LSBF Blog - Global Matters
In a widely expected move, the Bank of England (BOE) has left interest rates unchanged at a record low for the 70th month running.
Since there was no statement, many will now turn to the minutes of the Monetary Policy Committee (MPC) meeting on December 17th to fully understand the decision.
At the previous meeting of the MPC, two members of the committee voted to raise rates due to worries over the building of inflationary pressures.Read more >>
The current SME focus is on exports, but there is little guidance for firms wanting to import for the first time.
Small and medium-sized firms are well supported in the exports arena. However, those wishing to start importing may feel left out or confused by the government literature currently available.
Before venturing headfirst into the market, you may like to consider the following important points to help you succeed.Read more >>
Space Ape hailed as London’s answer to Rovio, creator of Angry Birds.
Space Ape Games, a London-based mobile games studio has received £4.5 million of investment from investors in a third round of funding.
Following global success of their combat adventure game, Samurai Siege, the studio received further funding from investors that have previously backed successes such as Spotify and Facebook. The latest round of funding was led by Northzone but also included existing investors like Accel Partners, Initial Capital and Connect Ventures.Read more >>
Chuka Umunna, Labour’s shadow business secretary, helped bring Small Business Saturday (SBS) to the UK.
Speaking in an interview with Startups, a website aimed at entrepreneurs and small firms, Chuka Umunna detailed how he dreamt up the idea to help bring SBS to UK shores.
The event made its second annual appearance on December 6th, and is designed to promote independent retailers.Read more >>
Domestic demand boosts manufacturing activity in the UK despite weak exports to Eurozone.
Further indications of the UK’s strengthening recovery were found in Markit’s recent Purchasing Manager’s Index (PMI). It showed that manufacturing activity in the UK continued to expand, hitting a four-month high of 53.5 in November.Read more >>
Barclays has made a major online move by launching new video banking services.
The Barclays Video Banking venture is aimed to retain the personality of the retail branch, whilst allowing customers to save time and fit banking into their busy schedules.
The project is a ground-breaking, round-the-clock video service that allows customers to skip the high street trip but still speak face-to-face with advisors.Read more >>
Exporters from small to mid-sized businesses believe 2015 will bring them more international business, according to new research.
According to Open to Export, an exporter’s forum backed by the government, small and medium-sized enterprises are optimistic about opportunities overseas in 2015.
After trade data from the Office for National Statistics showed that UK recovery is not being driven by exports, initiatives like Export Week were set up to increase the amount of international trade in the UK.Read more >>
The SME sector in the UK is set to drive growth in cloud services, according to research from cloud services provider BCSG (Business Centric Services Group).
Research from Business Centric Services Group (BCSG) revealed that 72 per cent of SMEs have plans to embrace the cloud by 2017, adding to the numerous businesses that already have cloud services in use.
This indicates that businesses are realising the potential that the cloud offers in terms of time-saving and the ability to access files regardless of location.Read more >>
According to a report from Barclays Bank and the Business Growth Fund (BGF), small businesses require more government support to realise their full potential.
The latest Entrepreneurs Index from Barclays Bank and BGF highlights the need for the UK to do as much as it can to encourage SMEs, as it shows evidence that the desire to start a business is becoming more widespread across the nation.Read more >>
PwC has found that the UK’s biggest businesses will see their tax hit record levels this year.
PwC has highlighted the contribution of big business to the UK economy with new figures from their latest Total Tax Contribution survey. The survey shows that Britain’s largest companies paid the highest tax revenues ever recorded in 2014: a reminder that big businesses make a significant contribution to the UK economy.
PwC’s 100 Group, comprised of the finance directors of large companies and some multinationals operating in the UK, revealed that they have collectively paid some £80 billion this year. This is a rise of £2 billion from 2013.Read more >>
Data from Quacquarelli Symonds (QS ) shows that London is one of the world’s top cities for student recruitment.
New research from QS has shown that London has scored the maximum of 100 points in the category of employer activity in QS’ Best Student Cities 2015 report. The finding was based on global employers identifying the institutions they prefer to recruit from, indicating the strength and depth of the university sector.Read more >>
Chancellor of the Exchequer George Osborne announced a lending package worth nearly £1 billion to boost bank lending to small and medium sized enterprises.
In the Autumn Statement, George Osborne confirmed plans to provide a boost to small and medium sized enterprises (SMEs). Furthermore, numerous new tax incentives and breaks aimed at promoting smaller firms were announced.
The Treasury has promised to invest in fast growing SMEs with £400 million of Enterprise Capital Funds, which are government-backed venture capital funds. It also guaranteed that new bank lending will be increased by up to £500 million.
George Osborne, the UK chancellor, said: “Now that credit conditions for households and large businesses have improved, it is right that we focus the scheme’s firepower on small businesses, which are the lifeblood of our economy.”Read more >>
Welcome to this month’s news round-up of all the major stories that have kept us talking in November.
Figures from the ONS showed that the non-financial business economy contributes £1 trillion to the UK, when measuring approximate Gross Value Added (aGVA) at basic prices. In addition, the annual aGVA growth of 8.1 per cent was at its highest since 1997, and the service sector accounted for over half of this record figure.Read more >>
Analysts predict sales will beat Cyber Monday’s as Black Friday surpasses media hype.
According to IMRG (Interactive Media in Retail Group), sales through retailers’ websites on Black Friday amounted to a staggering £810 million – well above the forecasted £555 million. When the full data is released, stores may well find that this figure is far above Cyber Monday’s results.Read more >>
Employers must offer flexible working hours to attract the best workers.
Recent data from YouGov has highlighted that around four tenths of those surveyed would feel uncomfortable asking about flexible options.
The survey of 1,300 people showed that both men and women were equally unlikely to broach the subject, even though 37 per cent of respondents had difficulty juggling work and family life.
To maintain health in the workplace, the Confederation of British Industry (CBI) recommends that businesses should adopt new values that promote flexible working.Read more >>
Hiring intentions remain high in professional services, reports CBI.
According to the latest data from the Confederation for British Industry (CBI), employment in the business and professional sector rose at its quickest rate in seven years during the three months to November.
In total, 49 per cent of firms in these fields said they had expanded their headcounts, compared to just 7 per cent downsizing: leaving a record high balance of 42 per cent.Read more >>
Online retailers to make an impressive start to the festive shopping period.
Closely following the chaos of Black Friday comes an equally booming Cyber Monday, with analysts predicting £650 million of sales over the course of the day.
The run-up to Christmas is often the highlight of the retail year, as consumers usually go on a month-long shopping spree. This year, it is forecast to be worth around £36.5 billion; and on Cyber Monday, internet industry body IMRG has predicted that 25 million shoppers will spend up to £451,000 per minute.Read more >>
Salary growth outstrips inflation, but the number of vacancies has outpaced jobseekers for the first time since the recession.
Evidence of Britain’s booming labour market was published in the latest UK job market report from Adzuna, the online recruitment website. For the first time since the recession, the number of advertised vacancies was larger than the number of people seeking employment.
In October, Adzuna found over 930,000 jobs advertised, an increase of 3.4 per cent compared to September, and a staggering 25.1 per cent more than the amount advertised a year ago.Read more >>
Business services giant Ernst & Young (EY) has announced the launch of a new programme that will offer support to entrepreneurs with high potential.
Building on the success of their Ready, Set, Grow initiative, the firm’s redesigned programme is called Accelerating Entrepreneurs. It is intended support six entrepreneurs worldwide and help them scale their businesses upwards.
To apply, candidates need to be the owner, founder or chief executive of a private company that is two years old or more, with less than $50 million in sales over each of the last two financial years. They must also prove that they are ultimately responsible for their company’s recent successes.Read more >>
New figures from the Royal Bank of Scotland (RBS) show London is leading the UK’s continued economic improvement.
As a major business and finance hub for not only the UK but all of Europe, England’s capital plays a major role in the nation’s growth.
As the figures show from RBS’s latest Regional Growth Tracker, London is at the forefront of the economic recovery. The city grew by around 3.7 per cent in the third quarter of this year, well above the national average.Read more >>
Professional talent is in hot demand as businesses grow in confidence, APSCo finds.
The latest data from the Association of Professional Staffing Companies (APSCo) shows that there is a growing demand for professional skills, with permanent vacancies on the books of professional recruitment companies rocketing by 41 per cent.
This reflects an increasing appetite for growth within firms, as well as the results of employees seeing improvements in the job market and looking for new opportunities.Read more >>
The UK has come first in Europe in a list of the most entrepreneurial nations in the world.
The latest Global Entrepreneurialism Index (GEI) from the Global Entrepreneurship and Development Institute (GEDI) places the UK at fourth place in the global rankings, ranking it as the best country for entrepreneurs in Europe.
Start-ups and entrepreneurs are of growing importance to the UK economy, and these results from the GDI indicate that the UK is on the right track in encouraging start-ups and small businesses.Read more >>
Managing teams is about helping those teams achieve their goals, believes Kevin Mathers, Google’s UK Sales Director.
In a recent interview with London School of Business and Finance (LSBF), Google’s UK Sales Director, Kevin Mathers, revealed his belief in the idea that leadership is a quality which can be taught.
Read more >>
SMEs need better support from lenders, ACCA has found – or the finance landscape could shift considerably.
Small and medium-sized enterprises (SME) play an important role in the economy, and they’re gaining more confidence as the economy recovers. But if they are to grow, they need access to sufficient finance to support their ambitions.Read more >>
The iconic London ‘Tube’ has broken records with the busiest day in its history.
Millions of Londoners depend on the Underground to get to work, enjoy their social lives and keep customers coming back to their businesses. It’s the lifeblood of the capital. So it’s hardly surprising that anyone who has spent any time in the capital is used to seeing crowded carriages, especially in peak commuter periods.
However, Transport for London (TfL) has confirmed that last Friday (November 14th) was officially the busiest day in the history of the Tube. A total of 4.576 million journeys were made on the underground network, far surpassing the 4.544 million journeys made on the previous record day. Considering that this was August 7th, 2012 in the midst of the Olympic Games, when tourists flocked the city in even greater numbers than usual, that’s quite an achievement.Read more >>