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Industry reactive: the steel industry could make 24,000 workers redundant

May 22nd, 2019 Comments off

Following the news that the steel industry in the UK needs to find a £30m cash injection or it’s likely to face administration, potentially affecting 24,000 jobs through Scunthorpe steelworks and its supply chain, Dilusha Hettiralalage, Consumer Savings Expert at www.Codes.co.uk, commented:

“The issues with the steel industry have been well documented since 2017 and in all honesty it’s done well to continue on for as long as it has. It’s a significant part of UK heritage and industrialisation, and it’s hard to imagine a UK without British Steel, but right now we need to be thinking about the 24,000 workers who could be left jobless if the second-largest steel producer in the UK is to close its doors.

“Our hearts are with those right now in limbo, unsure of what is happening and if they will have a job by the end of the week. Whether they’re single, married, have children or don’t, it’s never ideal to lose your job – especially ahead of the summer holidays, a notoriously expensive time of the year. One must also appreciate the fact that many steel workers have been operating in the industry since leaving school as teenagers, and have built up a very specific and niche set of skills that aren’t transferable to many other job roles if they are made redundant.

“£45m has already been injected into British Steel from shareholder Greybull Capital, so whilst things are looking positive, will this be the last time that the industry faces this issue and jobs are put on the line? It’s doubtful. We wouldn’t recommend everyone jumps ship if the company is able to be saved this week, but maybe it’s time for workers to consider branching out and learning a new trade or transferable skills so that they are as employable as possible, should they find themselves without a job.”

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Best Regions for Construction Startups

May 22nd, 2019 Comments off

1. North East

  • Regionally, the North East has the smallest percentage of construction companies (15%).
  • Just 6% of the region are employed in this sector – which is 2% lower than the national average.
  • But despite the North East’s construction industry being much smaller than other regions, it shares 12% of the area’s turnover across all industries.
  • From a wider outlook, it also contributes 3% to the British construction turnover – showing the area it has plenty of room to grow, too.

2. Scotland

  • Construction only accounts for 16% of the area’s turnover across all industries – which is 2% lower than the UK average.
  • More construction workers are also needed to address Scotland’s housing shortage, which means there is little competition.
  • Official figures from the Scottish government show that the economy grew by 1.3% in 2018, which proves that there is profit potential.

Interested in the full findings? https://www.workweargiant.co.uk/blog/best-region-to-start-a-business-in-each-industry/

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