Business News Round Up (26/01/2021)
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Full-time job postings online on the rise as UK economy attempts to recover
The number of full-time jobs posted online is on the rise as the UK economy attempts to gain traction in the midst of the pandemic, a new report suggests. However, the latest jobs indicator released by Internet Association also highlights the impact of the lockdown on part-time work. The new data shows that in December 2020, full-time online job postings rose by 2.5%, following a 1.5% rise in November 2020 and a 0.3% rise in October 2020 – pointing to cautious growth in the full-time jobs market. However, the impact of the lockdown introduced late last year on part-time work is also revealed by the new data. November 2020 saw a 23% decrease in part-time online job postings, following a small increase of 2% in October 2020. With the closure of non-essential retail, hospitality, and other sectors reliant on part-time work, this decrease highlights the impact on those sectors and their workers.
FinTech Scotland calls for more industry research
A new report by FinTech Scotland and FinTech Wales calls for greater research and innovation into the fintech market to increase development and support growth during a time of seismic change in the UK. Titled Research and Innovation for UK FinTech, the study outlines several areas where research and innovation could increase sector growth and provide more jobs. Currently, data shows the United Kingdom is second only to the US in terms of fintech development and growth – and is leading Europe by a substantial margin. In 2020, there were 408 deals in the UK, accounting for just under half of the US$9.3bn invested across the whole of Europe. FinTech Scotland and FinTech Wales stated in the report that longer-term research and innovation ecosystem across the UK is required to support the sector that already employs 60,000 people and is estimated to be worth $95.6bn. The report states that for the UK to maintain its global edge in fintech services throughout Brexit and the COVID-19 crisis, “a paradigm shift is required
E-commerce-led surge in North West logistics take-up
Online retailers such as Amazon have created a surge in demand for logistics space across the North West during the COVID-19 pandemic. New figures from property consultancy Cushman & Wakefield show take-up of logistics space in the region hit 4.7m sq ft in 2020, an increase of 32% on 2019. A big rise in e-commerce due to lockdowns and restrictions fed the demand. Almost 38% of total annual take-up (including parcel delivery and postal operators) came from e-commerce operators, an all-time high. Demand across the North West originated from all major sectors with manufacturing accounting for one third of deals signed. Availability of space in the region fell by more than 40% in 2020 to 7.4m sq ft, significantly below the long-term average of 9.3m sq ft. This lack of supply is apparent for larger units, with only eight buildings in the North West capable of accommodating requirements of 200,000 sq ft and over.
Scotland Food and Drink Partnership launches The Academy to drive sector growth
The Scotland Food & Drink Partnership has launched a new and unique training initiative to help businesses targeting growth, after the industry was one of the hardest hit by COVID-19 and Brexit. Launching on Burns Night, The Academy, which is the first major investment from Scotland Food & Drink Partnership’s £5m Recovery Plan and is supported by The Scottish Government, will run for two and a half years, and aims to support over 200 Scottish businesses. The creation of a unique supplier development programme has been high on the agenda for the Partnership since launching its Home Advantage strategy in 2018 and is also integral to its Ambition 2030 plan. Open to food and drink businesses of all sizes and disciplines, The Academy, is a series of three programmes being rolled out to support businesses sell themselves, build their brands, thrive, and compete and is being delivered by the Scotland Food & Drink Partnership and food and drink consultants and training experts Levercliff Associates.