Business News Round Up (23/04/2021)
Lifting lockdown brings surge of activity for UK companies
A deluge of new orders swept through British businesses in April as the country lifted some of its COVID-19 restrictions, according to a survey on Friday that pointed to a rapid rebound for the pandemic-hit UK economy. The preliminary “flash” reading of the UK Composite Purchasing Managers’ Index (PMI) rose to 60.0 in April from 56.4 in March, its highest reading since November 2013. A Reuters poll of economists had pointed to a smaller rise to 58.2. The survey added to signs that the world’s fifth-biggest economy, which shrank by nearly 10% in 2020, is shaping up for a rapid recovery helped by the fast rollout of COVID-19 vaccinations. Non-essential retailers in England reopened on April 12 along with pubs and restaurants operating outdoors, and from May 17 more restrictions are due to be lifted to allow indoor hospitality, performances, and sporting events.
Business Gateway helps over 34,000 businesses respond to COVID-19
Business Gateway, Scotland’s national business support service, has helped 34,687 established and start-up businesses over the last 12 months as they were forced to adapt and respond to the challenges of the pandemic, according to recent figures. The service also had to quickly adapt its own services. One-to-one support for businesses and the self-employed and those thinking about starting a business, was carried out via video or telephone calls instead of face-to-face and all previously planned workshops were made available as webinars. Additionally, a suite of new resources – including podcasts and online tutorials – were developed to support businesses trying to adapt to new circumstances.
‘UK needs to embrace new technology to increase economic growth’
Increasing working hours has not resulted in increased economic growth when compared to other countries because the UK is not embracing new technology, say tax and advisory firm Blick Rothenberg. David Hough, a technology partner at the firm spoke to Business Leader about tech’s importance for the future of the economy.World Creativity and Innovation Day is a reminder that businesses need to continue to adapt and find new ways of working, embrace new technology, and bridge the productivity gap. We are in a technological revolution that businesses need to embrace. They should not stand still despite the fact that in an uncertain economy many are focussed on cash flow.The UK ranked 31 and out of 35 countries when measuring productivity and GDP growth between 2017 and 2019 according to the ONS. Last year we saw companies quickly adopting new ways of working to reduce the disruption caused by the outset of the pandemic. This needs to continue with investment in new technology, and revisions to business practices.
Manchester to ‘bounce back stronger’ – Brewin Dolphin
Brewin Dolphin is expecting Manchester and the wider North to bounce back from the pandemic strong than ever, an investment manager at the firm has told Insider. Bradley Russell also hailed the entrepreneurial spirit of the city and what a good year for the company would look like. The investment management firm is based in Spinningfields Square. It can trace its roots in the city back to the founders of the Manchester Stock Exchange in the 1840s and became Brewin Dolphin through a series of mergers and expansions. Bradley Russell, an investment manager at the firm in Manchester, has spoken to Insider about the company’s movements over the last 12 months and what lies ahead. “We were lucky enough to have invested heavily in technology over recent years and this meant that we were able to seamlessly move our entire workforce to homeworking, with little to no disruption to the service we were able to provide to our clients,” he said.
https://www.insidermedia.com/news/north-west/manchester-to-bounce-back-stronger-brewin-dolphin