Business News Round Up (27/01/2020)
Scotland sees sharp fall in number of companies in dire straits – latest Red Flag Alert
Scotland has witnessed a fall in the number of companies displaying signs of ‘critical’ financial distress, according to a new report. The latest Red Flag Alert report by accountancy firm Begbies Traynor, described Scotland’s economy as ‘more encouraging’ following a 28% year-on-year fall in critical or advanced financial distress – referring to businesses that have had winding up petitions or decrees totalling more than £5,000 against them. The hotel sector experienced the biggest decline (80%), followed by property (71%), bars and restaurants (67%) and construction (43%).
Medium sized businesses beat FTSE 350 in overseas sales race
Medium sized enterprises in the UK have outperformed both large and small firms in terms of revenues growth overseas, according to new data. Mid-sized companies have increased overseas revenue growth, driving international turnover by 69% in the last five years. Mid-sized businesses based in London were the best-performing in the country for foreign revenue growth, recording an increase of 85% in the last five years to £52 billion, followed by companies in the North East and North West of England.
https://www.cityam.com/medium-sized-businesses-beat-ftse-350-in-overseas-sales-race/
Manchester joint best UK location for buy-to-let properties
Manchester has been named joint best with London by landlords as the most attractive cities to invest in buy-to-let, according to new figures by insurance provider Simply Business. The figures showed Manchester and London as the cities landlords expect the buy-to-let market to be most robust, with Manchester being supported by the city’s strong student population and flourishing media scene.
BrewDog warehouse among deals that saved a tough year for commercial property investment
Investment in the Scottish commercial property remained resilient despite a dip in volumes amid political and economic uncertainty, according to new analysis from Knight Frank. There was a decline in the number of deals in 2019, totalling £2.074 billion, 10.38% below the five year average, with the £10 million sale of the BrewDog Hop Hub propping up the sector as one of the biggest deals of the year.
https://www.insider.co.uk/news/brewdog-warehouse-among-deals-saved-21352741