Business News Round Up (21/06/2021)
UK tech employment stays strong, new report from industry association CompTIA finds
The United Kingdom is expected to add nearly 15,000 technology-related jobs this year, according to a new report released today by the Computing Technology Industry Association (CompTIA), the non-profit association for the information technology (IT) industry and workforce. CompTIA’s “State of the Tech Workforce U.K.” reports that organisations employed approximately 1.98 million tech workers1 in 2021. Job growth was slower than expected as the U.K. continued to navigate through the widespread economic impact of the pandemic, but the tech industry avoided the job losses that affected many other industry sectors in the region. The tech industry accounts for 5.5% of the U.K. economy, or £82.6 billion. Since 2016, tech employment increased by an estimated 62,140 new jobs or about 10,356 new jobs each year. “The tech sector in the U.K. is strong and growing stronger each year,” said Graham Hunter, executive vice president at CompTIA. “The evidence is clear: A well-trained and certified tech workforce makes a significant impact on the nation’s economy. And businesses of all sorts will need more skilled workers if we are going to maintain the growth resulting from the ongoing digital transformation efforts that accelerated during the pandemic.” Nearly 20% of all employer tech job postings in 2021 were for positions in emerging technologies such as artificial intelligence, automation, blockchain and internet of things, or jobs requiring skills in those areas.
Scottish SMEs desire tech – but business hurdles slow progress
New research has found that, despite 79% of Scottish SMEs planning to adopt new tech, many believe they still face substantial barriers. Scotland’s small businesses are seeking to adopt technology, but see time, money, and a lack of understanding of the landscapes as key barriers. In a survey commissioned by Virgin Money, 79% of small and medium enterprises (SMEs) in Scotland said they were likely to adopt new technology in the next five years to support business performance and growth. A similar number (82%) believe technology can enhance success, and almost three quarters (71%) are planning to upskill their workforce to adapt to digital technology. However, despite the survey results showing that Scottish SMEs desire tech for business growth, data showed that there are still common barriers among SME decision makers slowing progress. Around 38% of respondents cited a lack of funding as the main factor preventing them from using advanced technology, while 29% said it is a lack of time to implement and 21% said a lack of understanding of what tech can do. A quarter said advanced technology was not relevant to their business.
The North West lost almost 22,000 manufacturing jobs during the pandemic
The North West lost almost 22,000 manufacturing jobs during the pandemic, GMB analysis shows. The damning statistics are revealed alongside GMB’s Annual Congress, which takes place in Harrogate today [June 13, 2022]. They show 21,800 jobs in the sector disappeared between 2019 and 2021, a fall of 6.3 per cent in just two years. In 2019, the North West supported 346,800 permanent and temporary manufacturing jobs By the start of this year, the had fallen to 325,000. Charlotte Childs, GMB National Officer, said: “Almost 22,000 manufacturing jobs lost during the pandemic is devastating for communities in the North West. Unless Ministers address this urgently there could be worse to come. The race to net zero could revolutionise UK manufacturing; tens of thousands of new, green jobs in wind, solar, nuclear, and more. Instead, this Government seems determined to let them all disappear overseas.”
Scottish tourism bookings fall as cost-of-living crisis bites
Travel bookings for this summer and beyond are down and almost 40% of businesses have reported a decrease in spending in since May 2021. That’s according to the latest Scottish Tourism Alliance (STA) research, which revealed that half of those surveyed think they have fewer than normal bookings for the period of June to August in comparison to this time in May 2019. Looking ahead, 57% of businesses report fewer bookings than normal for the period of September to December, in comparison to pre-pandemic. Bookings this summer are perceived by businesses to have been impacted by the UK cost of living crisis, the appeal of outbound international travel, Scotland’s inability to compete internationally on price and value for money, and people taking late decisions on holiday destinations. More than 700 tourism businesses took part in the survey which ran from 17 May to 8 June, with responses coming from all 32 of Scotland’s local authority areas and 15 core industry sub-sectors: predominantly self-catering, hotels, bars and restaurants, bed and breakfast, visitor attractions, guest houses and tour operators. Of those, 34% described their business as currently in steady recovery, 50% of respondents stated that it would take them at least a year to recover and 6% said they are unlikely to make it. The top three challenges for businesses currently are rising energy costs, an increase in supplier costs, recruitment and staffing. Inflation is also a notable challenge.
https://www.insider.co.uk/news/scottish-tourism-bookings-fall-cost-27282195