Business News Round Up (23/07/19)
UK economy will weaken over 2019 and 2020 even if no-deal Brexit is avoided, forecasts leading think tank
The National Institute of Economic Social Research has warned in their latest forecasts that economic growth in the UK will continue to contract in 2020 even if a no-deal Brexit is avoided.
Business creation rate in Scotland lags behind the UK, figures show
New research from the Federation of Small Businesses (FSB) has revealed the growth in the number of businesses in Scotland has failed to keep up with the UK since the Scottish Parliament was set up 20 years ago. Figures show the number of businesses increased by 46%, whereas the number of businesses across the UK increased 63% in the same time period.
Collaboration ‘drives £20m boost for Sci-Tech Daresbury firms’
Sci-Tech Daresbury, a national science and innovation campus based in the Liverpool City region, claims it is fuelling growth for companies based on the campus as a result of its collaborative culture – boosting companies as much as £20.3 billion in 2018.
https://www.businesscloud.co.uk/news/collaboration-drives-20m-boost-for-sci-tech-daresbury-firms
Number of deals is up but venture capital funding in Scotland falls
According to KPMG’s Venture Pulse the funding value has dropped by more than £16.8 million in the second quarter of 2019 despite the number of deals increasing, as investors become more risk averse as political and economic uncertainty continues.
https://www.insider.co.uk/news/number-deals-up-venture-capital-18667577