Posted By LSBF Blog Staff

British Business Bank has launched a £2.5bn investment programme to help businesses have access to the finance that they need to boost the UK’s innovation economy.

The British Patient Capital programme will focus on investment in innovative businesses in the UK that have high-growth potential.

Prime Minister Theresa May has announced that technology firms are to invest more than £2bn into the UK economy, which will create 1,600 new jobs.

The announcement was made at a roundtable event, during which it was also revealed that a number of initiatives will be launched to support businesses in the UK and attract foreign tech entrepreneurs and investors.

The latest figures from the Office for National Statistics (ONS) have shown that the UK employment rate remains at a record high.

The Labour Force survey showed an increase in the number of people in work between November 2017 and January 2018 and February and April 2018, with 32.39 million people in employment.

A study from Instant Offices has shown that women and millennials have helped to boost the UK’s freelance economy over the past decade.  

Key demographics show that the number of female freelancers has increased by 55% since 2008, with new mothers contributing to the rise as they search for more flexible job roles.

An announcement has been made by two airlines – Ethiopian Airlines and Jet Airways of India – regarding the launch of new services to and from Manchester Airport UK by the end of the year.

The fact the airlines have been attracted to Manchester Airport is a coup not just for the airport, but also for the concept of the Northern Powerhouse, which aims to turn the North of England, which has a population of around 15 million, into a serious economic competitor to the South East and London.

Amazon is to create 2,500 permanent new jobs in the UK this year, which will see the total number of jobs in the country provided by the e-commerce giant rise to 27,500 by the close of 2018.

Over 650 permanent new positions are to be created in Amazon’s development centres as well as in the Amazon Web Services division, and there will be hundreds of new roles in the company’s head office, according to the company.

In two weeks, the 2018 FIFA World Cup will get underway in Russia, and according to estimates from a new report, the UK economy could be boosted by as much as £1.33bn, potentially even reaching £2.72bn if England get to the final.

With retailers and brands expecting a spending spree, UK-based digital marketplace VoucherCodes has broken down the expected consumer spending across categories in a new study, which also forecasts how much is likely to be spent at the different stages of the tournament.

A report from accountancy, tax and investment firm Smith & Williamson has shown an increase in the number of scale-up businesses in the UK.

The study, entitled Dream bigger: the scale-up moment, found that young entrepreneurs are the main driver of growth in scale-up businesses, with more than 40% of these businesses being founded by people aged 34 and under.

A report from UK financial and related professional services membership body TheCityUK and Big Four accountancy firm EY has highlighted the importance of attracting and retaining talented workers after Brexit.

The report, which was previously a draft version but has now been released in full, includes a number of recommendations to help protect London’s status as a financial centre after the UK has exited the EU, including an improved immigration system.  

Britain’s global banks are calling for a special UK visa waiver for workers after the UK exits the EU to help protect the City of London’s status as a leading financial centre.

The suggestion is one of the key recommendations in a report from UK financial and related professional services membership body TheCityUK and Big Four accountancy firm EY.