Business News Round Up (02/03/2020)
North West set for £389M UK-US deal boost – government
The North West economy could expand up to £389 million as a result of a future UK-US free trade agreement, according to new government analysis. The objectives of the free trade agreement state that it must protect the NHS and uphold the UK’s standards on food safety and animal welfare. The agreement will also include a chapter on digital trade, to maximise opportunities for businesses to trade digitally across the Atlantic. The US is the North West’s largest export market, accounting for 13% of all the North West’s goods exports.
https://www.insidermedia.com/news/north-west/north-west-set-for-389m-uk-us-deal-boost-government
Self-employment boom fuels £17bn UK ‘shed’ economy
Entrepreneurs and sole traders operating businesses from garden sheds contribute almost £17 billion to the UK economy, according to new research released by digital bank Starling. The study suggests that 104,000 entrepreneurs and sole traders run operations from garden outbuildings. It reported that 29% of micro-business owners and sole traders said they used their shed as an office at least occasionally, while 1.85% were exclusively run from sheds. Starling said this equated to an annual revenue of £16.64bn. Almost one in three sole traders and micro-business owners in Scotland work from premises in their garden, either occasionally, regularly or full time.
https://www.scotsman.com/business/self-employment-boom-fuels-ps17bn-uk-shed-economy-2004322
Investment initiative aims to attract more funding for North West ventures
An investment network aiming to increase the amount of finance available to entrepreneurs across the Liverpool City Region is looking for investors from the North West to support its plans. Minerva Business Angels, part of the University of Warwick Science Park Ltd, is joining forces with Activate, Liverpool John Moores University and Sci-Tech Daresbury. The partnership wants to substantially increase the amount of money available in the region by attracting successful entrepreneurs and investors to its network and making them more aware of the wealth of investment opportunities.
Two innovative Scottish start-ups recognised at KPMG’s Best British Tech Pioneer competition
Scottish tech companies Intelligent Growth Solutions and ClinSpec Dx have received special recognition for their innovation, market potential and passion for growth at the KPMG Best Tech Pioneer competition. In total six businesses across the UK were shortlisted, with VividQ winning the overall competition. All finalists will receive mentoring support and access to KPMG’s global network of tech ambassadors and investors to help them develop their products and business models.