Business News Round Up (09/11/2020)
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Only 7% of UK workers want to return to office full-time
UK office workers want to continue working remotely after Covid-19 restrictions lift, despite admitting their productivity is significantly reduced, according to new research released today by Locatee, the workspace occupancy and analytics provider. According to Locatee’s research, if given the choice, just 7% of respondents would opt to return to the office full time. Almost one in five (18%) would choose to work from home every day, whilst a third (32%) would opt to work from home most days. Those with three or more children are the most likely to want to return to the office permanently (11%), whilst men are keener than women to return (49% vs 44%). Asked to identify the key reasons for working from home, 72% of respondents flagged ‘comfort’, whilst 50% stated they feel more productive.
https://londonlovesbusiness.com/only-7-per-cent-of-uk-workers-want-to-return-to-office-full-time/
Business output and confidence in decline for the first time since April
Both business output and confidence fell in October for the first time since the initial lockdown in April, according to the latest Business Trends report from accountancy and business advisory firm BDO LLP. The BDO Output Index, which provides the most comprehensive snapshot of business output by weighting macroeconomic data from the UK’s main business surveys, fell by 0.86 points in October, putting an end to five consecutive months of recovery. The latest figures show that regional lockdowns and a tightening of national restrictions had already started to take their toll on business output across the UK – and point to an even more difficult month ahead as the second nationwide lockdown commences. Overall, BDO’s Output Index now stands at 77.09, well below the 95 level that indicates annual output growth.
Private-sector sees downturn as tougher Covid-19 measure begin to bite, report finds
Scotland’s private sector entered a downturn in October amid tougher coronavirus restrictions, according to a business report. The latest Royal Bank of Scotland Purchasing Managers’ Index (PMI) shows the stricter rules “curbed” businesses activity. The report’s Business Activity Index fell to 43.2 in October from 51.2 in September, a sharp drop but less marked than in spring. Restrictions were placed on hospitality from 9 October, with the sale of alcohol banned indoors across Scotland and pubs and restaurants in the central belt forced to close completely. A significant drop in new business has been key to the decline, the report found, with Scotland recording the most severe reduction across the UK, attributed to weak client demand due to the pandemic. Business confidence among private-sector respondents hit a five-month low with Brexit fears, coronavirus concerns and the drop in demand said to be behind the fall.
https://www.insider.co.uk/news/private-sector-sees-downturn-tougher-22977927
Trade between India and North West hits £1bn
The value of trade with India for North West businesses hit £1 billion for the first time last year, according to analysis from Deloitte. Research from the business advisory firm, in partnership with the Manchester India Partnership, reveals that the total value of imports and exports involving companies from the country exceeded £1 billion in 2019 compared to £887 million in 2015. Deloitte also found that both interest from Indian businesses in North West products and vice versa has “increased considerably” in recent years. The study comes as the latest Foreign Direct Investment (FDI) figures reveal that India was the third most active investor in new projects in Greater Manchester between 2017 and 2020, behind Germany and the US.
https://www.insidermedia.com/news/north-west/trade-between-india-and-north-west-hits-1bn