Business News Round Up (31/08/2020)
New £2bn national bank sets digital aims as part of ‘mission-oriented’ approach to investment
Scotland’s digital infrastructure and technology enabled health and care sector is set to benefit from a new £2 billion national investment bank. Plans released for the Scottish National Investment Bank (SNIB) show that as part of a ‘mission-oriented’ approach to financing projects that align with strategic government goals, digital technologies form a significant part of those long-term aspirations. The core missions focus the Bank’s activities on addressing key challenges and creating inclusive, long-term economic growth. This will enable the Bank to play a significant role in supporting Scotland’s economic recovery from coronavirus (COVID-19).
North West business confidence continues to rise – Lloyds
Business confidence in the North West increased during August, according to new data. The latest Business Barometer from Lloyds Bank Commercial Banking shows that companies in the region reported higher confidence in their business prospects month-on-month at -8%. When taken alongside their views of the economy overall, this gave a headline reading of -10%. When asked about the impact Covid-19 was having on their business, the majority continued to see demand negatively affected during August but with the picture improving month-on-month. A total of 58% experienced a fall in demand for their products and services, down 12 points on the month before. Meanwhile, 17% experienced an increase in demand, up ten points on July.
https://www.insidermedia.com/news/north-west/north-west-business-confidence-continues-to-rise-lloyds
Scotland’s IT & Digital Sector Ready to Lead Economic Recovery, Survey Finds
A new survey has measured the impact of Covid-19 on Scottish companies, indicating a boost to the IT and Digital sector. The survey, by recruitment company BeIT, found redundancy and furlough data from Scotland’s IT and digital businesses suggests the sector is ready to help kickstart economic recovery across the country. While the poll highlights the significant impact of the pandemic, several positive indicators also emerged. More than half (57%) of survey respondents said they would not make redundancies and 43% intended to bring furloughed staff back early, while almost three-quarters (72%) expected to resume recruitment.
https://digit.fyi/scotlands-it-and-digital-sector-could-help-economy-to-recover/
Capita to close over a third of offices permanently
Outsourcing firm Capita is to close over a third of its offices in the UK permanently, the BBC understands. The firm, which is a major government contractor, is to end its leases on almost 100 workplaces. Business lobby group CBI has warned that the fall in office working is damaging city centre economies. The BBC understands that Capita, which manages London’s congestion charge, has been looking at various measures to help it simplify its business for some time, such as embracing more flexible working, which is supported by its employees. So far, Capita has decided not to renew leases on 25 offices.