NEWS
PwC launch initiatives to help SMEs raise investment
Several initiatives have recently been launched by the Professional services and Big Four firm PwC to help SMEs raise funding and boost their growth.
The service, which is called Raise Investment, will target businesses with an annual turnover of more than £1 million that are looking to raise £1 million to £10 million in funding.
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UK business growth reaches two-year high, according to survey
A survey from the Confederation of British Industry (CBI) has shown that businesses in the UK grew at the fastest rate since December 2015 in the three months leading up to February.
The CBI’s monthly growth indicator surveyed more than 670 respondents across sectors such as business and professional services, and found that business output more than doubled to +20 last month, up from +9 in the three months leading up to January.
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The #WonderWomen Series: Celebrating the changing face of leadership in business
Every year on 8th March, the world celebrates International Women’s Day in recognition of the social, economic, cultural and political achievements of women.
This year, London School of Business and Finance (LSBF) Executive Education, GISMA Business School, and Toronto School of Management (TSoM) have launched a joint initiative. These schools will explore the changing face of business by interviewing female CEOs, leaders, and entrepreneurs to discover how they got to where they are and their ambitions for the future of gender equality.
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APSCo figures show strong demand for finance professionals
The latest figures from the Association of Professional Staffing Companies (APSCo) have shown demand for finance professionals was strong in January.
The figures, which focus on professional recruitment, showed a strong demand for permanent staff, with a 0.3 per cent rise in permanent vacancies. This follows recent figures from the Office for National Statistics, which showed employment has reached a record high of 75.3 per cent.
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Big Four firms make 25 Best Big Companies list
Two of the Big Four firms have made it into the Sunday Times’ 25 Best Big Companies to Work For 2018 list.
EY came in tenth place, up from 17th place in 2017, while Deloitte rose from 18th place to 13th place on this year’s list.
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British Business Bank shows strong alternative finance growth
Research from the British Business Bank has shown small businesses in the UK are turning to alternative sources to obtain finance.
The 2018 Small Business Finance Markets report showed growth in equity and alternative finance, with the value of SME asset finance deals increasing by 17 per cent last year and peer-to-peer business lending and SME equity deals up by 51 per cent and 12 per cent respectively.
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Over 50% of FTSE 100 CEOs are finance professionals
Figures from Global Accounting Network have shown more than half of FTSE 100 CEOs are finance professionals.
The finance recruitment agency carried out an analysis of bosses from each FTSE 100 company and found nearly a fifth have an accountancy qualification.
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Workplace relationships have a positive impact on accountants
Research from CV-Library has revealed how workplace relationships affect those working in an accountancy role.
The research surveyed 1,200 professionals and found 77 per cent of accountants believe their workplace relationships have had a positive impact on their personal life.
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Treasury urges firms to sign Women in Finance Charter
The Treasury Committee is calling for finance firms to sign up to the Women in Finance Charter to help boost gender diversity in financial services.
Treasury Committee Chair Nicky Morgan has written to more than 30 businesses in the sector, challenging them about why they have not signed the charter and whether or not they will.
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Job satisfaction higher in large accountancy firms
A report from the Association of Chartered Certified Accountants (ACCA) has shown that job satisfaction is higher in large accountancy firms, with 48 per cent of young finance professionals working in a large company saying that they are happy in their job role.
The report, entitled Generation Next: managing talent in large accountancy firms, surveyed 19,000 ACCA members and students aged 16 to 36, with particular focus on young finance professionals working for a large accountancy firm globally, such as one of the Big Four firms or a mid-tier company.
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Lloyds first FTSE 100 company to set diversity target
Lloyds Bank has recently become the first FTSE 100 company to announce a diversity target to boost the number of staff from BAME (Black, Asian and Minority Ethnic) backgrounds in senior management.
The bank will be increasing BAME employees in senior management roles from 5.6 per cent to 8 per cent as part of its 2018 Helping Britain Prosper Plan which is set to be published next week.
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Increased demand for permanent accounting and financial staff
The latest IHS Markit/REC Report on Jobs from the Recruitment & Employment Confederation (REC) has shown an increase in demand for permanent staff across a number of sectors in January.
Permanent staff placements increased at the steepest rate since April 2015 last month, while overall growth in temporary billings was sharp, despite hitting a ten-month low.
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Research calls for more wellbeing programmes for finance workers
A study from recruitment agency Robert Half UK has shown the nation’s finance workers need more access to wellbeing programmes.
According to the study, 78 per cent of chief financial officers believe stress levels in the workplace will increase by 2020, whilst 16 per cent think there will be no change.
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Finance one of best-paying sectors for contractors, study shows
Emolument.com has revealed the sectors that offer the highest-paid roles for contractors, with several finance jobs making the list.
The salary comparison website analysed compensation data from 3,694 contractors in the UK and found the majority of the best-paying roles are in sectors such as finance.
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Report shows gender diversity improvement in financial services
A report from management consulting firm McKinsey & Co has shown gender diversity in businesses in the financial services sector has improved.
The report, entitled Delivering through Diversity, surveyed 1,007 businesses across 12 countries globally to show how gender diversity has improved and how inclusion can help boost business performance.
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London business confidence highest in UK, report shows
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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Financial services firms must focus on security, says FCA
Financial services firms are being urged to focus on security after figures from the Financial Conduct Authority (FCA) showed that cyber-attacks on firms in the sector increased by more than 80 per cent in 2017.
Speaking at the PIMFA Financial Crime Conference in London, FCA Head of Technology, Resilience and Cyber Robin Jones discussed the areas in which financial services firms need to boost security, with firms being urged to place more focus on staff training and raising awareness.
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Lloyds Banking Group to help boost digital skills
Lloyds Banking Group has announced it will be helping to boost digital skills across the UK to enable adults to have easier access to work and education.
The bank has teamed up with The Tech Partnership to lead a consultation that aims to improve the way Basic Digital Skills are measured.
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Research shows high demand for specialist finance skills
Morgan McKinley’s 2018 Salary Guide has shown that demand for niche skills and specialist knowledge was strong in the accounting and finance sectors in 2017.
The recruitment consultancy’s guide also identified a number of key trends, including increases in salaries for newly qualified individuals working in finance in areas such as London.
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Regulators could help London stay competitive
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
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
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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Mastercard sets biometric challenge for banks
Mastercard has set a challenge for banking providers by requiring them to offer biometric authentication by the spring of next year.
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Fintech start-ups set to profit from new regulations
As new banking regulations come into effect in Europe this month, a number of small UK fintech companies are poised to take advantage.
The introduction of the Second Payment Services Directive (PSD2) this month has brought open banking to the UK, and financial institutions are grappling with the opportunities and challenges presented by the changes.
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Financial firms should upgrade recruitment practices, report shows
The financial services sector can do more to meet customer demand by upgrading recruitment practices, according to a report into customer satisfaction.
The survey, which was carried out by consultancy Oliver Wyman, surveyed 4,000 customers across the UK, US, France, and Australia, along with a US mass-market focus digital group of 100 customers.
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