Business News Round Up (09/04/2020)
Business crisis proves we are taking right action against coronavirus, says Fraser of Allander
The latest Addleshaw Goddard Scottish Business Monitor from Fraser of Allander Institute has claimed the sharp downturn in Scotland’s economy and widespread shutdown of business is a necessary investment in the future of the economy. The Scottish Business Monitor, a survey of 500 businesses, provides an insight into companies’ survival prospects and preparations to rebuild. It found 51% of businesses had reduced staff because of the pandemic, with 81% reducing the number of hours staff are working. The pandemic has caused a sharp reversal in wage expectations. On average, the number expecting wages to rise has fallen from 72% in Q4 2019 to 27% in the current quarter.
https://www.insider.co.uk/news/business-crisis-proves-taking-right-21837406
Number of new jobs in North West slumps to lowest level in 11 years
The number of new jobs created in the North West fell to its lowest level in 11 years, according to a new report. The latest KPMG and REC UK Report on Jobs: North of England survey revealed a sharp reduction in recruitment activity in March as the Covid-19 pandemic hits demand for workers. The report showed both permanent placements and temporary billings fell at the quickest pace for 11 years. Looking at the UK as a whole, permanent staff placements decline at the quickest rate since 2009.
Three Scottish businesses join UK security scheme
Three Scottish scale-up businesses are among 22 cyber security companies across the UK selected for the Tech Nation Cyber 2.20 growth programme. Cyan Forensics, SnapDragon and Symphonic Software will join 19 other companies throughout the UK. Tech Nation’s Cyber programme aims to unlock the growth potential for early-stage cyber scaleups. The programme addresses key issues facing cyber founders, including scaling internationally, scaling company culture and navigating access to clients and stakeholders in the cyber ecosystem. The programme is supported by partners CBRE, RSM, Talent Works International and Wilson Sonsini who bring their expertise and networks to Cyber 2.0.
https://www.thenational.scot/news/18367968.three-scottish-businesses-join-uk-security-scheme/
GM LEP approves £3m funding to bolster financial support available to Greater Manchester businesses battling impact of coronavirus
The Greater Manchester Local Enterprise Partnership (LEP), working with the Growth Company, has announced a £3 million package of financial support for Greater Manchester businesses to aid those struggling with the impact of coronavirus. The Greater Manchester Coronavirus Business Interruption Loan Scheme (GM CBILS), led by GC Business Finance (GCBF), aims to provide loans of between £5,000 and £250,000 to qualifying companies. The GM CBILS backed funding will bring vital additional capacity to existing Government schemes, meaning that more business in Greater Manchester will have access to the funding they need to meet the challenge of the Coronavirus outbreak.