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This Week in Business

This Week in Business

This week brought encouraging news for London-based small, medium and micro enterprises (SMMEs) in construction and commercial real estate.

Research by Cushman & Wakefield found that a record £9 billion of investment in commercial property in London was made in the first six months of 2017. Surprisingly, this represents an 18 per cent increase from last year, and shows that London property is buoyant against the economic and political turmoil of recent months.

In addition, figures released this week have been a cause for celebration for SMMEs in the manufacturing industry. Output among the UK’s small and medium-sized manufacturers grew at the fastest pace in seven years, according to a survey by the CBI. The same survey also showed that job creation is on the rise, as is optimism among business leaders.

SMME cybersecurity

Falling victim to cybercrime can seriously compromise a business’s information and financial security – but recent research has showed that hardly any SMMEs are taking preventative measures.

Results from the latest Zurich SME Risk Index reveal almost one in six SMEs have suffered from a cyberattack in the previous year. Worryingly, businesses in London are the worst affected, with almost one quarter saying they have suffered a breach within this period.

As the number of attacks increases, so too does the number of threats posed to the financial viability of small businesses. Read our recent blog post to find out about effective and low-cost ways to improve your business’s cybersecurity.

London tech investment

Despite a gloomy picture nationally, an impressive number of equity investment deals are being made in London, with East London businesses benefiting in particular. An impressive £1.7 billion of funds were released in the technology sector, with 388 tech deals signed in London. The top-ranking equity investment cluster in the UK last year was the London Borough of Hackney, followed shortly by Tower Hamlets, indicating that East London’s business landscape is now more attractive than ever.

However, it is unclear how long this will last: the total number of deals reached decreased by 22 per cent on the previous year. SMMEs will still need to market themselves effectively in order to guarantee a steady stream of growth – read our recent blog for advice on doing this.

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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