Business News Round Up (02/11/2020)
Most SMEs believes there are financial opportunities in the move to a greener economy
The majority of small and medium-sized businesses believe there are financial opportunities in the shift to a greener economy and that they personally can benefit from them. That is the key finding of UK-wide Opinium polling commissioned for a new report by The Entrepreneurs Network and the Enterprise Trust. The findings from the report, Green Entrepreneurship, challenge the historic assumption that pursuing sustainability is a hindrance to businesses and the economy. It argues that harnessing the innovative products, ideas, and practices devised by Britain’s flourishing entrepreneurial ecosystem will be critical to overcoming the environmental challenges facing the planet, while also providing an economic boost and positioning the UK at the forefront of the green growth sectors of the near future.
https://www.insider.co.uk/news/most-smes-believes-financial-opportunities-22942152
North West confidence on the rise
North West business confidence rose during October, according to Lloyds Bank Commercial Banking. According to the bank’s latest business barometer, confidence in the region rose 11 points to -2%, the highest of any UK region, with businesses reporting higher confidence in their own business prospects up 7% month-on-month. The barometer, which questions 1,200 businesses monthly and provides early signals about UK economic trends, found 25% of businesses expected to reduce staff over the next year.
https://www.insidermedia.com/news/north-west/north-west-confidence-on-the-rise-lloydsII
525,000 jobs at risk as UK business events industry campaigns for roadmap to recovery
More than 525,000 jobs are at risk in the UK’s £84 billion events and experiences industry, with three out of four companies potentially failing to survive beyond February of next year, the government has been warned. This comes after prime minister Boris Johnson confirmed that England will enter national lockdown between 5 November and 2 December 2020. The UK business events sector is operating under tighter restrictions than in any other developed nation and the impact on around 774,000 talented, creative professionals employed in the business events industry was laid bare in research presented to ministers.
UK factory slowdown and job cuts worsen even before England lockdown
UK manufacturers have begun “losing momentum” and job losses have accelerated even before new coronavirus restrictions come into force in England. A leading survey shows makers of consumer goods saw output decline last month, blaming local lockdowns and falling demand among households as coronavirus infection rates have risen. Consumer goods firms also saw the most widespread job cuts within manufacturing, but the rate of lay-offs accelerated across the sector. Manufacturing employment levels have fallen for a ninth month in a row, and spare capacity has increased as output and new orders have slowed. New figures IHS Markit and the Chartered Institute of Procurement & Supply (CIPS) highlight the challenges facing firms, though most still reported growth in October, albeit at a slower pace than in September.
https://uk.finance.yahoo.com/news/uk-manufacturing-pmi-factory-lockdown-impact-093859437.html