Business News Round Up (04/02/2021)
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New lockdowns edge consumer confidence to near-record lows
The final quarter of 2020 saw consumer confidence in Scotland fall by a further two percentage points, to -18%, as the country headed into the New Year under fresh lockdown restrictions. The latest Deloitte Consumer Tracker revealed that with the exception of personal finances, all other measures of confidence were below year-on-year comparisons, with ‘health and wellbeing’ and ‘children’s education and welfare’ categories reaching historic lows. The analysis is based on a nationally representative sample of more than 3,000 UK consumers – 295 of which were in Scotland – between 1 and 4 January, after a Brexit deal had been reached and as a third national lockdown was announced. The emergence of a more virulent strain of Covid-19 saw Scottish confidence around health and wellbeing fall 11% to the lowest level ever recorded at -39%.
https://www.insider.co.uk/news/new-lockdowns-edge-consumer-confidence-23436526
North West of England revealed as perfect breeding ground for tech start-ups, scale-ups and unicorns, according to new report by London Tech Week
The North West of England has been revealed as the perfect breeding ground for tech start-ups, scale-ups and unicorns. This is due to its world class tech talent, entrepreneurial spirit, feeder universities, dedicated support services, increasing number of local angels and inward investment. This is according to a new report from London Tech Week and UK Tech Cluster Group and part of the brand new 12 Clusters of Tech initiative, which is definitively mapping UK tech in its entirety for the very first time. The North West report is the fifth in the series of 12. At the other end of the scale, the region (which incorporates Manchester and Liverpool, the UKs second and seventh largest cities) is home to a thriving tech start-up community and is successfully nurturing fledgling businesses to scale. Manchester-based AccessPay, which provides a secure digital connection to over 16,000 banks and payment schemes worldwide, is one such scale up success story.
Independence would ‘hit Scottish economy 2 to 3 times harder than Brexit’ – according to new study
Independence from the UK would cost Scotland’s economy up to three times as much in lost trade as Brexit will. The combination of the two would reduce Scotland’s income per capita by between 6.3% and 8.7% in the long-run according to analysis by the London School of Economics’ Centre for Economic Performance. The economic hit from the two events is equivalent to an income loss of between £2,000 and £2,800 per person every year, economists estimate in the study Disunited Kingdom? Brexit, Trade and Scottish Independence published today. The report comes amid efforts by Nicola Sturgeon and the SNP to look to Boris Johnson, into agreeing a new independence referendum, seven years after Scotland voted to remain part of the UK. It finds that the economic costs of independence are two to three times greater than the impact of Brexit. And the report concludes that the loses from independence are similar regardless of whether an independent Scotland re-joins the EU or maintains a common economic market with the UK.
Manchester a ‘growth city’ as trends accelerate – Barings
Manchester has been hailed as a “growth city” and a “magnet”, the managing director of global investment manager Barings Real Estate has told Insider. Ian Mayhew also discussed how the pandemic has accelerated some trends in the property industry and why developers are having to “up their game”. Barings – which is behind the Landmark development – has enjoyed a busy period after striking deals with both Hana and Change Please. Grant Thornton also agreed to relocate its 350-strong Manchester team to the site. Speaking to Insider, Mayhew said the Hana deal – which will see the company design, build and operate a flexible space scheme called Hana at St Peter’s Square – is an “endorsement of the resilience of Manchester as a location and a market. There were six or seven incredible parties that we could have partnered with, so that shows there was competition for this opportunity,” he added.
https://www.insidermedia.com/news/north-west/manchester-a-growth-city-as-trends-accelerate-barings