Business News Round Up (20/11/2025)
£1bn growth plan for Greater Manchester unveiled
Greater Manchester’s leaders have announced a £1bn plan for 30 new projects aimed at boosting the city region’s economy. There will be three projects in each of the area’s 10 boroughs, with the first wave of schemes expected to deliver nearly 3,000 new homes, 22,000 jobs and two million square feet of employment space. Mayor Andy Burnham said the initial investment would unlock a further £1.3bn in private capital. The region wanted to “pioneer a new model for economic growth” over the next decade, he added. The city region has become the fastest growing part of the UK economy with annual growth of 3.1% – more than double the rate of the country as a whole. It has, however, been focused mainly in Manchester and the aim of the GM Good Growth Fund is to ensure the benefits are felt across the whole conurbation.
https://www.bbc.co.uk/news/articles/cwyn8y6q957o
Scotland’s food and drink sector turnover hits record £19bn as industry remains ‘cautiously optimistic’
Scotland’s food and drink sector has seen its turnover soar to a record £19 billion, thanks in part to food price inflation, the boss of Scotland Food and Drink says. The sector, which includes around 17,000 businesses, is Scotland’s third largest industry by value, contributing a record £7 billion in Gross Value Added to the economy. These figures, released by the Scottish Government, represent the value of the country’s food and drink sector in 2023 – with a two-year time lag required for data collection, verification and analysis. Despite the record-breaking value, Iain Baxter, chief executive of industry body Scotland Food and Drink, described the sector as “cautiously optimistic rather than celebratory”. The surge in the sector’s value is attributed to growth in both export and domestic sales, as well as higher market prices due to inflationary pressures and escalating energy costs.
https://www.insider.co.uk/news/scotlands-food-drink-sector-turnover-36270790
Make UK highlights urgency of Business Energy Support Scheme
UK manufacturers are urging the Government to secure funding for the proposed business energy support scheme, warning that delays or limited rollout could put many companies at risk as energy costs surge. Make UK highlights the urgency of: Expanding energy support to cover the full manufacturing sector rather than just the 7,000 companies currently included; Bringing forward the scheme from its planned 2027 start date to address sharply rising energy bills, driven by transmission investments and nuclear power costs, which could add up to £500,000 per company annually. Stephen Phipson, Chief Executive of Make UK, commented: “Manufacturers are facing a perfect storm of rising energy costs and global competition. The Government has the tools to act now, but it requires political commitment. Delaying or limiting support risks stifling growth and leaving vital UK industries vulnerable.”
Insolvencies in Scotland continue to plateau
A total of 115 company insolvencies were registered in Scotland in October this year, the same number as in October 2024, according to the latest UK Government Insolvency statistics. The total number of company insolvencies was comprised of 61 CVLs, 50 compulsory liquidations and four administrations. There were no CVAs or receivership appointments. The figures also revealed that the total insolvency rate in Scotland in the 12 months to October 2025 was 52.0 per 10,000 companies on the effective register, as shown in Figure 7. This was down by 1.1 from the preceding 12 months ending October 2024. Michelle Elliot, restructuring advisory partner at FRP in Glasgow, said: “While insolvencies have plateaued year on year, firms still face a challenging operating environment as we approach the Autumn Budget.”
https://www.scottishfinancialnews.com/articles/insolvencies-in-scotland-continue-to-plateau