Business News Round Up (25/08/2020)
Moray Growth Deal to back visitor attraction, innovation centre and digital health project
A £100 million investment into Moray’s future prosperity was approved by the UK and Scottish Governments, which will create 450 jobs over the next 10 to 15 years. The two governments have agreed to each invest up to £32.5 million, with a possible £35.8 million coming from the public, as well as third sector and private businesses. Moray Council’s lead officer for the Growth Deal, depute chief executive Rhona Gunn, said that signing of this agreement is the green light for the team working on business cases to shape the projects and ensure they deliver inclusive economic growth across the region.
https://www.insider.co.uk/news/moray-growth-deal-back-visitor-22572408
British Business Bank makes its 75,000th start-up loan
The British Business Bank has provided the 75,000th funding deal under its Start Up Loans (SUL) programme, which has now invested £623 million since being launched in 2012. The British Business Bank is the economic development bank of the UK Government with a UK-wide lending remit, which as well as loans also includes equity. Its SUL programme provides up to £25,000 in debt to new businesses at an interest rate of 6%, providing vital finance in a marketplace where many banks do not operate. SUL saw a significant rise in loans issued since the start of the pandemic in the UK. May to July 2020 saw a total of £31.9 million of funding drawn down, compared to £22.9m in the same period the previous year, an increase of more than 39%. July 2020 has been the record month for drawdowns since 2014, as restrictions eased, and businesses started to re-open their doors to customers.
New funding to support Scotland’s events sector – but only 600 companies can apply
VisitScotland has today announced the details of a £6 million fund to help the events sector recover from the Covid-19 pandemic while restrictions on the sector are still in place. The Events Industry Support Fund will comprise of a one-off grant of £10,000 to support businesses in the events industry, particularly those in the supply chain, that are facing hardship and will be awarded as applications are received. The fund is being delivered on behalf of the Scottish Government by VisitScotland and its EventScotland team, with development input from the newly formed Event Industry Advisory Group (EIAG).
‘Touch free’ offices unveiled by real estate group
Real estate investment management group, Barings, reveals its Landmark office development in Manchester city centre is offering a ‘touch free’ experience after implementing smart technology. Landmark includes features such as: Pre-installed ultra-fast fibre connections with Colt, Openreach and Telcom; free WiFi; intelligent destination control lifts; smart building management systems, close proximity to The Loop network, smart access control and visitor management systems; a bespoke occupier engagement app; intelligent LED lighting that responds to outside conditions; and solar panels on the roof generating on-site electricity. Recent research undertaken by CBRE, joint agents on Landmark with Colliers International, states that adoption of touch-free technology and other smart building tools will support new work practices as part of updated occupier strategies.