The second edition of the HSBC UK Corporate Tracker reveals a mid-market that has come through the crisis period in better shape than expected. EBITDA has outpaced debt growth, leverage has improved, and companies are beginning to invest again. Here's what that means for finance leadership.

The latest UK startup data paints a nuanced picture of the entrepreneurial landscape.

On the surface, new company formations dipped slightly in 2025. But beneath the headline, the UK business base continues to expand — and for founders, investors and finance leaders, that distinction matters.

For growing businesses, the question is no longer simply about starting up.
It is about surviving, scaling, and professionalising finance earlier in the journey.

A recent report on investment into UK university spinouts caught my attention. Not because it's a market I recruit into directly, but because the patterns it describes — selective capital, investor caution, a premium on commercial readiness — mirror almost exactly what I'm hearing from boards and PE investors when they talk about hiring senior finance leaders.

The latest quarterly snapshot from the turnaround market paints a picture that will feel familiar to many UK boards and investors.

Activity in restructuring and turnaround remains robust.
Distress levels are edging upward.
And while insolvency numbers have softened slightly, the underlying pressure on UK businesses has not gone away.

For finance leaders and investors alike, the message is clear:
stress is building quietly rather than breaking loudly.

A recent report from Beauhurst highlights a quiet but meaningful shift taking place inside the UK’s early-stage investment ecosystem: the rapid growth of women angel investors.

At first glance, this might look like a diversity story.
But look a little deeper and it becomes something far more significant — a signal about how capital, innovation, and leadership are evolving across the UK economy.

UK Private Equity in 2025: Not a Slowdown — A Selection Event

Periods of market adjustment are often described in terms of decline:
fewer deals, slower momentum, weaker sentiment.

But the UK equity market in 2025 tells a more interesting story.

Deal volumes fell again — yet capital deployment held firm and average deal sizes increased.
In other words, activity didn’t disappear. It became more selective.

CFO turnover is often viewed as a sign of instability. In reality, it is increasingly a deliberate board-level decision.

Across listed, private equity-backed and growth businesses, boards are reassessing finance leadership more frequently — not because performance is failing, but because the demands of the CFO role are changing.