Business News Round Up (30/07/2020)
£1.9 billion of lost Scottish retail sales during pandemic – according to SRC analysis
Scottish retailers lost £1.9 billion in sales in the first four months of the coronavirus pandemic, according to research from the Scottish Retail Consortium (SRC). Scottish retail sales recorded four successive months of double-digit decline between March and June. The analysis, based on Scottish Government and SRC data, shows the sheer scale of the retail sales that were lost during this period compared to the same period last year. The performance of Scottish retail sales improved in June compared to recent months but was still down almost a fifth on the same period last year and lagged behind that of the UK as a whole.
Government announces £3.6m in new grants for North West businesses to support Covid recovery
Small and medium sized businesses across the North West are set to benefit from £3.6 million in new grants as they restart and recover from the effects of the coronavirus pandemic, the Government has announced. Grants of £1,000 to £5,000 will be available for businesses in Cheshire and Warrington, Cumbria, Greater Manchester, Lancashire, and the Liverpool City Region to pay for specialist advice such as legal, human resources and financial expertise.
https://www.business-live.co.uk/economic-development/government-announces-36m-new-grants-18683951
Outlook for Scottish economy remains challenging as sentiment amongst businesses improves
As lockdown restrictions begin to ease and the economy starts to open back up, sentiment amongst the Scottish business community is showing some tentative signs of improvement. The Addleshaw Goddard Scottish Business Monitor found that, despite economic uncertainty, the volume of business activity is expected to recover over the rest of the year. Business sentiment around areas such as operation capacity and employment levels is expected to depend largely on factors around how the country continues to contain COVID-19 over the coming months, as well as Scottish policy reacts to the spread of the virus.
https://www.insider.co.uk/news/outlook-scottish-economy-remains-challenging-22436265
City highlighted in global ranking for real estate transparency
The Global Real Estate Transparency Index published by real estate adviser JLL and real estate investment manager LaSalle has revealed that Manchester was among the world’s most transparent market for real estate. The research cited that the UK market is pushing the boundaries of transparency through technology, a focus on sustainability, anti-money laundering regulations and enhanced tracking of the alternative sectors. The report also featured London, Birmingham, Edinburgh, and Glasgow as some of the top 15 most transparent cities.