Business News Round Up (14/09/2020)
Scottish businesses see more positives coming from Covid-19 than from Brexit
A new survey has revealed that Scottish SMEs see more potential benefits from Covid-19 than from Brexit. The research, carried out by Business Gateway, found that while the pandemic is a concern for 78% of small-to-medium enterprises (SMEs), 52% anticipate some positive changes. Only 38% of those surveyed said they expect positive outcomes to come from Brexit. More than half of Scottish businesses cited concerns that Brexit would result in increasing taxes or overheads (60%), exchange rate fluctuations (54%), impacts on their supply chains (52%) and a loss in sales (51%). Almost two-fifths of SMEs agreed Brexit will mean significant changes to their working practices (38%) while 35% feel well prepared for when Britain exits the EU. A third (33%) anticipate that they will have to restructure their business in response to the changes.
https://www.thenational.scot/news/18717985.scottish-businesses-see-positives-coming-covid-19-brexit/
North West business growth continues – but ‘fails to kick up a gear’ as job cuts soar, NatWest PMI shows
Businesses in the North West recorded sustained growth in activity during August, latest UK regional PMI data showed, as the economy continued to recover from the record downturn caused by the coronavirus pandemic and associated lockdown. The latest NatWest Regional PMI report, which tracks changes in the goods and services sectors, said the area’s economy continued to recover during the month following the record downturn caused by Covid-19. Under the PMI index, a Business Activity Index reading above 50 is a sign of economic growth. For the North West, this figure was 57.2 in August – a slight drop from 57.4 recorded in July, and well below the UK average of 59.1.
https://www.business-live.co.uk/partners/rise-north-west-business-activity-18916340
Scotland’s tech economy starting to bounce back as new industry figures show signs of jobs recovery
Scotland’s tech economy is starting to bounce back from the effects of the coronavirus pandemic, according to figures released this week by a UK Government-backed agency. New data analysed by Tech Nation for the Government’s Digital Economy Council ahead of London Tech Week shows that companies are starting to recover in confidence and beginning to advertise again for staff. Scotland’s tech sector has been one of the strongest in the country, outside London and the South East, for several years now and showing encouraging signs of recovery in recent weeks with hiring announcements from several companies over the summer. Amazon said last week that it would create hundreds of new roles in Fife and Dundee.
North West at centre of the UK’s nuclear industry
The North West remains the leading hub of the nuclear industry, according to the latest report published by The Nuclear Industry Association (NIA). The findings show robust jobs figures, showing that the number of people employed in the industry as a whole has remained steady, despite the pandemic. According to the NIA’s annual Jobs Map, 59,584 people are employed in the civil nuclear sector across the UK, a slight increase on 2019. All parts of the industry, including generation, new build, decommissioning and research and development, have sustained operations throughout the disruptions of COVID-19.