Business News Round Up (17/07/2020)
Social Investment Scotland launches programme to help organisations post-Covid
Social Investment Scotland (SIS) has announced it will start providing support for social enterprises dealing with the impact of coronavirus and develop strategies for growth. The Ambitions for Recovery initiative will support 20 social enterprise leaders to adapt to and embrace the opportunities available to them post-pandemic. The plans will deliver strategies for future growth while highlighting the role social enterprises can play in building an impact-driven economy. It will offer virtual coaching, professional mentoring and give social enterprises access to interest-free recovery loans and grant funding, in part paid for by Baillie Gifford. The programme beginning in August will provide bespoke support packages to match each organisation’s needs. It will offer advice on leadership, pitching for investment, marketing and storytelling, strategies for growth and mental health coaching.
https://www.insider.co.uk/news/social-investment-scotland-launches-programme-22369117
North West leads latest UK property price growth projections
New figures have revealed that the North West is set to post the strongest five-year property price growth in the UK. Data from Savills reveals that, as Britain begins to recover from the COVID-19 pandemic, it will be property prices in north-west England which will lead the price growth recovery over the next five years. Savills’ baseline projection suggest that average UK property prices could rebound and grow15.1% by 2024. When broken down by region, the figures show that north-west England will post the strongest average property price growth in the UK over the next five years. Savills predicts values in 2021 will jump by 8.5% next year and 9% in 2022, with total growth of 24.1% by 2024.
https://selectproperty.com/2020/07/north-west-leads-latest-uk-property-price-growth-projections/
Orega opens second serviced office space in Glasgow
Serviced office provider Orega has launched its second business centre in Glasgow. Orega has 18 business centres throughout the UK, including George Square in Glasgow and the Silver Fin Building in Union Street, Aberdeen. and plans to expand its portfolio this year. Orega has signed a 15-year agreement with an institutional client of Barings for three floors at 220 St Vincent Street and it should be open for occupation in October.
https://dailybusinessgroup.co.uk/2020/07/orega-opens-second-serviced-office-space-in-glasgow/
Private equity to bolster North West deal-making, says YFM
Private equity transactions are to play a key role in the recovery of the North West deals market over the next 12 months, according to DSG Chartered Accountants and YFM Equity Partners. Both firms suggest that historical downturns, such as those experienced in 2008, could provide an indication of the potential outcomes of the next couple of years as businesses navigate through the impacts of Covid-19. Data gathered from Experian MarketiQ showed that North West private equity deal-making saw a 58% drop from 2008 to 2009, with deal volumes not returning to pre-recession levels until 2014.