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GM BUSINESS connect
December/January 2018
news
NW Businesses in the dark about GDPR According to Warrington-based learning provider Litmos Heroes its been discovered that 22 per cent of North West businesses haven’t even heard of the new EU regulations, which come into force in May 2018. Just 14 per cent said they could be GDPR-ready tomorrow and almost one in ten admitted they don’t comply with current UK data protection laws. Despite the threat of fines of up to 20 million Euros for noncompliance, more than one in five North West business leaders admit they have never even heard of the
new EU General Data Protection Regulation (GDPR).
With less than six months to go until the wide-ranging new EU regulations come into force, the research of more than 500 UK business leaders and decision makers discovered that 22 per cent of North West businesses are in the dark about the law changes. Just 54 per cent are currently making changes to ensure their business is ready and worryingly, 86 per cent admitted that if the regulation was brought in tomorrow, they wouldn’t be ready. The research also found that three per cent of those asked confessed
that they don’t plan to do anything at all to meet the regulation’s guidelines, despite the May 2018 deadline looming large.
Tom Moore, Managing Director of Litmos Heroes, said that now was the time for North West businesses to act. “I think this study has painted a really interesting – and slightly concerning – picture of how seriously some North West businesses are taking GDPR,” he said. “Make no mistake, the new regulation is coming, and if you handle the data of any EU citizen – Brexit or no Brexit – it will apply to your business. “Around ten per cent of the North
West business leaders included in our survey said they didn’t think GDPR would be strictly enforced, but come May 2018 they still need to be ready, because this is going to be enforced whether we like it or not.” The GDPR was adopted into law by the EU Parliament in April 2016 and, from May 25, 2018, it will apply to all companies processing and holding the personal data of people who live in the EU, regardless of where the business is located. Nationally, almost a third of UK business leaders admit they have never even heard of the GDPR.
Next industrial revolution set to transform more than half a million construction jobs artificial intelligence, autonomous vehicles and robotics, that experts believe represent a new ‘industrial revolution’. According to figures the UK construction industry could see more than 600,000 jobs automated and workers re-skilled for new roles by 2040. The sector could also deliver an extra £25bn annually to the UK economy by 2040 if its productivity ‘gap’ is closed. Mace – the International property consultancy – has outlined three key recommendations to ensure that the UK’s construction sector has the infrastructure to deliver the skills
it needs by 2040. Depending on the pace of technological change, Mace estimates that up to 600,000 jobs in the sector could be replaced by new technology in the next two decades. The research has been published as part of Mace’s latest Insights report, entitled ‘Moving to Industry 4.0: A skills revolution’. Industry 4.0 is the collective term for a range of technologies, such as cloud computing, the Internet of Things,
The report argues that the figures – although only projections – give a sense of the scale of the talent pool that will need to be re-skilled to allow the construction sector to move to Industry 4.0 and embrace productivityimproving technologies. Mace warns that without a major effort to reskill the current workforce and attract a new generation of more tech savvy workers, the construction industry and the UK will lose out on the potential productivity benefits of the next industrial revolution.
The construction sector has long suffered from a productivity gap, where it has failed to match the productivity gains seen in other UK industries. If it was able to properly move to Industry 4.0 and capture just half of the gains made elsewhere in the wider economy it could deliver an extra £25bn a year to the UK by 2040. Improving productivity in the sector would also have a knock-on effect on UK housebuilding and infrastructure delivery, helping to alleviate the housing shortage and ensure that major infrastructure projects are more likely to be delivered on-time and within budget.
Social enterprises and charities encouraged to apply for funding from £4 million fund Social enterprises and charities from across Greater Manchester are being encouraged to apply for investment from a £4 million fund. The ‘Invest for Impact’ fund is dedicated to creating long-lasting social impact in communities around the region by offering finance between £50,000 and £150,000 in the form of grants and loans.
them through the application process. First Ark Social Investment has already approved over £1.4 million with a broad range of charities.
First Ark Social Investment is also an approved Access Point for the Reach Fund which provides smaller grants of up to £15,000. First Ark Social Investment have a team of financial services professionals to The funding can be obtained through assist organisations looking for funding, advising them on the best First Ark Social Investment, who work with social organisations by supporting finance solutions to suit their needs
and maximising their chances of a successful application. First Ark Social Investment have now issued a call for more applications from charities and social enterprises across the North West. First Ark group head of investments, Hannah Jones, said: “The North West social economy has gone from strength to strength over the last 12 months and we’re already starting to see our social investments deliver positive change in
communities across the region. “We are really pleased with the work that we have done over the last year, however, we are always looking to do more and that’s why we are asking charities and social enterprises to speak to us about their financing needs.” Anyone who is interested in speaking to First Ark Social Investment about finance for their social organisation should call 0800 464 0797 and ask to speak to one of the investment team.
