Business News Round Up (07/02/2025)
NW private equity investment up 41% in 2024 as economic climate stabilises
Total private equity investment in the North West increased significantly in 2024, according to the latest UK Private Equity Review from KPMG UK. The annual study found that investment in the region grew by 41% in 2024, totalling £20bn. The findings reflect a period in which the UK experienced a more stable economic climate, with interest rates and inflation falling, greater political certainty following elections, and a surge in transactions ahead of anticipated changes to Capital Gains Tax. The volume of deals in the region increased from 165 to 203 year-on-year as volumes returned to 2022 levels. Encouragingly, the overall level of investment increased by 71% compared with 2022. Investment in the North West accounted for 12.5% of all new PE backing in the UK, and was the most active region outside London, which continued to deliver the greatest interest from PE funds, attracting £78.1bn of investment.
Private equity interest in Scotland up a third in 2024
Total private equity investment in Scotland increased in 2024, according to the latest UK Private Equity Review from KPMG UK. The annual study into private equity deal activity found that investment in the country grew by more than a third (35.6%) in 2024, totalling £9.4 billion. The findings reflect a period in which the UK experienced a more stable economic climate, with interest rates and inflation falling; greater political certainty following elections; and a surge in transactions ahead of anticipated changes to Capital Gains Tax. The volume of private equity deals in Scotland increased from 92 to 111 year-on-year. Investment in Scotland accounted for 5.9% of total new PE backing in the UK. London continued to deliver the greatest interest from PE funds, attracting £78.1 billion of investment, ahead of the North West (£20.0 billion) and the South East (£15.8 billion).
https://www.digit.fyi/private-equity-interest-in-scotland-up-a-third-in-2024
Scottish Government’s ‘Techscaler’ programme helps founders raise £66 million in past year
Tech startups on a Scottish government business startup scheme have raised £66 million in public and private investment over the course of the last year, according to new figures. The number of companies enrolled on the flagship Techscaler programme – run by the tech ecosystem builder CodeBase – have also nearly doubled in the last 12 months, according to the scheme’s annual report released today. New figures show firms on the scheme jumped from 502 to 978, while individual entrepreneurs more than doubled from 610 to 1,411. They were able to access benefits including mentoring, training and introductions to potential investors and customers. The £66 million figure is an increase on last year’s £52 million, representing growth of 26.92 per cent in investment terms from the previous year, meaning a combined sum of £118 million has been raised in two years.
Two thirds of councils considering visitor levies
Two thirds of local authorities in Scotland are considering introducing a Visitor Levy, following confirmation of the country’s first scheme in Edinburgh. Data compiled by the Federation of Small Businesses (FSB) in Scotland shows 21 out of 32 Scottish local authorities have been either discussing the idea or are actively pursuing plans to introduce a tourist tax. Earlier this week, a report to Falkirk Council’s executive stated that adding a 5% levy on to tourist accommodation would help to pay for services that they are likely to use. According to the report, Falkirk now attracts more than 800,000 unique visitors, with around 500,000 of those staying in accommodation overnight in the area – contributing to a visitor economy that is now worth about £150m.
https://www.insider.co.uk/news/two-thirds-scottish-councils-considering-34626713