Business News Round Up (16/03/2020)
£320 million package of support for businesses
Businesses in Scotland are to receive a package of support worth £320 million to help with the impact of coronavirus, the Scottish Finance Secretary announced. Small businesses in the worst hit parts of the economy, such as retail, tourism and hospitality, will receive grants of at least £3,000 and will also receive 75% rates relief from April if their rateable value is less than £69,000. A £50 million hardship fund will also be made available to people who lose their jobs as a result of a downturn caused by the virus.
https://www.gov.scot/news/gbp-320-million-package-of-support-for-businesses/
Manchester hotel trade enjoyed record years thanks to series of deals
Manchester experienced a record number of transactions in the hotel sector in 2019, with investors and firms flocking to the region, according to specialist business property advisors Christie &Co. The review of the UK’s regional hotel market identified Edinburgh, Manchester, Birmingham, Glasgow, Bristol and Liverpool were identified as the largest markets outside of London. The report found 2019 was a record year for transactions in Manchester, which is the largest regional UK market in terms of transactional volume.
Tech firm IFB offers free remote working advice service to companies
Aberdeen based digital communications company IFB has launched a free service to help companies implement remote working strategies during the Covid-19 pandemic. The company will advise on key considerations and actions firms take do to prepare, in advance, for any self-selected or imposed need to move their workforces out of the office to home or remote locations. IFB has already been supporting existing customers with contingency plans but is inviting other firms to attend resilience sessions.
https://www.insider.co.uk/news/coronavirus-tech-firm-ifb-offers-21697210
Manchester based technology business Culture Shift secures £1.35m investment
A Manchester based technology business that has created a platform for people to confidentially and safely report workplace harassment has secured a £1.35 million investment in a funding round led by Praetura Ventures, a venture capital firm which targets early stage businesses in high value sectors. The company intends to use the funds to expand its team, develop its proprietary software and accelerate its rollout to business customers, with a focus on FTSE 350 and heavily-regulated sectors. The software is designed to empower those who are reluctant to report wrongdoing, by removing barriers to reporting, and ensuring they have a secure and confidential platform in which to do so and also allows victims or witnesses of harassment to access support for what they’ve experienced as well as giving organisations oversight of any worrying trends, helping them to tackle them.
https://aboutmanchester.co.uk/74569-2/