Business News Round Up (08/09/2020)
More than a fifth of the workforce in Edinburgh and Glasgow now work in digital
New data has revealed that more than a fifth of workers in Edinburgh and Glasgow are employed in digital tech, with the sector recovering in confidence and increasing recruitment levels in the wake of the pandemic. The Bright Tech Future report on jobs and skills in the tech sector revealed in Edinburgh 23% of workers are in digital, while in Glasgow it is 22%. More than 69,000 tech jobs were advertised in Edinburgh and Glasgow in 2019 and Edinburgh’s median salary for tech roles is the highest in the UK outside London at £44,938.
North West businesses confidence in their abilities to build back from Covid
63% of North West companies are confident about their resilience over the next 12 months, compared to an average of 51% nationwide, according to a BDO LLP poll released today. The monthly Rethinking the Economy survey of 500 mid-sized businesses conducted by accountancy and business advisory firm BDO LLP, revealed the strong levels of confidence in their own business success is reflected in North West companies’ view of their talent. In comparison to a national average of 68%, an overwhelming 87% of businesses in the region feel their workforce has the skill sets required to help drive the business forward post Covid-19.
Entrepreneurial drive in Scotland not hindered by the pandemic
The appetite in Scotland for starting a business has not been hindered by the impact of Covid-19, according to research by Business Gateway. While the pandemic and its impact are a concern for 80% of respondents to a survey across Scotland, two thirds (67%) of those likely to start a business were ‘seriously considering’ doing so over the next six months. This includes almost half (49%) who said they were ‘definitely’ going to do it. For the other half of respondents, the prospect of knowing where to get free advice was a motivating factor and increased the possibility they would go ahead with a new business idea.
https://www.insider.co.uk/news/entrepreneurial-drive-scotland-not-hindered-22644866
UK companies warn on mounting debt during pandemic
More than a quarter of companies forced to take on extra debt to survive the pandemic have warned they may need to cut back their operations, highlighting a mounting crisis that economists warn could hold back business recovery in the UK. More than 40% of companies took on debt during the crisis, according to a survey conducted by the British Chambers of Commerce and banking group TSB. While one in four warned over their future growth plans, about a tenth said they may cease trading altogether. The BCC and TSB poll, which surveyed more than 500 companies, also showed that many businesses will require flexible repayment solutions to rebuild revenues and avoid an unsustainable debt crisis.
https://www.ft.com/content/f7c6e1bf-f391-4943-a1f0-9c23ca251e3e