LSBF Blog - Global Matters
Apprentices across the UK are set to see their pay boosted by a fifth this October.
The 20 per cent increase on apprentice pay packets has been announced following the rise in the national minimum wage, with the British government exceeding the recommendations for apprentice pay from the Low Pay Commission (LPC).
The LPC suggested a 7p increase in the hourly rate for apprentices, which applies to those aged 16 to 18 and those that are aged 19 or over and in their first year. However, the government has managed to secure an increase of 57p an hour in the trainee rate.Read more >>
The number of job vacancies in the City of London is almost double the amount of people seeking employment there, according to recruiter, Robert Walters.
Robert Walters claims that London’s financial district has more jobs available than candidates to fill the positions. The recruiter noted that the shortage of jobseekers could prevent finance firms from achieving their full growth potential unless more workers are encouraged to change jobs.Read more >>
Recent research has shown that the London startup scene is likely to grow to record levels in 2015.
A combination of research from Startup Britain has highlighted that UK startups enjoyed a record-breaking year in 2014, particularly in the London tech sector, which bodes well for their performance in 2015.
Startup Britain, run by the Centre for Entrepreneurs think tank, found that 581,173 businesses were registered with Companies House in 2014, which easily surpassed the previous record of 526,446 in 2013. Furthermore, nearly a third (32 per cent) of these businesses were set up in London, illustrating the importance of the UK capital as a hub for entrepreneurial activity.Read more >>
Experts from the EU and UK head to India on a mission to give green guidance to SMEs.
Green initiatives will be introduced to India following a project with backing from the UK’s Aston University and Kolkata’s Jadavpur University.
The project will bring experts from the UK and the EU to India to bring their expertise and knowledge of best practices in the supply and value chain.Read more >>
Study finds business performance is linked to the number of women on the board.
The number of women on the board of a company can be correlated with business performance, according to a recent study. The report, Diversity Matters: Adding Colour to Boards in APAC, found that businesses with at least a tenth of board positions taken by women see, on average, a 3.6 per cent higher return on equity (ROE).Read more >>
A list released by the Centre for Entrepreneurs has highlighted the UK’s fastest growing women-led companies.
The Centre for Entrepreneurs report states that Britain is “without a doubt” one of the world’s best countries for women in business. Their recent Fortuna 50 index aims to draw attention to the quality of British businesses that are run by women.Read more >>
Britain’s economic recovery continues to flourish, according to new economic forecasts from the British Chambers of Commerce (BCC) and the National Institute of Economic and Social Research (NIESR).
Both forecasts indicate that the UK’s economy is rebounding from a disappointing fourth quarter in 2014. This news will be welcomed by the Chancellor ahead of this year’s budget announcement next week.Read more >>
What are the three top expectations that UK SMEs will be looking for after the results of the general election?
Ahead of the election, promises are already being made as political parties attempt to secure the support of small and medium-sized enterprises (SMEs) and the 50 per cent of the private sector that they employ.
The main difference in this year’s general election is that this time round, the UK’s small business community knows what it wants and has voiced its expectations for what the new government should bring.
So what is it that they will be looking for?Read more >>
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.
Read more >>
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 >>
In this interview, LSBF speaks with Jill McDonald, McDonald's UK CEO, who discusses some of the main challenges and achievements of the global restaurant chain.
Ms McDonald was appointed chief executive for McDonald's UK operations in 2010. Since then, the brand has seen a growth in sales and profitability and, more importantly, an increase in trust of the brand and its products.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 >>