Business News Round Up (16/11/2020)
Coronavirus ‘megalab’ to be created in Scotland
The UK’s daily coronavirus testing capacity is set to more than double with the opening of two new “megalabs” early near year, the UK Government has announced. The two laboratories, one in Scotland and another in Leamington Spa, will together be able to process up to 600,000 samples a day when operating at full capacity, according to the Department of Health and Social Care (DHSC). This increased capacity of 300,000 in each lab will mean faster turnaround times for results, according to DHSC. The location of the Scottish lab is yet to be confirmed. As well as processing Covid-19 tests, these new diagnostic facilities will be used for critical illness including cancer, cardiovascular and metabolic diseases.
https://www.scotsman.com/health/coronavirus/coronavirus-megalab-be-created-scotland-3036475
UK businesses concerned by lack of skills required to tackle climate change
UK businesses are facing an era of unprecedented disruption and transformation as a direct result of climate change. The financial cost of climate change risk, estimated to be upwards of US$1 trillion, poses a significant threat to businesses. A joint survey of 113 UK directors and C-suite executives from the world’s leading companies, conducted by Eversheds Sutherland and KPMG, revealed that company boards and management recognise the need to upskill to confront climate-related risks. 75% of UK senior decision makers who responded to the survey in August 2020 agreed their company’s management must improve its skillset to deal with climate-related risks, and that failure to do so could pose a threat to jobs; the survey revealed that 83% of UK executives surveyed think climate risk is a key factor in whether they will retain their job over the next five years.
Greater Manchester councils become first local authority to provide bounce back loans for SMEs
Greater Manchester Combined Authority (GMCA) has become the first local authority to provide bounce back loans. The combined authority said it has “stepped in” to pledge £10 million emergency funding, in partnership with GC Business Finance, in response to gaps in the availability of bounce back loans for SMEs in the city region following the second lockdown. The funding is specifically designed to support businesses unable to access the Bounce Back Loan Scheme (BBLS), GMCA said, and follows recognition of an emerging gap in the market for local firms dependent on the loans to survive and grow despite the pandemic.
Scottish cities rank highly as best places to start a Covid lockdown ‘side hustle’
Edinburgh has come second in a UK wide study of the best cities in which to start a ‘side hustle’ during the Coronavirus restrictions. Glasgow came eighth in the research rankings, with the only other Scottish city in the top 25 being Aberdeen, which was ranked 24th for starting a secondary business. Business advice organisation UK Domain analysed the UK’s 69 cities based on eight criteria to find out which has the best environment to foster entrepreneurship. This included factors such as population, cost of living, broadband speed, life satisfaction, disposable income, average time working and commuting, and the number of new registered website domains. Residents of the Scottish capital scored highly in terms of life satisfaction and amount of disposable income. But cost of living, broadband speeds and commuting hours meant Brighton beat it to the top spot. Despite this, 5,504 domains were still registered in Edinburgh from March to July.
https://www.insider.co.uk/news/scottish-cities-rank-highly-best-23004867