may face additional costs of up to £5,400 per year.
Shared office environments have long provided an accessible stepping stone for businesses moving from home-based operations into commercial premises. However, rising costs may now force some businesses to reconsider this transition, or even return to home working.
What should businesses consider?
Now is a good time to review your premises strategy, cost base, and eligibility for reliefs. If you are affected by increased business rates, you may be able to appeal the new valuation or challenge specific details in your assessment. In some cases, transitional relief and small business rate relief may still apply even after reassessment. It is also worth checking for any local authority hardship schemes or discretionary discounts that could help manage unexpected increases. Taking prompt action can help you identify and assess all available options.
Concerned about rising business rates?
Book a free consultation for advice on managing costs, reviewing your position, and exploring potential relief options.
See:
https://www.telegraph.co.uk/gift/781ef8314d41c0f4
Q1: What can business owners learn from Apple’s succession planning?
Businesses can learn the importance of early planning, developing internal talent, and ensuring a structured leadership transition to reduce risk and maintain continuity.
Q2: Why is succession planning important for small businesses?
Succession planning ensures business continuity, protects value, and enables a smoother transition when the owner exits or reduces their involvement.
Q3: What are the latest employment law changes in the UK?
Recent updates include consultations on flexible working processes and a future “reasonableness test” requiring employers to accept feasible requests.
Q4: Why is cybersecurity important for small businesses?
Cyber threats are increasing, and even small businesses are targets. Preparing in advance helps minimise disruption, financial loss, and reputational damage.
Q5: What is RIDDOR and why does it matter?
RIDDOR is a UK regulation requiring businesses to report workplace injuries and incidents. Proposed updates aim to improve clarity and reporting processes.
Q6: Why are shared office spaces facing higher business rates?
Due to changes in valuation by the Valuation Office Agency, many co-working spaces are now assessed as a single entity, increasing costs and reducing eligibility for reliefs.
Q7: How can business owners regain control of their personal finances?
By consolidating financial information, assigning clear purposes to funds, and regularly reviewing assumptions and strategies.
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