Traditional and well established banks control the majority of the market, but is the sector ready for disruption from challenger banks?
It seems like the theory is sound, as well-entrenched institutions are more often than not wracked with inefficiencies. However, with control of 77 per cent of the personal account market and 85 per cent of small business banking, the established banks won’t go down without a fight.Read more >>
The number of new tech start-ups coming out of China’s Silicon Valley rises to 49 every day.
China’s technology hub, Zhongguancun, is producing 49 new start-ups every day, according to Wan Gan, the minister of science and technology in China.
Speaking at a briefing for the National People’s Congress in Beijing, Mr Wan outlined how the region now has over 1,600 technology incubators, making it no surprise that entrepreneurs are flocking to the area.Read more >>
Plans to recruit one million women drivers by 2020 were recently announced by Uber.
The taxi app company, Uber, has revealed it plans to hire one million women drivers by 2020 in a collaborative effort with the United Nations (UN) sub group; UN Women. It would be a significant move towards gender equality and go a long way towards rectifying the negative publicity the firm has received during the last few months.Read more >>
Financial institutions seek startups to deliver cutting-edge, innovative solutions in The Future of FinTech competition from Innovate UK.
The latest competition to hit the FinTech scene comes from Innovate UK’s IC Tomorrow program and works with some of the industry’s leading financial firms. It challenges startups and small businesses to come up with commercial, creative and technical innovation that deals with any of a range of themes, such as financial literacy and compliance.
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Twitter has opened a new office in Hong Kong as it looks to expand its reach in the Chinese market.
Twitter is looking to develop closer ties with businesses in China with the launch of the social media firm’s first office in Hong Kong.
Despite currently being blocked in mainland China the company seems keen to exploit Asia’s biggest economy. Even if users cannot access the site, its physical presence in Hong Kong will enable the San Francisco-based company to tap China for potentially huge advertising revenues.Read more >>
Tech giant Apple has revealed its latest range of products - the smartwatch.
Apple’s new collection of smartwatches was brought to the public at a press event in San Francisco and immediately the internet burst into a flurry of mixed reactions.Read more >>
The UK government has sold further shares of Lloyds, raising £500m from the sale.
A further tranche of Lloyds Banking Group shares have been sold by the UK government as part of its plan to return ownership of the part-nationalised bank fully back to private investors.
The government took advantage of a recent jump in share prices to sell another one per cent of its stake for £500 million and lowering its overall ownership to 22.9 per cent.Read more >>
Prolonged low oil prices would boost employment in the UK, according to a PwC report.
The UK could experience an employment boost of 121,000 by next year if oil prices settle at $50 per barrel, says a PwC report, when compared to a scenario where prices remained around their mid-2014 highs at $108 per barrel. Furthermore, a prolonged period of low oil prices would increase overall economic activity in the UK.Read more >>
A £95,000 competition to create a healthy living app using Disney characters has been launched by the media giant.
Disney has opened up a £95,000 competition in partnership with Creative England, to find a software specialist that can come up with a new app that uses Disney’s characters to encourage healthy living. It seems the media giant is looking to take advantage of the recent trend that has seen fitness related wearable technology and apps gain popularity with consumers.Read more >>
Five of Latin America’s best hubs for starting a new online-driven small business.
The past ten years has been witness to an entrepreneurial boom in Latin America and is fast becoming a rival to counterparts in America and Europe, according to a recent press release from Dafiti.
As internet and mobile technology sweep the continent, there are a huge number of opportunities for startups, not to mention the added benefit of excellent funding programs and networking potentials.Read more >>
The British government should commence plans to introduce driverless cars to the roads, say MPs.
A variety of factors need to be considered and prepared for if the UK government wants to bring driverless cars to Britain’s roads, according to a report from the House of Commons. The main considerations will be designed to reassure the public over safety concerns.Read more >>
The new bank announced in India’s latest budget could aid lending to small businesses.
India’s most recent yearly budget announcement revealed plans to set up a new bank that will aim to lend more to the nation’s cash-starved small companies. As these micro and small businesses account for around a fifth of India’s economy, it’s a clever move from the government that could rekindle growth through the Micro Units Development Refinance Agency (MUDRA) bank.Read more >>
A weeklong gathering is coming to Ireland to showcase startup sector to over 15,000 people.
The Startup Gathering will be a national week in Ireland of over 50 events in five different cities, with the goal to promote entrepreneurship by showcasing the startup sector to more than 15,000 people. During the five day long program in October, Startup Ireland, the not for profit organisation, will lead the event in partnership with the Bank of Ireland.
With a theme of “Start, Scale, Succeed from Ireland” the initiative forms part of the Government’s Action Plan for Jobs.Read more >>
Britain is among the first countries to launch a scheme to boost SME cybersecurity.
Cybersecurity is one of the biggest challenges facing businesses but a new scheme aims to help better prepare Europe’s small and medium-sized enterprises (SMEs).
The co-ordinated cybersecurity taskforce and response (Costar) project is being piloted this year and the UK is one of the first countries to trial it.
It comes amid growing fears that Britain’s small businesses are ignoring the dangers posed by cyber crime and are not doing enough to guard against it.Read more >>
The African retail market will be dominated by e-commerce over the next few years, says report.
A recent report notes that online marketplaces could dominate the retail market in Africa within the next few years, according to reports.
Global consulting firm, Frost & Sullivan, estimated that the e-commerce market will be worth $50 billion in 2018, compared to its 2013 worth of around $8 billion. It’s no surprise then that these digital retailers are beginning to offer greater numbers of products and services to African consumers.Read more >>
Small businesses in Britain are achieving turnover and profits last seen before the financial crisis in 2008.
As UK living standards return to pre-crisis levels, small businesses are also reporting their best performance since 2008.
Britain’s small firms have increased turnover, raised profits and expanded workforces over the last 12 months, according to the latest survey from the government, with businesses forecasting this positive trend to continue in 2015.Read more >>
Nature and the environment is especially important to the British public, according to a new survey.
Nearly a third of the British public consider themselves to be very environmentally friendly, according to a recent survey commissioned by Nationwide Building Society.
It seems that nature and the environment is becoming increasingly important to residents of the UK, especially since almost two-thirds of respondents said they were willing to pay more for environmentally sustainable products.Read more >>
Money is no longer all that attracts graduates to a company, according to EY.
Salary is no longer the main attraction for graduates that are considering their employment options, according to a new survey from Ernst and Young. The poll of more than a thousand students found that salary and benefits was no longer the number one consideration for graduates, despite coming joint top in last year’s survey.Read more >>
India’s goal to produce 100 GW of solar power is easily within reach after investors pledged enough money to fund double that.
Further funding for India’s massive solar power plans has been pledged from a number of potential investors and brings within reach the nation’s goal to produce 100 gigawatts (GW) of solar energy by 2022, according to Indian energy minister, Piyush Goyal.Read more >>
UK’s Markit/CIPS manufacturing PMI data jumped to seven-month high in February.
Manufacturing activity in the UK continues to post robust growth and highlights that Britain well and truly started this year strongly, according to the latest manufacturing purchasing managers’ index from Markit/CIPS.Read more >>
Xero announces cloud accounting and payroll solution that simplifies the payroll process for small businesses.
Online accounting software company Xero has announced its new cloud accounting and payroll solution at its annual fintech conference; Xerocon.
Xero’s managing director Gary Turner says that the company will be able to do for payroll what it has already done for accounting.Read more >>
Investment in renewable energy is rising, putting the UK on track to meet its clean energy commitments.
Clean energy in the UK continues to be a hot topic, especially since the government committed to produce 15 per cent of its energy from renewable sources by 2020. Investors in renewable energy range from venture capitalists and the government, to crowdfunded initiatives like the Trillion Fund, which means there’s a lot of money being pumped into sustainable energy.Read more >>
An organisation dedicated to advancing women in business is preparing to hold its annual technology awards ceremony in London later this month.
everywoman, a globally recognised organisation which drives the development of women across all business sectors, will be honouring women’s contributions to the technology sector at its FDM everywoman in Technology Awards.Read more >>
Direct and indirect spending by the UK government topped £11 billion during 2013/14, according to a report.
The UK government’s spending on small and medium-sized enterprises (SMEs) accounted for 26.1 per cent of all purchases made by Whitehall during the 2013/14 financial year, which meant the government exceeded its goal for 25 per cent of its procurement to go through SMEs, according to the latest figures.Read more >>
Kimchi, the latest microfund, has been announced by 500 Startups and is set to launch in Seoul, South Korea.
500 Startups, the well-known US accelerator for startups, has just revealed details of its latest venture, 500 Kimchi, which will take $15 million to fund early stage startups in South Korea’s mobile space. The newest microfund from 500 Startups will deepen the firm’s reach into South Korea, which has already several investments from the company, according to the online tech magazine, TechCrunch.Read more >>