Business News Round Up (07/04/2020)
Second Business Monitor Survey confirms severe impact of coronavirus on businesses across Greater Manchester
A second Business Monitor survey has been conducted by Greater Manchester Chambers revealing the extent of the impact of coronavirus on local businesses across the region. More than two thirds of the 100 respondents reported having no confidence about business prospects over the next three months, with only 14% having confidence in maintaining sales and turnover in the coming weeks. Nearly half of the respondents reported a reduction in their workforce in the last few weeks and 53% also expected a further reduction in their workforce in the next few days.
All non-essential construction work should stop, new Scottish Government guidance makes clear
The Scottish Government has provided clarity surrounding the guidance on social distancing for the construction industry stating that work on construction sites should stop immediately unless it is supporting crucial work. Even projects considered essential can only continue operating if they can comply with guidance on social distancing, safety and welfare during the COVID-19 outbreak, it says, with any site unable to meet these requirements to close.
Manchester set to be next UK tech hub as IT workers look beyond London
Manchester is poised to see an influx of tech talent in the next three years, according to a new report as three quarters of IT workers based in Greater London are likely to relocate for work in Manchester. CWJobs surveyed 1,000 tech workers and found Manchester was the top choice outside of London (22%) to working, with 20% also revealing they would choose to set up a tech business in the next three years, ahead of Birmingham (11%) and Edinburgh (8%).
https://www.information-age.com/manchester-uk-tech-hub-it-workers-london-123488828/
Scottish Growth Fund ploughs £800,000 into financial research firm
A Scottish data firm has revealed plans to scale its operations following investment from a private equity firm. Substantive Research has been awarded £800,0000 from the Foresight Scottish Growth Fund, a £20 million fund launched to help small and medium enterprise to boost growth in Scotland. Substantive Research has worked with over 60 of the world’s leading asset managers, providing benchmarking data, details on analyst moves and tracking new providers, with the investment helping the company accelerate its growth by investing in the team, particularly in its Scottish office, as well as expansion into the USA and Asia.
https://www.insider.co.uk/news/research-firm-bags-800000-funding-21820907