Business & Technology
British Business Bank backs Soho Square fund with GBP £50m
KAREN JOY BACUDO
Finance Editor
The British Business Bank has committed GBP £50 million to Soho Square Partnership Capital Fund II, becoming a cornerstone investor in the fund.
The commitment is intended to support established small and medium-sized businesses seeking funding for expansion, acquisitions and succession planning. Several US institutional investors have also joined the fund, adding to its capital base.
London-based Soho Square Capital focuses on lower mid-market businesses, providing structured finance to founder-owned companies in the UK. Its model centres on debt-led funding with smaller or minority equity positions, offering an alternative to conventional bank lending and full private equity buyouts.
Fund II will back businesses in sectors identified in the government’s industrial strategy, with a preference for digital and technology, as well as professional and business services. It will lend to companies with EBITDA of up to GBP £15 million and turnover of up to GBP £200 million.
At least 75% of the vehicle is expected to be invested in the UK, with a particular focus on companies outside London across the nations and regions. The commitment also aligns with the British Business Bank’s wider plan to direct more capital towards eight industrial strategy sectors over five years.
Its role as a cornerstone investor is also intended to attract other institutional money into the market. The bank will also be able to participate in co-investments alongside the fund.
Funding gap
The investment highlights a part of the finance market that policymakers and specialist investors consider underserved. Established smaller businesses often need capital for technology adoption, acquisitions or ownership transitions, but may find standard bank loans too restrictive and private equity too dilutive.
Structured capital aims to address that gap by combining secured lending with a more limited equity element. For founders, that can mean raising larger sums without ceding control of the business.
“This commitment is directly addressing a gap in the debt market. It will unlock flexible capital solutions for established businesses with strong growth potential, an area currently underserved by other lenders. It will create more jobs and drive long-term economic growth across the UK’s nations and regions, while strengthening the modern Industrial Strategy sectors which are critical to the UK’s future competitiveness,” said Adam Kelly, Managing Director and Co-Head of Funds, British Business Bank.
The government linked the transaction to its wider economic agenda for smaller companies and regional growth. Ministers have argued that better access to finance for expanding companies is necessary if more businesses are to remain independent as they grow in the UK.
“Through our Modern Industrial Strategy, this Government is ensuring businesses with the highest growth potential have the capital they need to succeed here in the UK,” Blair McDougall, Minister for Small Business and Economic Transformation, said.
“This commitment backs dynamic SMEs in key sectors, helping them scale, create jobs and drive growth, to raise living standards across the UK.”
Founder focus
Soho Square positions its approach around founder-owned businesses facing transitional moments rather than businesses preparing for a sale. Those moments can include operational expansion, investment in technology, acquisitions or succession events in which owners want to retain meaningful control.
Its funding structure is designed to allow business owners to continue building their companies without ceding ownership to a traditional buyout investor. That approach has become more prominent as founders look for capital options between senior bank debt and private equity.
“The Bank’s backing lets us do more of what we set out to do: give founder-owned businesses the institutional capital they need, on terms that let them stay in control and keep building. That is what our partnership capital is about, and having the Bank behind it means more high-quality UK businesses can take their next step without giving up the reins,” said Walid Fakhry, Co-Managing Partner, Soho Square Capital.
The British Business Bank’s core programmes support GBP £23 billion in finance for almost 64,000 smaller businesses. The Soho Square commitment adds to a broader effort by the state-backed lender to use public capital to attract private investors and broaden the range of funding available to UK companies.
Business & Technology
New Banbury pottery cafe enjoys successful opening weekend
Blossom Pottery Cafe opened on Friday, August 14 at 18 South Bar, bringing a new artistic opportunity to coffee, tea and cake lovers in the town.
Opening the cafe was a long-standing dream of owner Wendy, who began pottery as a personal hobby and gradually developed the idea of creating a space where people of all ages can enjoy the peaceful pass time.
Pottery painting sessions of bisque fired pieces are hosted daily (Image: Blossom Pottery Cafe)
With every table full on opening weekend and dozens of beautiful pieces newly painted by guests, the owner said her ‘heart is so full’ to see the dream realised.
“So grateful to see so many of you coming to support us on our opening day,” she shared. “Thank you so much.”
Owner Wendy said her ‘heart is so full’ after the support shown during the opening weekend (Image: Blossom Pottery Cafe)
Wendy earlier said: “We’re incredibly excited to be opening Blossom Pottery Studio & Café and bringing something new to Banbury.
“We hope it becomes a place where people can take a break from their busy lives, enjoy being creative, and make lasting memories with family and friends.
Customers who visited during the opening weekend got free cupcakes (Image: Blossom Pottery Cafe)
“The support we’ve received from the local community has been amazing, and we can’t wait to welcome everyone through our doors.”
As part of the grand opening, all customers who visited during the opening weekend or made a pottery painting booking within the next three months received a free cupcake from the cafe.
Blossom Pottery Cafe hosts family-friendly pottery painting sessions from 10am each day, with normal cafe opening hours 8am to 5pm.
Business & Technology
Apprentices say AI is reshaping tech skills demand
Atos highlighted the views of three apprentices entering the technology industry, focusing on apprenticeships as a route into tech as artificial intelligence reshapes workplace skills.
All three work as First Line Service Desk Apprentices and described a jobs market in which technical knowledge alone is not enough. Alongside coding and troubleshooting, they said communication, customer service, problem-solving and adaptability have become central to early careers in IT.
Kyle Brady said he moved into an apprenticeship after studying physics, maths and computer science at A level, then spending time in temporary work, including as a forklift driver, while building his technical skills independently. The apprenticeship, he said, offered a way to gain workplace experience while continuing to learn.
His account points to a common hurdle for new entrants: gaining practical experience before securing a first role. Brady said that challenge shaped his view of what employers value in technology jobs.
“After completing my A levels in physics, maths and computer science, I knew I wanted a career in technology. I’ve always enjoyed solving problems and understanding how things work, but I found it difficult to get my foot in the door. I spent some time in temporary jobs, including as a forklift driver, while building my technical skills in my own time. When the opportunity to start an apprenticeship came along, it felt like the perfect way to gain real workplace experience while continuing to learn.
“One of the biggest things my apprenticeship has taught me is that a career in tech is about much more than technical knowledge. Working on the helpdesk has shown me how important communication, customer service and problem-solving are. Being the first point of contact for users has completely changed how I see the industry and helped me develop skills I never realised I’d need. The experience has also shown me how quickly technology is evolving, especially with AI becoming part of more workplaces. That means the ability to keep learning and adapting is becoming just as important as technical skills. My apprenticeship has helped me build that mindset while giving me hands-on experience with the realities of working in IT.
“It’s also opened up opportunities I wouldn’t have had otherwise. Learning about career paths in cybersecurity and data engineering has shown me the range of opportunities available and given me confidence about where my career could go next. I’d encourage anyone thinking about a career in technology to keep an open mind and not feel like university is the only route. Apprenticeships give you the chance to earn while you learn, develop practical skills from day one and build the confidence to adapt as technology continues to change. In an industry being transformed by AI, that real-world experience is invaluable,” Brady said.
Ryan Cresswell said he studied IT at college and games design at university before working in sales to strengthen his people skills. He later returned to technology, but said employers often wanted practical IT experience as well as qualifications.
His experience reflects a wider issue for people seeking entry-level technology roles. Employers often ask for evidence of workplace readiness even for junior positions, making apprenticeships one way to bridge the gap between education and employment.
“After studying IT at college and games design at university, I began working in sales to hone my people skills before returning to technology. One of the biggest challenges I faced while applying for jobs in tech was that employers liked my qualifications but wanted candidates with hands-on IT experience. That made it difficult to get my foot in the door.
“My apprenticeship has given me the opportunity to earn, learn and gain practical experience at the same time. It’s allowed me to develop my technical troubleshooting skills, but I’ve also learned a lot about communication, problem-solving and handling different types of people. My advice to anyone considering a career in tech is to explore the different paths available. In the past it felt like university was the only choice, but that’s no longer the case. Also, speak to people already working in the industry and stay curious. Apprenticeships are a great way to build skills, confidence and hands-on experience, whether working individually or in a team, while discovering what’s right for you. The most important thing is to keep learning and not be afraid to take a different path if the first one doesn’t work out,” Cresswell said.
Skills shift
Zainab Hussain said she chose an apprenticeship because it offered immediate workplace experience and a path into more senior roles without student debt. She said the role had helped her develop both technical and interpersonal skills, including troubleshooting problems and explaining complex concepts clearly.
Her comments underscore how apprenticeships are being framed by employers and trainees as an alternative to university for some digital roles. In this case, the appeal lies in earning while learning, building professional networks and gaining direct exposure to the daily demands of IT support.
“I’m naturally drawn to tech and have always been IT literate, so I knew it was the right path for me. It’s an industry that’s constantly evolving, and I wanted to be part of that. I chose an apprenticeship because it felt like the best way to gain real experience from day one, and it sets you up to move into higher roles faster than if you go to university. I also wanted to build a career in the industry without taking on student debt.
“My time at Atos so far has helped me develop both my soft and technical skills, such as how to troubleshoot problems and communicate complex concepts clearly. I’ve also had the chance to earn, learn and build my experience, all of which are helping prepare me for the next stage of my career. The apprenticeship path has given me valuable opportunities to network with co-workers from different career backgrounds and skill sets, which you wouldn’t get at uni. The workplace experience has been incredibly valuable, so if you’re interested in tech, I’d encourage you to go for an apprenticeship, explore every opportunity available and keep an open mind,” Hussain said.
Taken together, the three accounts point to a shift in the skills mix associated with junior technology roles. As AI tools become more common in workplaces, the apprentices said the ability to keep learning, work with users and adapt to changing systems is becoming as important as formal technical training.
All three also described apprenticeships as a practical answer to the experience barrier that can prevent candidates entering the sector. They framed the route as a way to gain income, training and exposure to real workplace problems at the same time, while opening paths into areas such as cybersecurity, data engineering and wider IT support.
Business & Technology
UK flight school collapsed into liquidation
Liquidators have been instructed to wind down Go Fly Oxford, which provided lessons for commercial and private pilots licences.
Colin Wilson and Emma Mifsud, of Opus Restructuring & Insolvency, have been appointed as joint liquidators for Go Fly Oxford Ltd back in May 2025.
But new records filed by the liquidators have revealed an HMRC secondary preferential claim of £118,132.
Ten unsecured claims have been received by the liquidators totalling £60,314.
Further unsecured creditor claims estimated in the statement of affairs total £88,955, the published documents say.
(Image: Ed Nix)
Over the past year, liquidators say they investigated whether any recoveries could be made from directors or other parties, but concluded there were no further viable assets or claims.
Aircraft shown in the 2024 accounts at a book value of £238,181 had been sold before liquidation. The liquidators found the sales appeared to be at fair value and saw no basis for a claim over the transactions.
The aircraft sales happened about seven months before liquidation, outside the relevant period for a preference claim.
The aircraft were reportedly transferred to creditors and leased back so the company could continue trading.
A purchaser of a PA34-200 aircraft was said to owe £6,000. The liquidators received £4,980; the remaining £1,020 was treated as settled because the purchaser had paid a company liability instead.
Two employees were made redundant on 31 March 2025 and were given information to submit claims to the Redundancy Payments Service.
READ MORE: MOT centre and car shop collapses into administration
The flying school was based at Oxford Airport when it collapsed.
Its website, which has since been shut down, described the business: “At Go Fly Oxford we pride ourselves on offering a personal and tailored approach to pilot training.
“We know that people learn at different paces and in different ways, this makes catering for individual needs our main target.”
Oxford Airport’s main trade is pilot training. Flight schools at Oxford train pilots who go on to fly for more than 100 airlines in the UK and globally, including for British Airways.
Historically, the airport has been Europe’s foremost centre for professional pilot training with well over 40,000 students having started their careers there.
At one point, the airport’s runway was the busiest in the world with more than 235,000 movements a year (a take-off or landing) and up to 1,100 flights in a single day, its website says.
The business’ report says: “Over the course of 2025, the company will be complementing its Diamond DA40 fleet with a new fleet of Elixir aircraft, a safer and more efficient type of aircraft, which will provide a much reduced cost per flight hour.
“This, along with growth in enrolments and full utilisation of the European base will ensure the profitability of the business in the coming years.”
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