Business News Round Up (14/01/2020)
Scotland in bottom half of UK innovation league, says report
A new study from the Centre for Economics and Business Research (CEBR) has revealed a strong correlation between overall innovation and productivity and employments levels in relation to reducing the productivity gap. The study revealed that investment in new start-ups and dedicated support for innovators are vital to increasing GDP and tackling productivity gaps, with the potential to deliver £106 billion to economic output and create 272,000 jobs.
https://www.insider.co.uk/news/scotland-bottom-half-uk-innovation-21273158
Company formations rise by 3% in 2019 hitting 681,704
The number of companies formed in the UK in 2019 rose by nearly 3%, reaching 681,704 registered businesses, according to new research. The Centre of Entrepreneurs, which conducted the research based on Companies House data, found that London has the highest number of start-ups with 221,373 companies registered, followed by Birmingham (14,509) and Manchester (9,064).
https://smallbusiness.co.uk/company-formations-rise-by-3-in-2019-hitting-681704-2549206/
Business confidence soars to a record high, claims Deloitte survey
Business sentiment has increased to an all-time high among the UK’s large companies after the general election in December, according to Deloitte’s latest CFO survey. The fourth quarter 2019 survey, which took place immediately after the December UK General Election, showed the largest increase in confidence in its 11-year history. Overall, 53% of CFOs said they are more optimistic about the prospects for their company than they were three months ago, up significantly from just nine per cent in the third quarter 2019 survey and reaching the highest level ever, with many now increasing investment and preparing to hire more workers.
£100m milestone for Building Scotland Fund
The Scottish Government’s Building Scotland Fund (BSF) has topped £100 million of financial support for housing, regeneration and industrial and commercial projects. The Scottish Government fund established as a precursor to the Scottish National Investment Bank is set to run for three years and is aimed to total £150 million in public funding. The Building Scotland Fund had also agreed investments of £75 million in a range of housing projects of varying sizes, supporting more than 5,500 homes and approximately 600 full-time jobs.
https://www.gov.scot/news/gbp-100m-milestone-for-building-scotland-fund/