Business News Round Up (02/12/19)
CBI: UK economy set to slow despite Brexit deal
The UK economy is expected to slow further in the next year as Brexit uncertainty weighs on industry, with gradual growth predicted providing Brexit headwinds are lifted, according to the CBI. The CBI’s economic forecast has predicted modest GDP growth of 1.3% in the current year, followed by 1.2% in 2020, increasing to 1.8% in 2021.
https://www.cityam.com/cbi-uk-economy-set-to-slow-despite-brexit-deal/
Edinburgh tech sector outperforming UK average, report suggests
Employment growth across Edinburgh’s fast-growing technology sector will outstrip that seen across the wider UK over the next decade, according to a new report. Knight Frank’s Future of Our Cities report expects to see a dramatic rise in the number of jobs in the technology, media and telecommunications sectors, increasing by as much as 21% by 2030, compared to an average of 6% among other UK cities.
https://digit.fyi/edinburgh-tech-sector-outperforming-uk-average-knight-frank/
UK manufacturers cut jobs at fastest rate since 2012 – PMI
Activity in the UK manufacturing sector shrank in November as political uncertainty undermined confidence. The HIS Markit/CIPS manufacturing Purchasing Managers’ Index (PMI) fell to 48.9 in November from 49.6 in October, causing bosses to cut jobs at the fastest pace in over seven years.
Business finance ‘pioneer’ launches today following £10m fundraise
Uncapped, a London/Warsaw based revenue based financing start-up, has launched after raising £10 million in funds from Global Founders Capital, White Star Capital and Seedcamp. Uncapped aim to provide a revenue-based finance model, enabling founders to access working capital between £10,000 and £1 million for a flat fee of 6%, which is being pitched as a smart alternative for growing companies that don’t want to give away equity in return for capital to help grow.