P2P LENDING BREAKS THROUGH £2BN BARRIER
The total value of loans processed by Peer-to-Peer lending platforms has now surpassed £2 billion, figures show this week.
Stats from AltFi Data reveal that the sector has shown an annualised growth rate of 158 per cent this year, as businesses and consumers take advantage of this emerging form of finance.
P2P lending allows individuals to lend money as part of a collective, cutting out much of the bureaucracy associated with a middle man.
To put the total figure into context, the total amount leant through P2Ps only passed £1bn in December, and £1.5bn in May.
Giles Andrews is the CEO and founder of Zopa, a pioneer of peer-to-peer lending.
He said: “To surpass the £2bn mark is a massive achievement for the UK market. This has been achieved by UK consumers willing to think outside the banks. What started out 10 years ago as an idea in a bran with Zopa is now one of the most innovative and disruptive industries in the world.
“The UK peer-to-peer lending industry is growing faster than ever and we look forward to continuing to reshape the future of finance in the UK.”
BUSINESS NEWS IN BRIEF
SCOTTISH EXPORTS HIT RECORD £27.9 BN
Despite continuing slow growth in the Euro zone, Scottish exports rose 7.2 per cent in 2013 to hit a record £27.9 billion according to the latest Global Connections Survey. Says Anne MacColl, chief executive of Scottish Development International,
“We’re on track to meet targets to grow Scottish exports by 50% by 2017”.
KEYNOTE CONFERENCE ON REGULATION
Make a date for the next Reform Scotland conference on Monday March 23. This will explore the changing role of regulation and scrutiny in Scotland. Speakers include the Advocate General for Scotland, Lord Wallace, and Professor Lorne Crerar, author of the 2007 Independent Review of Regulation, Audit, Inspection and Complaints Handling of Public Services in Scotland. The conference will examine new devolved powers and responsibilities and the implications for regulators and the regulated. Reform Scotland Members will receive a 10% discount when booking - just quote Reform10 – when booking online on the website
http://www.mackayhannah.com/conferences/the-changing-role-of-regulation-and-scrutiny-in-scotland. More details: contact Jane on [email protected].
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TELL US MORE!
Do you have a new product/service about to launch? An event to promote? A conference or meeting date for the diary?
Send details to [email protected] marked ‘attention notice board’. Key details required are what/when/where/why/how - and don’t forget contact details and links.
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FREE BRIEFING FOR FIRMS ON CHANGES AHEAD
The legal landscape for companies is changing rapidly, and with it the responsibilities of being a company secretary, director or professional advisor. In particular, the Small Business, Enterprise and Employment Bill, when it becomes law, will bring major changes - from annual returns through to the appointment of directors. A highly practical free seminar from Jordans in Scotland on Wednesday March 4 at the Double Tree Hilton, Edinburgh City Centre, 8.30am to 11.30am is designed to give you the facts and context you need to ensure you will be equipped for the changes ahead. There will be ample opportunity for discussion and questions on all topics. To reserve your FREE place, simply complete the booking form or to find out more contact[email protected]and athttp://www.oswalds.co.uk/about/training-and-events
SCOTT LOGIC PLANS STAFF BOOST
Scott Logic, based in Edinburgh, Newcastle, Bristol and London, has launched into the New Year with a 30% growth in revenue to £9.1 million in 2014. The strong performance delivers a solid platform to grow its workforce by 50 per cent this year. It has won several large profile clients in the finance, healthcare and energy trading sectors. The company prides itself on its highly skilled and qualified people and nurtures young talent through graduate and intern pprogrammes now open for applications, with places being filled fast. Further details: www.scottlogic.com
£250,000 BUZZ FOR HONEY BEES
Scottish bees will be in a buzz thanks to a loan from the Social Growth Fund. Kelvin Valley Honey, which sells honey-based products and provides equipment and training to budding bee keepers, will expand and diversify its business through the £250,000 funding boost. The plans include expanding the Beekeeping for Business scheme, which has already seen beehives installed at the Scottish Parliament and Linlithgow Palace, the creation of a new workspace and advice service for social entrepreneurs and the introduction of an interactive tourist centre. Profits from Kelvin Valley Honey will be put towards the £1 million transformation of a 42 acre former coal mine pit into Scotland’s first commercial community-owned market garden near Kilsyth, North Lanarkshire. Further details: www.socialinvestmentscotland.com and http://www.kelvinvalleyhoney.org.uk.
NEW MEDIA BREAKFAST FEBRUARY 12
Don’t miss WeDo Scotland’s New Media Breakfast: Utility Marketing – make it useful or don’t make it! Date: Thursday February 12. Time: 7.45am to 9.30am. Where: Tigerlily George Street, Edinburgh. It will look at Utility Marketing - creating genuinely useful or functional content. It could be in the form of an App, White Paper, News Feed, Video, Podcast, website, or blog, but it has to be functional, and fulfil a purpose that does not include a direct sales offering. We will look at good examples of Utility Marketing and offer ideas where businesses of all sizes can adopt an element of this as part of their digital culture. Co-presenters: Gordon White MD of fatBuzz, and Tim Barlow, MD of Attacat. Ticket booking and details at www.wedoscotland,com.
£1.5M FOR EDINBURGH-BASED CLOUDSOFT
Maven Capital Partners on behalf of the Scottish Loan Fund has committed £1.5 million to Edinburgh-based Cloudsoft Corporation. The firm has developed a valuable software platform for the cloud computing market which it predominately licenses to blue-chip clients. A growing number of companies are moving their software applications to the cloud to reduce costs and improve performance and agility. Cloudsoft’s key product is its Application Management Platform which streamlines the development and operation of cloud applications. Since Cloudsoft was founded in 2008 by Duncan Johnston-Watt, Alex Heneveld and Derek Gray, the business has grown steadily and with the cloud software market expected to be worth over $75 billion by 2017. Further details atwww.mavencp.com
UNIVERSITY Li-Fi SPIN-OUT
Old College Capital (OCC), the venture investment arm of the University of Edinburgh, has invested £250,000 in university spin-out company, pureLiFi. The firm develops wireless communication products based on visible light communication technology developed by Professor Harald Haas, Chair of Mobile Communications at the University of Edinburgh. The investment is part of a £1.5 million co-investment with London & Scottish Investment Partners and the Scottish Investment Bank (SIB) in a deal managed by Edinburgh-based corporate finance firm Quest Corporate. Website: www.research-innovation.ed.ac.uk
COPYRIGHT CONFERENCE DATE FOR THE DIARY
Have copyright laws kept pace with the digital age? How can the creative industries and cultural heritage sector best protect the ownership and management of written and recorded materials when content can be shared globally with the tap of a smartphone? At a Scotsman Conferences event on February 2 speakers from the British Library, UK Intellectual Property Office and leading universities discuss changes and challenges in Copyright and Cultural Heritage 2.0: Protecting creators, sharing content. Speakers from the British Library, UK Intellectual Property Office and leading universities discuss changes and challenges. Further details at www.scotsmanconferences.com.
Economy Forecast
27 Jan
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DROPPING A CLANGER - 1,820 TIMES A YEAR
If you made a mistake this morning, don’t despair. New research reveals that we make an average 35 mistakes every week – or 1,820 blunders a year.
A study of 2,000 adults found almost half feel like they make a lot of mistakes in everyday life with calling someone by the wrong name the most common slip-up.
Buying the wrong things, or getting something in the wrong size, forgetting someone’s birthday and typing in your credit card PIN number incorrectly feature in the top five.
A list of the top 30 most common mistakes we make suggests many of us live from one blunder to another with little by way of a break in between.
Most comprise minor slip-ups. But others admitted to more serious blunders like having an affair and doing something illegal. Some even considered getting married to be a mistake they have made.
It also emerged more than one in three have faced drastic consequences after a gaffe cost them their relationship, job or even their home.
Top 30 most common mistakes:
1.Called someone the wrong name
2. Bought the wrong thing
3. Bought the wrong size of clothing
4. Forgot someone’s birthday
5. Typed in your credit card pin incorrectly
6. Put an item of clothing on inside out
7. Not followed instructions/recipes
8. Sent a text message to the wrong person
9. Not set your alarm
10. Missed a train
11. Forgot to lock your house
12. Written an e-mail and deleting it by accident before sending
13. Lied to a partner
14. Forgot to lock your car
15. Not put money aside/into savings
16. Measuring something wrong when doing DIY/Buying new furniture
17. Sent an email to the wrong person
18. Missed a deadline
19. Hit the alarm off button instead of the snooze button
20. Sent the wrong attachment
21. Bet too much money and lost it
22. Drove down a one way street
23. Did something illegal
24. Got on the wrong train
25. Got married
26. Not gambled money on something, which then went on to come in
27. Messaged your ex
28. Had an affair
29. Lied on my CV
30. Lied in a job interview.
Any others? Let us know!
