Business News Round Up (06/01/2023)
Fewer Christmas shoppers as pressures mount
Shopping footfall in Scotland remains well below pre-pandemic levels as cost of living pressures, rail strikes, and wet weather contributed to a 9.9% fall in December on the same month in 2019. That was worse than the UK average drop of 7.3% and Scotland was in ninth out of of the 13 UK nations and regions covered by the latest research. Shopping Centre footfall in Scotland declined by 12.7% in December compared to the pre-pandemic period. However, footfall in Glasgow (down 7.9%), and Edinburgh (down 5.1%,) performed better than the Scottish average. Unsurprisingly, December saw the best monthly performance of 2022 and recorded the biggest monthly improvement in store visits since Covid-era restrictions were scrapped in March. Postal strikes meant some shoppers headed to high streets as they could not be sure of receiving parcels online. The data provided by the Scottish Retail Consortium (SRC) and Sensormatic said total footfall in December was up 27.8% on 2021 when restrictions still applied.
Sunak outlines vision for Britain and pledges to halve inflation and grow economy this year
Prime minister Rishi Sunak yesterday (4 January) outlined his vision for Britain in his first landmark speech since entering Downing Street in October. Against a backdrop of industrial action and forecasts that the UK will enter an economic recession this year, Sunak promised to deliver “peace of mind” to the UK public. His speech, made at Plexal workspace in east London, included five main pledges: To “halve inflation this year”; To grow the economy, “creating better-paid jobs and opportunity right across the country”; To ensure national debt is falling in order to “secure the future of public services”; To reduce NHS waiting lists so that people get the “care they need more quickly”; Address illegal immigration by passing “new laws to stop small boats” crossing the Channel to the UK. He called the five pledges the “people’s priorities” and spoke about the importance of “good jobs giving people pride in their lives. We can reverse the creeping acceptance of a narrative of decline,” Sunak said, as he called on the country to “reject pessimism and fatalism” and to “refuse limits on our aspirations”. Speaking only briefly about Brexit, he said that he would ensure that the UK uses its position outside of the bloc to ensure the country’s regulatory system is “pro-innovation”. He also spoke about investment in R&D and the importance of enhancing the UK’s “world leading strengths” in areas such as AI and green technology.
Modern refurbishment of city centre offices continues to attract businesses
THE continuing trend for high-quality refurbishment of historic city centre office space has proved attractive to prospective tenants in Glasgow, with Avison Young completing two office deals within two weeks at Topland’s 144 West George Street. Behind the heritage façade is premium specification, open-plan, office space, which places a key focus on sustainability. New Eco boilers have been fitted with heat exchangers which will improve efficiency, reduce gas usage, and save on running costs, with green contracts on all common parts electricity. End of journey facilities have been upgraded with the basement providing a secure bike store, as well as communal showers on the ground floor, encouraging occupiers to use fewer polluting modes of transport to commute. The first lease is the second-floor suite extending to 4,084 sq ft, to environmental consultancy firm Environmental Resources Management (ERM). The firm is an existing tenant within the building, which is expanding following a recent merger and will take occupation on a new 7-year lease in the first quarter of 2023. In addition, the fourth floor has been let following completion of a comprehensive refurbishment which generated a strong level of interest. Glasgow-based architectural practice, Convery Prenty Shields, has taken the space extending to 4,080 sq ft on a new 10-year lease.
£450,000 available for businesses to try 5G in the Tay cities region
The Tay5G Challenge Fund has been launched, offering grants worth £450,000 to support organisations trialling products and services using 5G networks. Applicants can be from anywhere in the UK, but projects must impact or take place in the Tay Cities Region. Tay5G is a programme established by the Tay Cities Deal to help businesses, individuals, the public sector and the third sector to engage with the next-generation mobile internet networks. The Tay5G Challenge Fund is funded by the Scottish Government, with partners including the Scottish Futures Trust, the Scotland 5G Centre, Dundee City Council, Angus Council, Fife Council, Perth & Kinross Council and Abertay University. The goal is to trial 5G mobile communications with use cases for all kinds of sectors from entertainment to manufacturing, healthcare to construction and fashion to automated transport. 5G networks are especially useful in enabling advanced communications such as virtual reality, automation, and the Internet of Things – a key tool for developing ‘smart cities’. The funding is available to support up to six applicants who can demonstrate impactful projects for products, services or solutions which use 5G networks. Applicants from across the UK are eligible to apply, but must have a Scottish organisation within its consortium. Dundee City Council city development convener Mark Flynn said: “The Tay5G Challenge Fund has been designed to help the Tay City Region growth sectors embrace 5G networks and enhance their business by optimising processes, increasing capability through to enabling new products and services.”
https://www.insider.co.uk/news/450000-available-businesses-try-5g-28887845