Business News Round Up (09/07/2020)
Mini budget 2020: £800m for Scotland to aid economic recovery
Scotland is set to receive an additional £800 million in funding to aid the economic recovery from coronavirus. Chancellor Rishi Sunak said the latest spending plans from the UK Government would mean Scotland had received a total £4.6 billion from Westminster during the pandemic, and that the health crisis had “highlighted the special bond which holds our country together”. A cut to stamp duty tax and a slashing of VAT are among the measures unveiled by the Chancellor, aimed at offsetting the negative economic impacts caused by the coronavirus pandemic and lockdown.
Marketing Manchester launches tourism and hospitality recovery campaign
Marketing Manchester has launched a consumer campaign designed to help the tourism, hospitality, leisure, and cultural industries recover and rebuild confidence. Find Your Space is a response to the decimation of the sector by Covid-19, where by August 2020 it is projected that a £4.2 billion loss will be made. Developed in partnership with more than 20 Greater Manchester organisations, including Greater Manchester Combined Authority and the Greater Manchester local authorities, the campaign is squarely aligned with other recovery campaigns and initiatives such as Build Back Better and Safety in GM. The first wave will focus on hyper local audiences, encouraging residents to get out in their local villages, towns, cities, and countryside.
Scotland’s first commercial vertical farm to be built
IGS, an Edinburgh based indoor agritech specialist has announced the completion of a deal with Vertegrow, an Aberdeenshire vertical farming operator. The four-tower system will be built on a 1,600m2 are on Vertegrow’s site at Waterside Farm. This will provide approximately 1,343 m2 of growing space, producing up to 70 tonnes of produce per annum when fully operational, according to the companies. The towers, which are expected to be operational in early 2021, will grow a variety of crops intended to service the local food supply chain.
https://scottishbusinessnews.net/scotlands-first-commercial-vertical-farm-to-be-built/
The 104 North West SMEs to have secured Made Smarter funding will now add £100m to region’s GVA
More than 100 North West SMEs have benefited from access to cutting edge technologies to help boost productivity and growth and join Industry 4.0. According to Made Smarter, since its launch 18 months ago, around 950 SME manufacturers have already secured support that includes advice and £2.5 million of funding. That support includes technology advice, digital road mapping workshops, leadership development programmes and funded digital technology internships. A total of 104 of the businesses have now secured matched funding for 115 projects – and are forecast to deliver an additional £100 million in gross value added (GVA) for the North West economy over the next three years.
https://www.business-live.co.uk/economic-development/104-north-west-smes-secured-18567154