Business News Round Up (12/05/2026)
Second anniversary of NPIF II marked by delivery of £275m boost to northern businesses
Completed across 449 deals, the Fund is playing a vital role in boosting regional growth, while crowding in private sector co-investment. More than £151.3m in direct investment across the region has helped to unlock an additional £122.6m from the private sector, delivering capital that northern businesses may not have otherwise been able to access. Over the last two years, the Fund has supported a diverse range of businesses through debt and equity investment, helping them to achieve their growth ambitions and bring innovative ideas to market. The investments, delivered by NPIF II fund managers across the North of England, are continuing to drive sustainable economic growth. Aligning with the UK’s Modern Industrial Strategy, the Fund is ensuring high growth priority sectors across the North can contribute to UK-wide growth.
Fastest increase in Northern permanent job placements in nearly four years
The North has seen the fastest rise in permanent placements in nearly four years, April’s KPMG and REC, UK Report on Jobs: North of England survey shows. And while temp billings decreased again, the pace of contraction was softer than in March. Pay trends, meanwhile, diverged, as a stronger rise in starting salaries contrasted with a faster reduction in temp pay. The availability of both permanent and short-term workers continued to increase at historically sharp rates, while growth of demand for staff softened. Some recruiters noted an improvement in business confidence locally. Of the four monitored English regions, the North was one of two to see an uptick in permanent placements. The expansion in London was faster than that seen in the North of England, however. Recruiters based in the North signalled a sixth consecutive monthly fall in billings received from the employment of temporary staff in April.
New financing platform targets construction and manufacturing firms
A new specialist finance platform has launched with the aim of transforming how small and medium-sized businesses in the construction and manufacturing sectors access funding. SME Funded has been designed as a one-stop solution, connecting business owners with more than 130 lenders alongside its own deployed capital. The platform claims to offer faster, more flexible funding options in a market where traditional finance routes often fall short of meeting the needs of growing companies. Founded by construction mergers and acquisitions expert Bradley Lay, SME Funded seeks to remove the friction from securing finance by combining deep sector expertise with a streamlined, hands-on approach. SME Funded offers a range of funding solutions tailored specifically to the needs of construction and manufacturing businesses. These include business loans, asset finance, equipment finance, bridging and property finance, motor finance and software finance.
£500k boost to Digital Skills Fund in Glasgow and Beyond
Five charities across the west of Scotland have received a share of £493,330 through the latest round of the Building Digital Skills Fund, a partnership between the HFD Charitable Foundation and Virgin Money Foundation. The fund helps community groups and charities tackle digital inequality by building skills and confidence, improving access to affordable data and broadband, and providing essential equipment such as mobile Wi-Fi devices. Now in its third round, the programme is expanding beyond Glasgow for the first time, reaching charities in Renfrewshire, Inverclyde, and Paisley, alongside projects within the city itself. The organisations receiving funding are Active Communities, Family Action in Rogerfield and Easterhouse (FARE), Your Voice Inverclyde Community Care Forum, North West Women’s Centre, and The Tannahill Centre. This latest award brings the total funding to £1.8 million since the programme was launched in 2024, with 20 charities supported.
https://www.digit.fyi/500k-boost-to-digital-skills-fund-in-glasgow-and-beyond