NEWS - BUSINESS & ECONOMY

London business confidence highest in UK, report shows

February 01 ,2018 | by Anisa Choudhary

The latest Business Barometer from Lloyds Bank Commercial Banking has shown business confidence in London was the joint highest of all regions in the UK in January.  

The Business Barometer, which is released monthly and has been running since 2002, was carried out on a regional basis for the first time, with 1,200 businesses surveyed.

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Regulators could help London stay competitive

January 29 ,2018 | by Anisa Choudhary

UK lawmakers have urged financial regulators to help keep London a major global financial centre after Brexit.

A report from a House of Lords committee has suggested the UK government could require regulators to boost competitiveness in the industry and help to ensure the capital remains a global base for financial dealing.

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Bank of England Governor predicts “conscious recoupling” of economies

January 26 ,2018 | by Anisa Choudhary

Bank of England Governor Mark Carney has predicted a “conscious recoupling” of the UK economy with the rest of the world as Brexit continues.

Carney was speaking to the BBC at the World Economic Forum in Davos, and admitted that the UK economy is currently an outlier in terms of global economic growth.

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UK forerunner in queue for US trade deals

January 25 ,2018 | by Anisa Choudhary

US Treasury Secretary Steve Mnuchin has said the UK will be at the head of the queue for negotiating free trade agreements with the US.

Mnuchin, who has a leading role in overseeing the US economy, made the promise at the World Economic Forum in Davos.

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IMF gives optimistic report on global trade

January 23 ,2018 | by Erin O’Neill

The immediate future of the global economy looks good, according to the latest report from the International Monetary Fund (IMF).

The IMF has found that the recent upturn in international trade is led by growth in Europe and Asia.

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SMEs confident about financial growth, survey shows

January 18 ,2018 | by Erin O’Neill

A survey commissioned by global business analytics firm Dun & Bradstreet and the Small Business Research Centre has found that SMEs are feeling confident about their future despite uncertainties over Brexit.

The research surveyed 505 managers and found that 54 per cent are feeling confident about their future success, whilst 75 per cent are confident that they will achieve financial growth over the next five years.

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British banks could help to boost UK’s productivity growth

January 17 ,2018 | by Erin O’Neill

British banks could help to boost the UK’s productivity growth, according to Bank of England Monetary Policy Committee (MPC) member Silvana Tenreyro.

Delivering her first public speech as an MPC member, Tenreyro said that she believes UK banks have almost recovered from the financial crisis ten years ago, which could lead to a rise in UK productivity as the finance industry’s performance starts to improve.

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Financial services to be a priority in Brexit deal

January 15 ,2018 | by Anisa Choudhary

The government will make the UK’s financial services sector a priority in the next round of Brexit negotiations, according to Theresa May.

The Prime Minister met with a number of financial services leaders to discuss the UK’s exit from the EU, with input being provided by bosses from major banks and financial institutions such as HSBC, Barclays, Goldman Sachs, JP Morgan Chase, and Prudential.

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Lloyds report shows increase in business confidence in London

January 09 ,2018 | by Erin O’Neill

The latest Business in Britain report from Lloyds Bank has shown that business confidence in London has reached its highest level since 2016.

The report surveyed more than 1,500 businesses on their expected sales, orders and profits over the next six months and found that business confidence has risen to 25 per cent, an improvement on figures from July 2017 and after the EU referendum in 2016, when business confidence stood at 20 per cent and just 4 per cent respectively.

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SMEs optimistic about obtaining finance in 2018, report shows

January 08 ,2018 | by Anisa Choudhary

A report from retail bank Aldermore has shown small and medium-sized businesses are optimistic about obtaining finance over the next year.

The Aldermore Future Attitudes report surveyed more than 1,000 business decision-makers across the UK. They found 75 per cent are confident they will be able to access funding to achieve their growth ambitions, up from 63 per cent in Q4 2016.

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Business confidence stabilises in UK, Lloyds Bank report shows

January 02 ,2018 | by Anisa Choudhary

Lloyds Bank’s Business in Britain report from early 2017 has shown confidence among stabilised at the start of the year after a dip in the summer.

The report’s confidence index increased to 14 per cent, up from 12 per cent in September in the previous year.

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More than 30% of millennials plan digital currency investments

January 01 ,2018 | by Anisa Choudhary

Research commissioned by London Block Exchange (LBX) has found that 33 per cent of millennials will have invested in digital currency by the end of 2018.

The study, which was carried out by Opium Research, surveyed 2,000 Britons and showed a significant increase in the number of young adults planning to invest in digital currency. 5 per cent of millennials already do this.

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UK business leaders feeling confident, research shows

December 27 ,2017 | by Anisa Choudhary

Research from the Institute of Directors (IoD) has found that business leaders in the UK have very confident expectations for their companies in 2018.

The study found that nearly half of business leaders were feeling quite optimistic or very optimistic about what 2018 will bring for their business.

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Research shows increase in angel investment in UK

December 18 ,2017 | by Anisa Choudhary

Research from the British Business Bank and the UK Business Angels Association (UKBAA) has shown an increase in angel investment in the UK.

The study revealed more than 40 per cent of angels invested more in 2016 than in the previous year.

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Confidence at a high amongst UK entrepreneurs, research shows

December 08 ,2017 | by Erin O’Neill

A new survey from the Institute of Directors (IoD) has shown that UK entrepreneurs are feeling confident, with those who run young companies feeling more positive than those running established companies.

The research surveyed 628 members from entrepreneur group IoD99 and found that 83 per cent of entrepreneurs are feeling optimistic about their business prospects over the next year, compared to just 56 per cent of businesses in the IoD overall membership, who were surveyed in separate research.

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SMEs accounted for 60% of private sector employment

December 04 ,2017 | by Erin O’Neill

The Department for Business, Energy and Industrial Strategy (BEIS) has estimated that small and medium-sized businesses in the UK accounted for 60 per cent of employment in the private sector in the past year.

The figures showed that the number of SMEs in the UK has hit a record high of 5.7 million, up by 200,000 from last year and an increase of 2.2 million since the start of the millennium.

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85% of Britons want to start a business

November 30 ,2017 | by Erin O’Neill

Research from Huawei has found that 85 per cent of people in Britain want to set up their own business, with 77 per cent planning to pursue their goals in 2018.

The study surveyed 5,000 people across the UK and revealed which cities are leading the way when it comes to career goals.

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Industrial Strategy to boost skills and training in UK

November 28 ,2017 | by Erin O’Neill

The Government’s Industrial Strategy has been launched to help boost skills, training and research in the UK.

Over the next three years, £725 million will be put towards the Industrial Strategy Challenge Fund to help make the UK the most innovative nation in the world by 2030.

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Fintech businesses have most ambitious fundraising plans, research shows

November 22 ,2017 | by Erin O’Neill

Fintech businesses are the most ambitious when it comes to their fundraising plans, according to a report from professional services and Big Four firm EY.

The EY Fast Growth Tracker surveyed hundreds of UK entrepreneurs about their future funding plans and found that 34 per cent of fintech firms are aiming to raise £5 million for their next fundraising round.

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UK Living Wage rises by 3.6 per cent

November 21 ,2017 | by Anisa Choudhary

At least 150,000 workers in the UK are set to receive an increase in pay after The Living Wage Foundation announced a 3.6 per cent rise in the UK Living Wage.

The new UK rate is now £8.75 per hour, up from £8.45 and £1.25 more than the minimum wage.

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Lloyds PMI shows increase in London business activity growth

November 15 ,2017 | by Erin O’Neill

Business activity growth reached its highest in six months in London last month, the latest Lloyds Bank Regional Purchasing Managers’ Index (PMI) has shown.

The London PMI registered a reading above 50, signalling growth in business activity in the city. October’s reading stood at 56.3, up from 54.1 from the previous month and the fastest rate of growth since April.

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Londoners most likely to start their own business

November 13 ,2017 | by Erin O’Neill

Research from Ebuyer has found that 80 per cent of Britons aspire or have aspired to set up their own business, with Londoners being the most entrepreneurial.

The research surveyed 2,000 UK adults and found that 84 per cent of residents in London have thought about starting their own business.

 

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London Living Wage increases by 4.6 per cent

November 07 ,2017 | by Anisa Choudhary

Mayor of London Sadiq Khan has announced the London Living Wage has increased from £9.75 to £10.20 per hour.

The 4.6 per cent rise marks the first time the city’s Living Wage has increased to more than £10.00 per hour.

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Investors value business owners with soft skills, research shows

November 06 ,2017 | by Anisa Choudhary

Research from Innovate UK has found business owners misunderstand what investors are looking for, with soft skills being the most valued when it comes to making investments.

The report compared the views of scale-up businesses and investors. It found that 84 per cent of investors believe poor communication is a deal-breaker, compared to 46 per cent of business owners.

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UK named most attractive country to employers and staff

November 01 ,2017 | by Erin O’Neill

The UK has been named the most attractive country to employers and staff in a report from real estate company Colliers International.

The report rated Britain highly for its talent, quality of life, location and cost, with Colliers International placing the UK amongst the lowest-risk European countries to start and run a business, despite concerns over Brexit.

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