Business News Round Up (02/07/2021)
Scotland’s economic development agency kicks off Covid e-commerce series
Companies in Scotland looking to benefit from the global e-commerce boom caused by Covid-19 have been urged to register for a unique series of digital events organised by Scottish Enterprise. Scotland’s national economic development agency will host its international e-commerce summer series programme, which will provide expert guidance to firms aiming to sell online to international customers. The free programme, which launches on Tuesday (6 July), will consist of four, weekly webinars specifically designed for businesses with ambitions to sell their products and services direct to consumers. Scottish Development International (SDI) specialists will provide advice on developing an e-commerce strategy, guidance on choosing the correct platform to boost international sales and support on how to sell globally via established online marketplaces. Lockdowns, international travel restrictions and changes in consumer behaviour caused by Covid-19 has resulted in an exponential rise in firms trading online. It is predicted that this year, more than 2.14 billion people worldwide will buy goods and services online, up from 1.66 billion global digital buyers in 2016.
Glasgow marks investment milestone of UK government scheme that aims to de-centralise decisions
Glasgow and the surrounding areas have benefited from more than a quarter of a billion pounds of investment since the creation of a new fund that aims to shift control of decisions away from central government. City Deals were enacted by the UK government in 2012 to promote economic growth and infrastructure and Glasgow’s is the largest, taking in areas including Lanarkshire and Renfrewshire. Figures show £263 million of the £1.13 billion infrastructure fund has been invested in that time with local companies benefitting from more than £116 million in contracts. Over 20 years the deal will deliver 21 major infrastructure projects, covering the entire region with a focus on regenerating and revitalising areas with forward-thinking designs that are both sustainable and adaptable to the challenges of climate change.
‘Buoyant’ UK job market had 200,000 new advertisements last week
Almost 200,000 new UK job advertisements were posted in the last week of June, according to the Recruitment and Employment Confederation (REC).The REC said demand for staff is now “buoyant” across the UK as the country’s post-Covid economic recovery picks up steam. There are now a little more than 1.5m job vacancies across the country, with jobs in the education and other skilled sectors in high demand. Seven of the 10 areas with the highest growing number of job vacancies are in London. REC chief executive Neil Carberry said: “Rising job adverts for roles that require key skills to get hired – from IT to haulage – highlight the ongoing need to put the skills and job search support people need in place. Tackling this mis-match, in the context of a tightening labour market, should be a priority for government and businesses, working together.”
Scottish investment market starts its recovery as transaction volumes increase by 71%
The Scottish investment market has seen an increase in transaction volumes during the second quarter by 71% from the first quarter, according to a Lismore’s quarterly review. Edinburgh-based property firm Lismore predicted “positive times ahead” for the Scottish investment market as it starts recovery from pandemic. The firm reported that the investment market saw around £300m being traded, although, it did note that activity remained 30% below the five-year average due to the pandemic. It has predicted that the second half of the year will be more positive, with around three transactions worth more than £50m understood to be in the works. The review indicated that prime logistic yields are continuing to harden at 4.50%. The yield from prime offices in Edinburgh are expected to increase before the end of the year, due to the limited stock and occupational demand. In the value-add sector, offices capable of re-positioning, first generation retail warehousing with underlying industrial or residential potential are in demand, albeit the market remains relatively tight for these kinds of deals.
https://www.insider.co.uk/news/scottish-investment-market-starts-recovery-24443164