Business News Round Up (09/03/2020)
Scottish businesses see growth grind to halt in February
Growth in Scotland’s private sector stagnated in February following a decline in output from the services sector, according to a new survey. The Royal Bank of Scotland’s Purchasing Managers’ Index (PMI), a measure of combined manufacturing a service sector output, shows a drop from 52 in January to 50.1 in February. In spite of the sharp slowing of growth to a marginal pace, companies in Scotland were overall at their most optimistic in 20 months about the prospects for increased activity in a year’s time.
https://www.scotsman.com/business/scottish-businesses-see-growth-grind-halt-february-2251757
North West business activity growth hits nine month high in February
Economic condition in the North West’s private sector improved in February as business activity rose at its fastest rate for nine months. The NatWest North West Purchasing Managers’ Index (PMI) show levels have risen to 53 in February, up from 51.7 in January, underpinned by rising service sector business activity, while decline in local manufacturing output eased. However, the survey showed employment falling for the first time in three months as firms reported reduced optimism towards the outlook.
Technology firms told to focus more on sales and scale
Scottish technology firms have been advised to place more emphasis on achieving sales and scale, rather than focusing on developing their products, according to investor Dan Halliday from Foresight Group while guest speaking at Johnston Carmichael’s first Meet the Tech Investor event. The Meet the Tech Investor event was the first in a series of sessions, Talking Tech in Dundee, being offered by Johnston Carmichael to support businesses in Dundee’s growing life sciences and technology sectors. Addressing the session Mr Halliday said: “The most attractive businesses for investment are typically in the B2B space, where they are less exposed to consumers’ disposable income. Software as a service models, which attract income through subscriptions, are especially appealing as investors like to see predictable revenue. When seeking companies to invest in we are looking for businesses that have already achieved commercial traction. We’d rather companies had attained their first sales than creating the perfect product, because the market can move on in the time spent on R&D.”
https://dailybusinessgroup.co.uk/2020/03/technology-firms-told-to-focus-more-on-sales-and-scale/
Plans revealed for huge Bolton development
Bolton Regeneration has drawn up plans for it’s £250 million regeneration of Crompton Place Shopping Centre, which include an improved retail and dining experience, pedestrian streets and public realm, grade A office space, homes and a hotel. Public consultation events and an online social media campaign detailing the £250 million project provoked an “overwhelmingly positive response”. The project is being developed by Bolton Regeneration Limited – a partnership between Beijing Construction Engineering Group International (BCEGI) and Midia.
https://www.insidermedia.com/news/north-west/plans-revealed-for-huge-bolton-development