Business News Round Up (03/12/19)
UK R&D spending too focused on south and below target
Spending on research and development in the UK is below the global average and is too concentrated on the South and South-East of England, according to a new report. The ‘Don’t Wait, Innovate’ report revealed the UK currently spends 1.7% of GDP on R&D compared to the target of 2.4% which is the OECD average and the longer term aim of 3%.
Just three regions account for 52% of UK R&D spend (London, South East & East of England) and just five of the UK’s 40 sub-regions are investing more than 3% of GDP. A greater focus on accelerating R&D investment in the worst performing regions could provide a £7.3bn boost to UK R&D spend, bringing the 2.4% target for R&D spend within grasp.
https://dailybusinessgroup.co.uk/2019/12/uk-rd-spending-too-focused-on-south-and-below-target/
Vision of indoor music arena for Edinburgh is revealed
Plans for an 8,000 capacity indoor concert venue for Edinburgh have been unveiled. NEC Group has teamed up with Lothian Leisure Development Ltd (LLD) to deliver the project. It will be built on a 30-acre site with conference, retail and leisure space, a cinema and two hotels, as well as the arena itself.
https://www.insider.co.uk/news/vision-indoor-music-arena-edinburgh-21011080
Promotional industry firm set for £176M market cap
A Manchester-based provider of products, services and technology to the promotional industry has successfully priced its IPO, with its market capitalisation expected to be about £176m. The Pebble Group – which is made up of Brand Addition and Facilisgroup – is raising proceeds of approximately £79 million to primarily be used to repay its existing debt facilities in full as well as settling outstanding debt arising from the acquisition of Facilisgroup.
https://www.insidermedia.com/news/north-west/promotional-industry-firm-set-for-176m-market-cap
Social enterprise celebrates 15 years of lending with £70m millstone
The Business Enterprise Fund, which specialises in providing financial support to start-up businesses and SMEs across the Northern regions of England, is celebrating 15 years of supporting businesses having reached a milestone lending figure of £70 million.