Economy

Birmingham firms see signs of stability amid challenging environment

Consistency in the domestic and export markets ensured a more stable end to 2023 for Greater Birmingham businesses, according to a major new economic report released this week. Greater Birmingham Chambers of Commerce’s latest Quarterly Business Report reveals domestic sales, export demand and turnover all remained relatively stable during Q4. The report, sponsored by Birmingham […]

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UK’s Investment Association warns of ‘trading bot’ risk to investors

The UK’s Investment Association (IA) has warned investors about the risks of using ‘trading bots’ to make investment decisions. Speaking to the BBC John Allan, head of innovation and operations at the IA said investors should be more cautious about using AI. Alan commented: “Investment is something that’s very serious; it affects people and their

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NatWest loans £420K to local businesses seeking to create local job opportunities

Universal Live, a West Yorkshire locally owned events business that specializes in corporate events, is expanding its business thanks to a £420k loan from Lombard, part of the NatWest Group. The expansion of the Keighley based business will aid in the company being able to create new jobs in the local area.   The corporate events

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New figures reveal the UK job market and pay growth have stalled

Pay growth and the jobs market have both slowed in recent months as the UK wrestles with the Bank of England’s rising interest rates, according to the latest ONS (Office for National Statistics) labour market overview. Wages rose to 7.3%, excluding bonuses, between August and October 2023, showing a slowdown in growth. Despite this, pay

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Landmark Scottish Enterprise and Innovate UK collaboration on Scotland’s innovation economy

Left to Right: Adrian Gillespie Chief Executive ofScottish Enterprise, Susan Aitken Chair of the Glasgow City RegionCabinet & Leader of Glasgow City Council and Indro Mukerjee ChiefExecutive Officer of Innovate UK Scottish businesses are set to benefit from increased support and easier access to funding thanks to a new agreement between Scottish Enterprise and Innovate

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Four in ten SMEs prefer fintech lenders over mainstream banks when seeking business finance

Four in ten (40%) UK small and medium-sized businesses (SMEs) claim it is easier for them to access finance from fintech lenders rather than mainstream banks, according to new research from Sonovate, an alternative finance and payment solutions provider. Alternative finance options increasingly offer a lifeline for UK SMEs, with seven in ten (70%) admitting

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Three quarters of UK businesses struggling to source staff

The post-pandemic hiring boom is in decline as three-quarters of UK businesses admit to struggles with staff recruitment, according to new research from the British Chambers of Commerce (BCC). Hiring intentions were also shown to be continuing to fall last month. The BCC surveyed almost 5,000 companies, and found that 73% had faced hiring difficulties

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Half a million jobs created in Northern Ireland in last 15 years

The Ulster University Economic Policy Centre (UUEPC) has published a new report Job creation in Northern Irish firms. The report takes into account recent debates and movement in policy around scaling, to assess how firms grow rather than why, analysing firms’ growth path, to better understand the growth process. Focusing on employer firm births, the

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Financial services firms’ confidence increases according recent survey

Confidence among financial services has increased for the remainder of 2023 despite a dip in activity during Q3, according to new survey from the Confederation of British Industry (CBI). The CBI’s financial services survey found a balance of financial services firms reporting a rise in output versus a fall was 27%. Though down from 42%

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West Midlands’ business events sector bounces back quicker than UK average

New research into the impact of business events to the West Midlands reveals that the region is recovering from the COVID-19 pandemic quicker than the UK average. In its latest report for the West Midlands Growth Company, data compiled by RJS Associates shows that the region’s business events performance in 2022 – which includes meetings,

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