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Top story
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Help small businesses, urges FSB
As the UK officially slides into recession, the Federation of Small Businesses (FSB) has called on the government to implement its five-point plan to help small and medium-sized businesses receive the support they need to tackle unemployment. The blueprint, which the FSB believes could not only keep people in jobs but also create over 400,000 new ones, includes: simplifying legislation; cutting payroll taxes; promoting part-time work; providing more opportunities for small businesses to bid for public contracts; and investing in training apprentices. Paul Henly, policy manager for the FSB in the North West, said: “Small businesses are the engine room of the economy and are in a key position to generate new jobs and avoid further redundancies.”
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Today's news
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Adidas consolidation spells bad news for Bolton
Reebok, the sportswear company founded in Bolton in 1895, is considering severing its ties with the town. A statement by Reebok’s parent group, Adidas, said: “It is a proposal at this stage, but it is our intention to relocate the offices based at the Reebok Stadium to Adidas offices in Stockport.” The company said there would be some redundancies. Reebok occupies 42,000 sq ft at the stadium, having added to its space by moving staff in from Lancaster two years ago.
Morson to meet expectations
Techincal recruitment agency Morson has said that pre-tax profit for 2008 will be in line with market expectations. The results for this period will include a non-cash exceptional financing cost relating to the group’s hedging arrangements, which will amount to around £1.6m. Eccles-based Morson intends to announce its preliminary results in the week commencing 30 March.
Biomass boost for business
Envirolink Northwest is hosting a £750,000 project funded by the Northwest Regional Development Agency (NWDA) to increase the uptake of biomass energy systems by the region’s industries. The programme will work with energy-intensive industries, particularly those that are already engaged with the Carbon Trust and are subject to the EU Emissions Trading Scheme. The project, which will run until 2011, is being coordinated by senior sector development manager Nigel Blandford, who has joined Envirolink on secondment from The Mersey Forest.
In Touch with innovation
Morecambe company In Touch, whose software is used to keep motorways and trunk roads free from ice has used the Knowledge to Innovate (K2i) programme to identify an intermittent problem with one of its communications software products using Six Sigma. Funded by the Northwest Regional Development Agency, the K2i team offers companies professional mentoring at no charge in order to overcome barriers to innovation. In Touch works in conjunction with Lancaster University to develop 3G mobile communications software for the highways industry and its client list includes several local authorities and Carillion.
Protect your brand in a downturn
Every company should be aware that its brand forms part of its intellectual property (IP) and considering the value of a brand is an essential way to help maintain competitive advantage and market share in an economic downturn. Gary Johnston, a partner at law firm Mathys & Squire’s Manchester office, said: “Innovative companies who use their IP commercially and creatively do much better in a downturn than those who turn a blind eye. Woolworths and MFI are examples of companies whose value as established British brands has been appreciated too late.”
New lawyer for Salford
The University of Salford has expanded its legal team with the appointment of Lindsay Harris as university solicitor. Harris joins from Manchester law firm Kuit Steinart Levy, where she worked as a commercial law and contracts specialist.
Aussies to camp in Manchester
Manchester has been selected as the training camp for the Australian Olympic Swimming Team in the run up to the London Olympic Games in 2012. Swim Australia has signed a long-term deal with Manchester City Council, which will see them train at the Manchester Aquatics Centre in preparation for at least three major competitions until 2014. The deal has been supported by the Northwest Regional Development Agency and adds to the announcements in late 2008 that Thailand and the 15 Pacific Island nations in Oceania have agreed to base themselves in the region.
Cyprotex trading ahead of forecasts
Macclesfield-based drug discovery company Cyprotex has announced that its full-year net profits will beat market forecasts after trading in November and December 2008 was stronger than anticipated. The company recorded a net profit for the first time last November, posting £56,000 for the first half of the year on revenues up 33 per cent at £2.25m. As the global drug discovery industry has been tackling the credit crunch and tightening regulations, Cyprotex has been able to prosper under conditions that force industry players to maximise their operational efficiencies by outsourcing non-core activities.
Music events boost hotel market
The North West’s hotel market remained buoyant during November as large-scale music events helped to keep occupancy rates high. According to figures released by accountancy PKF, Liverpool’s occupancy rate was the highest in the UK at 81.7 per cent and, like Manchester’s 76.8 per cent, easily beat the regional UK average of 69.4 per cent. Average room rates in both cities also topped the regional UK figure of £75.41. “In addition to the MTV awards, staged at the Liverpool Echo Arena, we suspect concerts in Manchester by acts such as Duffy, Kanye West and Estelle, also helped to keep the bookings coming across the region,” said PKF partner Jane Jackson.
Funding boost for Cumbria’s university
The University of Cumbria is set to benefit from a new £26.7m funding package over the next eight years that will seek to encourage graduate retention in the area and help people move to higher value employment. The new funding, confirmed today by the Northwest Regional Development Agency, follows a £9.3m investment announced by the agency in July 2007 before the university’s official launch on 1 August 2007.
King joins GVA
Mike King has joined GVA Grimley in Manchester as a director in the valuation service department and head of compulsory purchase and compensation. King, who left Cushman & Wakefield in a round of redundancies in late 2007, also acts as an expert witness in matters of litigation. Roger Phillips, director and regional head of valuation, said: “Mike is a highly respected and trusted professional who has over 25 years’ experience of the North West property markets.”
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Something for the weekend
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Deal of the week
No contest this week. The merger between Britannia Building Society and Co-operative Financial Services is groundbreaking in more ways than one. It’s the first time a consumer cooperative and building society has been allowed to merge, under new legislation, and sends a strong message to the banking sector. Chief executive of CFS David Anderson, who will be leaving following the integration, believes that now is the right time for something different in the financial services arena. “The cooperative and mutual movements have never been more relevant. Owing to the damage done by the credit crunch, people have been crying out for a new way of doing business with a financial organisation of substance that truly has their interests at heart.”
This is Rio’s life
Wow, another entrant to the digital media marketplace? And it’s none other than Manchester United star Rio Ferdinand, who will next month launch a 24-page digital magazine called, wait for it, Rio. Content will include celebrity interviews with icons of sport, music, fashion, film and TV, technology, cars and travel. Editor Iestyn George said: “The magazine aims to give a snapshot of the world that Rio inhabits.” What, Alderley Edge?
“Pope Catholic” survey of the week
Where would we be without surveys? One conducted by Manchester-based Bridging Finance, of 3,000 businesses, revealed that “cash flow is now the primary concern of businesses facing up to the effects of the economic downturn”. Never would have guessed that.
Canapé won’t pay
A bumper crop this week. On Monday Salford’s Lowry played host to a massive swarm of media luvvies gathered to hear the wise words of the BBC’s head honcho for the move north, Peter Salmon, and didn’t disappoint. Rice Flame Bar & Grill had the big launch for its new restaurant just off Oxford Road on Wednesday, complete with sake, a fire eater and tasty treats all round. But the winner is insurance outfit Lockton’s party at its new Spring Gardens base, where service came with a charming and insistent smile. Top hole!
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