NEWS - BUSINESS & ECONOMY
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.
Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
London is a top location for entrepreneurs and business executives, with more than 60 per cent saying they would choose to base their business in the city, according to research from London Executive Offices (LEO).
The research also found that 57 per cent of UK entrepreneurs and business executives believe start-up businesses that are based in London have the best chance of success with an annual growth of 20 per cent.Read more >>
Alternative banking app Revolut has signed up 16,000 companies across the UK and Europe to its Revolut for Business platform since its launch earlier this year.
The service has enabled companies sign up for multi-currency accounts and make money transfers in 26 currencies to make payments to overseas employees or suppliers.Read more >>
Research from Santander Corporate & Commercial has shown SMEs need more access to finance.
The research found that around 50 per cent of high-growth SME owners in the UK have been unable to expand their business as a result of problems with accessing finance. This is compared to 36 per cent of businesses as a whole.Read more >>
London will continue to be the world’s leading financial technology hub, according to research from rating agency Early Metrics.
The research assessed 1,500 FinTech companies across Europe and found London remains the top spot for FinTech. This is despite the challenges and uncertainty faced by executives in the industry over Brexit.Read more >>
Payment solutions company First Payment Merchant Services (FPMS) has launched a new funding solution for small businesses.
The Smart Business Funding solution will provide small businesses that are unable to access funding from traditional banks with financial support. This is in the face of challenges such as Brexit and technology-driven shake-ups in the banking industry.Read more >>
Research from financial services company Aldermore has revealed the best time for people in the UK to start a business.
The research found that spring is the best season for launching a business, with 88 per cent of SMEs (representing more than 4.8 million companies in the UK) that have done so during this period experiencing success.Read more >>
A report from Oxford Economics has found that 110,000 new jobs have been created in East London since the 2012 Olympics, with Hackney, Newham, and Tower Hamlets seeing the highest growth.
According to the research, Tower Hamlets has seen the highest increase in jobs since 2012, with 50,000 new jobs being created.Read more >>
London has outperformed its rival financial centres when it comes to the cost of locating 100 staff. The city is 25 per cent cheaper than New York, according to estate agency Knight Frank.
The 2018 Global Cities report compared the cost of locating staff in top global cities and estimated that the total average cost of employing 100 members of staff in conventional office space in London is $5,228,140 per year, compared to $6,938,000 in New York.Read more >>