BUSINESS CONFIDENCE FALLS BACK IN JULY
Business confidence fell back in July after rebounding in June to a 13-month high, according to the Lloyds Bank Corporate Markets Business Barometer. Less than half (46 per cent) of companies were more optimistic regarding economic prospects, a reduction from 51 per cent in June, while those that were less optimistic nearly doubled this month to 27 per cent (from 15 per cent in June). The overall net balance of of optimism dropped 17 points to +19 in July. Trevor Williams, Lloyds Bank Corporate Markets, says: “Confidence took a knock this month, most likely because of the concern about the sovereign debt crisis in our largest trading partner, the Eurozone.”
BORIS WANTS KIDS TO MAKE APPS
The Mayor of London wants kids aged 13-18 to make apps for the web, smartphones and Facebook. The scheme created by a East London arts centre and Seatwave.com wants 60 young people from inner-London to participate in London’s digital sector. The initiative, known as Devcamp, will provide young people with the basic skills required to develop apps. Boris Johnson said: “London's role as digital capital of Europe is dependent upon our future workforce having the skills innovative tech businesses need. Initiatives such as this provide a great model.” For more information see www.richmix.org.uk/devcamp.
SMES FORCED TO RAID THE FAMILY SILVER
Rising business costs are adversely affecting the private lives and personal finances of many SME owners, according to a new study by Make It Cheaper and the Centre for Economic and Business Research (Cebr). The research shows that almost half of small businesses (47 per cent) have had no choice but to inject cash into their company from personal sources this year. Almost a third of small businesses (27 per cent) have had to turn to friends and family for a loan while a quarter (26 per cent) have taken out a personal overdraft, bank loan (22 per cent) or credit card (25 per cent).
A NEW KIND OF START UP CONFERENCE
Investors will pitch to entrepreneurs at a brand new kind of startup conference, taking place on 14 September in Amsterdam. Investors from across Europe and Israel will be in attendance, ranging from seed round angels to VCs and private equity. The investors will explain what they’re looking for in their next investment and startup founders will then book meetings with the investors. This is an invite-only event where only founders (not employees) are welcome. If you’re interested in attending you can apply for a place at www.capitalonstage.com/get-invited