NEWS - BUSINESS & ECONOMY
Businesses led by migrants are helping to boost the UK economy, according to a report by the Institute of Directors (IoD) and mi-hub, which provides co-working space specifically for migrant entrepreneurs.
The report, entitled Migrant Entrepreneurship in the UK: celebrating the benefits to Britain, showed that migrants are making a valuable contribution to the UK, helping to create jobs rather than taking them.Read more >>
First Minister of Scotland, Nicola Sturgeon, has revealed plans for a £500 million fund to help Scotland’s businesses over the next year.
The Scottish Growth Scheme package is designed to help the country’s small and medium-sized businesses to grow.Read more >>
In the Sustainable Cities report by Arcadis, Leeds was named Britain’s best city for work-life balance.
The report compared different cities around the world, measuring factors such as work-life balance, income inequality, health, education, crime and affordability.Read more >>
The number of full-time jobs increased in August following a slump in June and July, according to a report by Markit and the Recruitment and Employment Confederation (REC).
The report also showed an increase in starting salaries, a result of employers trying to attract workers who are reluctant to change jobs in the current climate.Read more >>
Business in the Community’s Age at Work Leadership Team is urging employers to recruit older workers.
The Leadership Team, which consists of leading companies such as Aviva, Barclays and Boots, and the Department for Work and Pensions, stated that older workers are vital to the future of the UK’s economy.Read more >>
An online business training platform has been launched for micro-businesses after research showed that companies are failing basic online health checks as a result of a lack of training.
The study, which was commissioned by 123 Reg, revealed that whilst 70 per cent of micro-businesses believe that digital skills are critical to the success of their business, over 85 per cent of micro-businesses in the UK lack basic digital skills.Read more >>
More businesses are embracing drone technology, with over 500,000 people in Britain already using drones for commercial purposes, according to research from DronesDirect.co.uk.
The research showed that companies across a wide range of sectors are adopting drone technology, with media companies being found to be the biggest users at 63 per cent.Read more >>
China’s investment in business and infrastructure in the UK is up by 500 per cent in six years, according to analysis from financial markets platform Dealogic.
Figures showed that companies from China have spent a total of £3.8 billion on mergers and acquisitions this year, up from £2.1 billion last year and a 470 per cent rise on the £666 million spent in 2010.Read more >>
More businesses are choosing to locate themselves in city centres, with 76,000 more jobs being created since 1998, according to research from The Centre For Cities.
The think tank found that infrastructure, number of potential employees and proximity to other companies is attracting more businesses to cities.Read more >>
Figures released this week show that house prices rose considerably in the year to June, despite the uncertainty surrounding Brexit and concerns of an impending crash.
The statistics showed that the average UK house price had risen 8.7 per cent when compared to the same month last year - a rise which is almost four times the average annual rise in wages.Read more >>
Despite the dire warnings of economic downturn that followed Brexit, the UK mining industry appears to be growing, according to recent data.
The value of seven UK mining companies has doubled since the end of 2015. One company, Anglo American, illustrates the turnaround well. Last year Anglo American was on the verge of dropping off the FTSE 100, but the “dramatic turnaround in the industry” in recent months has seen the diversified mining group recover significantly.Read more >>
HMRC has announced that Gift Aid rules will be changed to give more flexibility to charity donors using online platforms and text messaging.
The new rules will make it easier for charities to comply with the rules and gives intermediaries a more significant role in providing Gift Aid.Read more >>
Scottish law firm Harper Macleod has signed a three-year partnership deal with business accelerator Entrepreneurial Spark.
The firm will support around 700 entrepreneurs by helping them understand the legal processes involved in setting up, running, and scaling an entrepreneurial venture.Read more >>
UK salaries have increased by 3 per cent in July compared to last year, according to data from job site CV-Library.
The research identified the key areas for salary growth and also the locations and sectors with the highest increases.Read more >>
Businesses that are set up outside London have a higher chance of survival than those in the city, according to research from eBay UK.
The research, which was based on figures from the Office of National Statistics, identified the areas in the UK with the highest survival rates for start-ups.Read more >>
A £344 million scheme to expand London City Airport has been approved by ministers, who say that the growth plans will help to boost the economy.
The plans, which include an extended terminal, aircraft taxiway and upgraded public transport links, were given the go ahead by Transport Secretary Chris Grayling and Communities and Local Government Secretary Sajid Javid.Read more >>
The British Business Bank invested £527 million into the UK’s small businesses from 2015 to 2016, according to its annual performance review.
The government-owned bank increased finance to small companies by 45 per cent in 2015 and now works with 90 finance partners to support over 48,000 businesses. The bank revealed that it took on nine new partners from 2015 to 2016.Read more >>
Santander Group’s London-based fintech venture capital fund, Santander InnoVentures, is to invest £75 million in the UK’s fintech community.
Santander InnoVentures was first launched in 2014 and is part of Santander’s innovation agenda, which aims to support early-stage fintech companies and help them to grow.Read more >>
The number of people in work in the UK reached a record high in the months leading up to May, data from the Office for National Statistics (ONS) has shown.
The UK employment rate reached 74.4 per cent, with over 30 million people in work in the three months leading up to May, up by 176,000 on the previous quarter.Read more >>
More corporates are interested in collaborating with start-up businesses, according to a report from accelerator programme MassChallenge.
The report, titled The State of Startup/Corporate Collaboration 2016, surveyed over 200 start-ups and over 100 corporates from across Europe. It found that there is a “fundamental mindset shift” in relationships between start-up businesses and corporations.Read more >>
Skills shortages are holding back businesses, with over two-thirds of businesses not feeling confident about filling high-skilled jobs in the future, according to this year’s CBI/Pearson Education and Skills survey.
The survey highlighted the areas in which there is a skills shortage, with sectors such as construction, manufacturing and professional services being affected.Read more >>
Cyberattacks cost UK companies £34.1 billion in the past year, according to a study commissioned by internet services provider Beaming.
The research revealed the most serious cybersecurity threats to businesses, with managing malware costing £7.5 billion last year and data incidents costing £6.2 billion, compared with the financial impact of burglary, which cost £5.8 billion over the same period.Read more >>
A record number of companies are being set up every hour, says StartUp Britain's research.
Their research showed that 342,927 new companies registered with Companies House this year between January and June. This means 80 companies are being set up each hour, already beating last year’s record pace of 70 new company registrations per hour.Read more >>
Rural areas have higher self-employment rates than urban areas, according to Chair of the Rural Economy Committee, Julie Kapsalis.
A report by Coast to Capital Local Enterprise Partnership showed how important the rural economy is to the growth and prosperity of South East England, with over 22% of businesses located in the area.Read more >>
Small business owners are struggling with their work-life balance, according to a survey by Zurich.
The survey found that just 43 per cent of businesses have a holiday of no more than five days booked within the next 12 months, whilst some will take no holiday at all as a result of work responsibilities.Read more >>