Business News Round Up (04/07/2024)
UK business owners want easing of EU trade barriers and cuts to VAT from next Government, shows survey
The policy business owners would most like to see introduced by the next Government is the easing of trade barriers with the European Union, shows a new survey Moore UK. Moore UK’s survey shows that 39% of business owners want to see less friction in EU trade, the highest percentage of any option. The survey also reveals that 38% of respondents who would like the new Government to cut VAT and 33% who said they would like to see a cut in corporation tax. Matt Meadows, Chair of Moore UK, says that many businesses are still struggling with trade barriers following the UK leaving the EU. This has led to higher costs for those that rely on trade with EU customers, while others have ceased trading with the EU. The next most popular policies were a cut in income tax (33%) and cuts to regulations and ‘red tape’ (32%).
‘Significant challenges’ for Glasgow as footfall drops by 400,000
Glasgow city centre needs “fresh life” a business body has warned, as a new report showed a decline of more than 400,000 visitors compared with last year. Glasgow Chamber of Commerce said revitalising the city should be a “top economic priority.” There were 410,000 fewer visitors in May compared with the same month last year, while in April there was a sales decrease of 12.3%, the equivalent of £60m. A spokesman for the city council said Glasgow faced “significant challenges” but the council was working to create a “more attractive environment” for businesses and shoppers. City centres across the country have been affected by a number of factors, including the cost-of-living crisis and the continued popularity of online shopping. However, feedback from businesses in the new report cited additional problems with “cleansing, maintenance & hygiene” throughout Glasgow.
https://www.bbc.co.uk/news/articles/c4ngw4e1xv8o
UK businesses face new cyber attacks every 44 seconds in Q2 2024
Analysis from Beaming shows UK businesses encountering over 180,000 cyber-attacks each in just three months, underlining the importance of comprehensive cybersecurity protocols. UK businesses encountered a new cyber-attack online every 44 seconds in the second quarter of 2024, according to analysis from Beaming, an internet service provider for businesses. Although most online attacks were detected and blocked at a network level or by company firewalls, there were 5% more this year than in the same period of 2023, with companies connected to the internet encountering 180,714 attacks each, on average, between April and June. The elevated levels of cyber-attack activity experienced in the second quarter of 2024 extend a prolonged period of malicious online activity. The final three months of 2023 were the worst period ever for cyber-attacks on UK businesses, with companies encountering a new attempt to breach their systems online every 40 seconds, on average.
https://www.digit.fyi/uk-businesses-face-new-cyber-attacks-every-44-seconds-in-q2-2024/
Birmingham set for £4.5m Centre City innovation hub
Bruntwood SciTech, the UK’s largest property provider to the science, technology and innovation sectors, has officially begun work on its ambitious £4.5 million redevelopment of Centre City in Birmingham. The landmark 210,000 sq ft building, originally constructed in the 1960s in Birmingham’s vibrant theatre district, is set to undergo a transformative revival to become the city’s new central hub for innovation-led businesses. The redevelopment will see Centre City provide cutting-edge workspace and advanced wellness facilities. It represents a unique opportunity for businesses to scale and grow in a prime city centre location, within touching distance of New Street Station. With construction now underway, work on the redeveloped Centre City is set to be completed in January 2025, with the new look workspace likely to take on a new name to reflect its transformation.
https://businesscloud.co.uk/news/birmingham-set-for-4-5m-centre-city-innovation-hub/