A construction firm run by two bosses who have previously carried out work for Wetherspoon and JD Sports has been wound up. Juma Construction Group’s Matthew Hoyes and Julian Kirkpatrick have a combined 40 years worth of experience in the industry, according to the company’s website.

But the business based in Bolton, Greater Manchester, has been voluntarily ended after a special resolution was passed and joint liquidators appointed. Craig Johns and Jason Elliott from business advisory, Cowgills, are overseeing the process, which involves selling off assets, paying off any creditors and dishing out any funds to those who have a share in the firm.

Other firms Juma Construction Group’s directors have worked for under previous employers include BT, Sports Direct and Revolution Bars, the company website states.

The company offered office fit outs, renovations, refurbishments, gas and civil engineering.

According to the business, this included the design and build of a training facility at John Leggott College in Scunthorpe and a four month long fit out of The Bridge Hotel for Ask Drinks Ltd.

Juma Construction Group and Cowgills have been approached for comment.

News about the company, published by The Gazette on Monday (June 8), comes after the latest figures showed output in Britain’s construction industry declined at its fastest rate since Covid last month.

Worries about the Iran war as well as political uncertainty weighed on demand for building work in May, with the S&P Global UK construction PMI showing a reading of 38.2 – a steep decline from 39.7 in April.

A reading above 50.0 indicates activity in the industry is increasing while anything below means it is contracting.

The latest score was the lowest since May 2020, while construction output has been in decline for about a year-and-a-half despite the Labour Government’s manifesto pledge to build 1.5 million new homes by 2029.

S&P Global’s survey found elevated uncertainty about the economic and political climate was dampening demand, while firms were grappling with rising energy, fuel and transportation costs.

Builders surveyed suggested project delays and pushing back big investment decisions, as well as general cutbacks to their customers’ budgets, had resulted in fewer opportunities for work in May.

Some also pointed to political uncertainty having an impact on demand conditions, after Sir Keir Starmer fought to stay on as Prime Minister amid calls from Labour MPs for his resignation.

Max Jones, Head of Construction at Lloyds, said earlier this month: “While ongoing uncertainty weighs on output, many firms are staying focused on current work and planning for future growth.”

He said companies were continuing to invest in skills to be ready for new opportunities linked to cleaner energy and growing areas of importance, such as defence.

Gold prices have reached the $4,000 (£2979) per ounce mark for the first time on Tuesday as investors seek a “safe haven” amidst the ongoing US government shutdown.

The price of gold at the New York Stock Exchange soared past the $4,000 threshold just after the stock market opened that morning. The closing price for New York spot gold was previously reported at $3,960.60 per troy ounce, the standard measure for precious metals, on Monday.

Gold prices typically surge when investors, driven by anxiety about the economy, look for secure investments. Prior to Tuesday, this asset, along with other metals like silver, had seen significant gains over the past year, largely due to President Donald Trump‘s imposition of tariffs, which has caused global economic uncertainty.

Since the start of 2025, gold futures have risen about 50 per cent, trading at a new high of around $4,003 per troy ounce by around 9.30am on Tuesday. This represents a substantial increase from the roughly $2,670 (£1,989) seen at the start of January.

Much of this can be attributed to uncertainty. Interest in purchasing metals like gold typically spikes when investors become anxious.

The recent economic upheaval has largely been attributed to Trump’s trade wars. Since the beginning of 2025, the president’s hefty new tariffs on goods entering the U.S. from around the globe have put a strain on businesses and consumers alike – driving up costs and weakening the job market.

Consequently, hiring has plummeted while inflation continues to creep back up. Increasingly, consumers are voicing their pessimism about the future.

The ongoing US shutdown is exacerbating these anxieties. Crucial economic data has been delayed, and countless federal employees are already experiencing the impact of furloughs and working without pay for the duration of the shutdown, which has no immediate end in sight.

Trump has also threatened to use the shutdown to carry out mass redundancies and potentially permanently close offices in an attempt to penalise Democrats for rejecting GOP legislation.

The extent of the impact could depend on how long the deadlock lasts. Wall Street, meanwhile, has so far remained largely unaffected by the shutdown – but Treasury yields fell following disappointing hiring data from ADP Research on Wednesday.

Investments in gold have also been influenced by other factors over time. Analysts have previously highlighted strong gold demand from central banks worldwide – including amid escalating geopolitical tensions, such as the ongoing conflicts in Gaza and Ukraine.

Advocates of investing in gold label it a “safe haven” – arguing that the commodity can diversify and balance your investment portfolio, as well as mitigate potential risks down the line. Some also find solace in purchasing something tangible that has the potential to appreciate over time.

However, experts warn against putting all your eggs in one basket. And not everyone concurs that gold is a sound investment.

Critics argue that gold isn’t always the inflation hedge many claim it is – and that there are more efficient methods to safeguard against potential capital loss, such as derivative-based investments.

The Commodity Futures Trade Commission has also previously cautioned individuals to be sceptical of investing in gold. Precious metals can be highly volatile, the commission stated, and prices escalate as demand increases – meaning “when economic anxiety or instability is high, the people who typically profit from precious metals are the sellers.”

And even gold’s current rally has experienced some volatility. While still up significantly overall since the beginning of the year, there have been a few short periods with losses.

For instance, gold prices dipped for several days following Trump’s sweeping “Liberation Day” announcement on 2 April.

If you decide to invest in gold, the commission advises, it’s crucial to educate yourself on safe trading practices and be wary of potential scams and counterfeits on the market.

The UK’s small businesses appear to be facing a crisis, with confidence plunging to levels last seen during the Covid lockdowns, according to alarming new research. The latest figures from Novuna Business Finance, a provider of business finance to SMEs and larger corporations across the UK, reveal that only 26% of small businesses are expecting growth in the next three months, a figure not seen since 2020, at the height of Covid-19 lockdown. According to the latest government statistics, there are 5.45 million small businesses across the UK. These are businesses that have 0 to 49 employees.

Jo Morris, Head of Insight at Novuna, told the Express that businesses are buckling under “too much, too fast”, due to all the changes since the election. She said: “Small businesses are resilient – they can usually move faster than large companies and adapt quickly but the pace and volume of changes since the election has been overwhelming.

“We’re talking about market volatility, uncertainty, tax rule shifts, employer regulation changes all hitting at once.”

The Novuna data reveals a fourth consecutive quarterly drop in growth forecasts, with confidence levels now matching the darkest days of 2020.

London saw one of the steepest falls, from 48% to 37%, the North East tumbled from 42% to 29%, and Scotland plunged from 29% to 22%.

Morris added: “This time last year, the election bounce of a new Government taking office saw an immediate rise in small business confidence – with the percentage predicting growth rising from 30% to 35%.

“Ever since then, UK small business growth forecasts have fallen over four consecutive quarters. The new low of 26% for the three months to 30 September is on a par with the lockdown months of 2020.

“In contrast to the national picture, there are signs of positive growth outlook among Welsh businesses. Having trailed the national average for some time, Wales is now above the national average in terms of the percentage of small businesses predicting growth for the months ahead.

“Our national new report on small business outlook over the last year looks closely at how recent market developments – such as the NI hike for employers, uncertainty over tariffs and fears over autumn tax rises – have played out on small business confidence and their growth predictions.

“Whilst the economic picture for many enterprises is challenging, periods of uncertainty can also be times to invest in long-term success, and Novuna Business Finance is committed to helping established enterprises make the investments that will power future growth.”

While manufacturing (rising from 19% to 25%) and construction (up from 19% to 24%) showed modest recoveries from record lows earlier in 2025, real estate, transport, and distribution sectors saw notable declines between Q1 and Q2 2025.

Since the Labour Government came into power, one of the most significant changes has been the increase in Employer National Insurance contributions from 13.8% to 15%, along with a reduction in the contribution threshold from £9,100 to £5,000.

Although the Employment Allowance was broadened to provide relief for certain businesses, many employers are now encountering higher wage expenses while other input costs continue to stay high. Other changes since the Autumn Budget also include a reduction in capital gains allowance and changes to business rates.