Business News Round Up (17/04/2020)
Business distress increases – even before full impact of lockdown is known
21 out of the 22 key business sectors in the North West saw an increase in levels of financial distress in the first quarter of 2020, according to new research. The latest Red Flag Alert report by insolvency specialists Begbies Traynor revealed that 49,502 businesses in the North West reported significant financial distress, a rise of 4% on the previous quarter (47,653). Traditionally strong business sectors in the region such as professional services, media and culture saw the largest leaps in distress in percentage terms during the first quarter. Financial services and hotels and accommodation saw the biggest percentage quarterly increase of seven per cent. The leisure, cultural and media sectors saw an increase of 6%. Construction (6,466), real estate (5,505) and support services (8,941) make up the bulk of the volume of distressed companies.
Logistics and IT in biggest demand with recruiters during coronavirus pandemic
The number of advertised jobs in the IT and logistics sectors rapidly increased in March as businesses adapt to the coronavirus lockdown, according to new research from Totaljobs and the British Chambers of Commerce (BCC). Demand for warehouse workers, van and lorry drivers saw the biggest increase in advertised jobs in March while demand for staff in the IT and tech sectors continued with more roles advertised than in any other industry. There was a 31% increase in searches for IT roles on the Totaljobs platform during the second week of April, with jobs in warehouse operations and logistics attracting applications from 68,000 new users on the platform.
https://www.insider.co.uk/news/logistics-biggest-demand-recruiters-during-21880326
New support for Scottish businesses managing remote workers during Covid-19 pandemic
A new social enterprise has been launched aimed at helping Scottish companies manage remote workers during the coronavirus outbreak. Flexibility Works aims to help organisations and employers of all sizes and in all sectors to reap the benefits of flexible working. Its first major project will look at supporting firms to cope during the pandemic. Longer-term, the organisation will work with companies to increase all kinds of flexibility at work, not just remote working. Flexibility Works will provide free resources for employees and employers on how to work remotely or manage remote workers. It will host an online ‘knowledge share’ event for businesses to contribute information on what they’ve changed and what’s working for them, and a virtual catch-up for employees now working from home to ask questions and share tips.
Mactaggart first CEO at Scottish National Investment Bank
The Scottish National Investment Bank has appointed its first chief executive officer. Eilidh Mactaggart will lead the bank’s mission based approach to investing in Scotland with the aim of creating a high-growth, low carbon economy. Investments will have to meet criteria which help the move to a net-zero emissions, high-tech economy. It has been given an initial £2 billion of Scottish Government funding over the first 10 years. Mactaggart has more than 20 years’ experience in banking and investment management and has led large scale investments in social infrastructure, transport infrastructure, regulated utilities and renewable energy.
https://dailybusinessgroup.co.uk/2020/04/mactaggart-first-ceo-at-scottish-national-investment-bank/