Start-up collapses after three years
5 things we learned yesterday
1 One of the North East’s most hotly-tipped tech start-ups has collapsed after three years in business.
Reframed.tv, which was based at Campus North, Newcastle, offered a platform that synced tweets to livestream video in real-time.
In its short life, the company attracted a legion of admiring fans, not to mention backing from the likes of Steve Pankhurst, founder of Friends Reunited. As it was about to embark on its latest stage of development, however, a potential investment of £350,000 fell through, exposing what its founders now believe to be a flawed commercialisation strategy. 2 Newcastle-headquartered Frank Recruitment Group has opened a new office in Philadelphia. The company, which recruits candidates for the enterprise software market, plans to hire 250 people at the site, most of whom will be recent college graduates interested in becoming recruiters.
With 10 offices spanning Europe, Asia, and the Unites States, FRG employs more than 900 people globally.
The firm, which started life in 2007 with the establishment of Newcastle’s Nigel Frank, now operates six core brands, each focused on different technology products 3 thanks Britain’shave reachto the seena two-yearplunge manufacturersexport in high ordersthe value of the pound following the Brexit vote, a report has said. The CBI Industrial Trends Survey said export orders reached their highest since August 2014, hitting minus22 in July.6 this month, up from minus Total orders came in above expectations, dropping to minus 5 in August, down from minus 4 in July, but above economists’ predictions of a fall of minus 10.
The report said the slide in sterling appeared to be fuelling stronger overseas demand, with chemical manufacturers accounting for more than half of the rise in orders. 4 A has war turned game his enthuasiasthobby into a business with the help of the North East Business and Innovation Centre (BIC). David Ayre, 31, has set up a company designing and manufacturing buildings for table top war games, which he sells flatpacked to other enthuasists of the hobby.
He said: “It all began when I made my own paint stand using a laser cutter. After realising how easy it was to do, I decided to have a go at creating a few prototype buildings to try out on friends and family, which went down a storm. It was then I visited the BIC.”
David worked with BIC business adviser Margaret Cook who helped him to develop his business plan and supported him through the New Enterprise Allowance, a Government initiative which supports people on benefits to start their own businesses. 5 Business confidence has fallen in recent months, with only a minority of firms planning to hire more workers, a new study shows.
A survey of employment agencies found that just one in four will take on permanent staff in the coming quarter.
The Recruitment and Employment Confederation (REC) said its study of 600 employers suggested that most were holding back from making job cuts after Brexit caused confidence to fall.
Smaller businesses were more likely to be planning to hire staff.