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This Week In Business

This Week In Business

This week kicked off with a positive start for small businesses in the retail sector.

Recent figures from the Confederation of British Industry (CBI) showed that retail sales nationally grew in the months leading up to July. 48 per cent of retailers surveyed said that sales volumes were up in July compared to a year ago, and looking ahead, those businesses are expecting steady expansions in sales and orders over the forthcoming year.

However, the picture in the wider economy is more complex: although as many as four out of five small business owners are predicting growth over the next 12 months, fewer than half of those entrepreneurs are expecting the UK economy to improve over the same period.

Cyber innovation

Small technology firms in the capital could be benefiting from new resources and opportunities in the near future, as the government announced the launch of a new cybersecurity innovation centre based in London. The centre, launched by the Department for Digital, Culture, Media and Sport (DCMS), will include a stream of investment over the next three years to “help make the UK the best place to start and grow a digital business and the safest place to be online”.

The centre, due to open in early 2018, will seek to bring together large firms, start-ups and industry experts to develop the new technologies businesses will need to protect themselves against external online threats. To find out how you can protect your business’s cybersecurity, read our recent blog post.

Recruitment

UK employers could be missing out on attracting the best employees to work in their organisation due to a lack of awareness of their brand, according to a global study.

The findings came from a survey of over 6,500 professionals and 7,700 recent job-switchers, and found that almost two thirds of the UK’s recent job-switchers did not know or knew very little about their current employer before applying to their current job. Small, medium and micro enterprises (SMMEs) are disproportionately likely to be affected by this phenomenon – and may be failing to attract the best candidates for their job openings as a result. Learn more about effective and low-cost means of increasing your pool of talented applicants in our recent blog post.

If you have any questions or would like further information about the range of support on offer in the Building Legacies Programme, please contact Danny Hackett on info@buildinglegacies.co.uk or call the office on 020 7537 6480.

 

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