Business News Round Up (20/02/2020)
Scottish business diaspora study finds nation needs to export more
One of the largest studies of Scottish business has warned that Scotland is too inward looking and must strengthen its global mindset. According to the Perceptions of the Scottish Business Diaspora report, only 29% of the 1000 contributors from 74 counties thought Scotland was outward looking. The survey was commissioned by the Scottish Business Network (SBN) and sought to broach topics including how the Scottish diaspora views Scotland and Scottish businesses, what businesses that already export have learned from their experience, and what cultural issues need to be addressed. It also sought to identify the perceived barriers to trade, what those businesses seeking to export require in terms of information, and what initiatives can be taken to encourage more exporting.
41% of UK businesses risk falling behind due to under investment
New research by Think Business Loans has found that 41% of British SMEs are unsure of their ability to invest in their business over the next 12 months, in part due to the value of business loans decreasing by 56%. Despite making up 98% of the private sector and contributing £1.9 trillion to the UK’s economy, SME lending accounts for only 2% of banks’ balance sheets. As a result, 4 out of 10 businesses are unsure of their ability to invest in their businesses, with many others now are now SMEs searching for innovative funding sources to help increase their growth.
Glasgow most active area in Scotland for hotel investment
According to new analysis of Scotland’s hotel market has found that Glasgow is the most active area in Scotland for hotel investment in 2019. The UK Hotel Capital Markets Investment Review 2020 by property consultants Knight Frank found that £170 million was spent across nine transactions in 2019, making Glasgow the third most active city in the UK outside London. The report found that there was approximately £260 million of hotel deals last year in Edinburgh, Glasgow, Aberdeen, and Inverness.
https://www.insider.co.uk/news/glasgow-most-active-area-scotland-21527822
Vacancies for tech professionals drop in UK and Scotland
New figures from Accenture’s UK Tech Talent Tracker have revealed there has been a significant decline in the number of available roles in Scotland for technology professionals in the last six months. The report found that there was a 42% decline in Edinburgh, with 1,557 vacancies for companies that require skills in emerging technologies, down from 2,666 in June. In Glasgow, the overall number of roles advertised has decreased by 36% in the second half of 2019.