Business News Round Up (04/02/2020)
Businesses borrowing falls in December but increases year-on-year
New data released by the Bank of England show that growth in SME borrowing fell to 0.8% during December. Comparing month-on-month Bank of England Money and Credit statistics growth in business lending in November was at 1%, which fell to 0.8% in December. However, comparing year-on-year data, business lending to SMEs has risen in the last 12 months, increasing from -0.1% in December 2018.
Scotland revealed as top area in UK for female entrepreneurs
Scotland has the highest level of female entrepreneurs in the UK, according to a new survey by tech firm UENI. UENI surveyed 22,257 businesses throughout the UK and found that Scotland was the region with highest number of businesses launched by female entrepreneurs. UNEI also found that of the 22,257 businesses surveyed throughout the UK, less than a third (7,205) were launched by female entrepreneurs.
https://www.insider.co.uk/news/scotland-revealed-top-area-uk-21423336
Total value of private equity deals in North West surges to £5bn in last 12 months
Private equity activity in the North West increased in the last 12 months, as the combined value of transactions reached £5 billion, according to new research. KPMG’s latest study of North West private equity transactions revealed that 68 deals were completed in 2019 at mid-market level, marginally higher than the previous 12 months (66). However, the aggregate deal value in the North West soared by 23% to £5 billion, up from £4.1 billion.
Glasgow tech group pledges 33 high value jobs after £2m AI grant
Encompass, a Glasgow based regulatory technology business, has received a £2 million research and development grant to develop an artificial intelligence (AI) platform to help reduce risk for its financial services clients. The Glasgow based business has pledged to create up to 33 high value jobs after receiving the grant from Scottish Enterprise.