Business News Round Up (31/07/2020)
Shop vacancy rate set to increase as lockdown takes toll on the high street
Retailers in Scotland are demanding more support as the coronavirus pandemic is expected to increase the number of shop closures. New data from the British Retail Consortium (BRC) has not revealed the full impact of the crisis on businesses, with the shop vacancy rate in Scotland of 12.9% in the second quarter of the year mirroring the figure from the first. According to the findings from the BRC, Scotland was ranked fifth of all UK regions for retail vacancies. Greater London was first with 9.1% vacancies, and the north east of England was in last position with 16.6% of shops empty. However, the figures show vacancy rates in the second quarter were worse north of the border than they were in England, where the collective rate was 12.4%.
https://www.insider.co.uk/news/shop-vacancy-rate-set-increase-22442770
Manchester and Liverpool office take-up plunges as Covid continues to hit markets – but there is some good news
Office take-up in Manchester and Liverpool was well below average in Q2 as markets continued to be hit by the coronavirus crisis, new data from Avison Young has revealed. Figures from the latest Big Nine report has revealed that take-up in Liverpool was just 20,00sq ft in Liverpool in the second quarter, while Manchester was 209,000 sq ft. The figures from the report covering the nine major cities outside of London, were all well below the quarterly averages, with Avison Young executives blaming the lack of movement on the “significant impact” of Covid-19. Despite that, out-of-town take-up saw an increase in both cities.
https://www.business-live.co.uk/commercial-property/manchester-liverpool-office-take-up-18686728
BT announces support for Scottish SMEs
BT is to offer support to small businesses in Scotland in order to help them recover and grow following the COVID-19 scheme. The Small Business Support Scheme will see the telecoms giant introduce a range of new measures to help small businesses boost their connectivity, cashflow and confidence. BT’s action plan includes a commitment to pay its 4,500 small business suppliers promptly and within 30 days of being invoiced, to helping firms fund the cost of ultrafast business connections, as well as access to free resources such as business mentoring, digital skills, marketing tools and mental health support.
https://scottishbusinessnews.net/bt-announces-support-for-scottish-smes/
Funding boost for UK tech innovators to seize opportunities of 5G technology
The next wave of government-funded research and development projects aiming to put Britain at the forefront of 5G technology have been announced. Projects in Sunderland, Preston, Liverpool, Manchester, Brighton, and Suffolk will test what revolutionary high-speed connectivity can do for UK industries. The projects will receive a share of £30 million through 5G Create, an open competition combining British creativity with innovative new uses for 5G as part of the wider £200 million 5G Testbeds and Trials programme (5GTT). The government is pushing ahead with its plans to unlock new economic benefits and productivity boosts from 5G while commercial rollout continues at pace. It has now funded 24 5G testbeds across the UK, which have trialled almost 70 different 5G technologies, products, and applications. Today’s £30 million package consists of £16.4 million from the government match-funded by organisations ranging from large tech and telecoms companies to SMEs and local authorities.