Business

Manchester media publisher BGFG on major recruitment drive after £1m investment

A thriving gaming and tech publishing house in Manchester has secured over £1 million in angel funding..

The Manc The Manc - 12th March 2021
By Gamers For Gamers has over 30 roles available

Thriving Manchester gaming and tech publishing house By Gamers For Gamers (BGFG) has secured over £1 million in angel funding – embarking on a major recruitment drive as a result.

The local firm captured the imagination of several high-net-worth individuals during an investment round in 2020 – acquiring a seven-figure sum that’s funding significant expansion.

BGFG is now looking to attract a bigger team of talented people to its Manchester-based HQ – creating 35 multimedia and digital content roles in the process.

The firm specialises in PC tech, gaming and Esports news as well as reviews and tech advice – attracting millions of readers every month.

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Founded in April 2019 by brothers Andrew and Craig Kirkcaldy and Will Blears, BGFG quickly turned the heads of some noteworthy entrepreneurs including Bill Holroyd – one of the original investors in appliances firm AO.com.

Founder of Usespace David Walter has also put money into the firm – with institutional investment coming from GC Angels.

According to BGFG owners, the funding will fast-track the firm’s growth and support its mission to enhance Manchester’s reputation as an economic powerhouse in digital and creative industries.

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Co-founder Craig Kirkcaldy said: “Securing the angel investment is a massive step forward for BGFG as we approach the second anniversary of the business.

“Our growth trajectory has been incredible since we launched and that has enabled us to recruit some of the best people in the UK gaming marketplace.”

By Gamers For Gamers offices

BGFG currently employs 20 people but despite reporting a £545K turnover during 2020, growth so far has been self-funded.

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Craig stated: “Pitching to investors is a challenge at the best of times but the landscape is very different under the various lockdown restrictions we have seen over the last few months.

“We found a specialist broker who was able to make the right introductions, which was very important to our success, and then most of our pitches were over Zoom.

“Pitching can be nerve-wracking but it’s all about preparing well, knowing your numbers and your business plan and sticking to the script.

“You’ve probably only got 15 minutes and you have to be concise and to the point and you have to stand out. You have to understand that the investor may be listening to 15 pitches a day so yours needs to be memorable – for all the right reasons.”

The BGFG pitches indeed proved to be a huge success – and an exciting future lies ahead for the company as a result.

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“We have some exciting and ambitious plans for how to develop,” Craig explained.

“We have found some great investors who share our vision and see the potential in where we can take this business.”

To view the roles currently available at BGFG, head over to the company website.

Business

Everything you need to know about Kwasi Kwarteng’s mini-budget 2022

Danny Jones Danny Jones Chancellor mini-budget summary

The Chancellor of the Exchequer, Kwasi Kwarteng, has delivered his 2022 mini-budget in an attempt to address concerns surrounding the ongoing cost of living crisis.

While significant tax cuts were already predicted ahead of the crucial economic update, many people across the country may have been surprised by the sheer extent of measures announced by the chancellor across the board.

Energy

Addressing the subjects on everyone’s mind early on, Kwarteng stated that the annual price of energy for UK households will now be limited to £2,500, resulting in savings of around £1,000 against the projected figures following the most recent energy cap.

He also confirmed that the £400 energy discount is still in place, with the most vulnerable homes receiving even more in government support. Some are less than convinced that any real ‘savings’ will be made.

Earlier this week, the government announced that they would be halving energy bills for businesses over the next six months. Today he confirmed that a relief scheme will be put in place, as well as an “energy market finance scheme” which will offer liquidity to traders.

Similar relief will be afforded to schools and charities.

Lending and inflation

The hope is that this overall energy plan will reduce inflation, which currently sits at 9.9% based on August’s figures, to 5% and see the trending rate of annual financial growth to 2.5%.

Not only does the government believes this will lower the wider cost of living pressures but also free up finances to help better fund public services.

The overall energy relief package is said to be costing approximately £60 billion, meaning a significant amount will have to be borrowed from the Bank of England.

Bankers’ bonuses cap and corporation tax hike scrapped

On the subject of banks, one of the most controversial parts of the Kwasi Kwarteng’s update was the announcement that the cap on bankers’ bonuses will be scrapped entirely, arguing that previous measures only led to higher wages and people paying tax in other countries outside of the UK.

Next year’s scheduled corporation tax increase from 19% to 25% is also going to be scrapped, the rationale being that “low tax encourages investment” both domestically and from overseas.

Once again, people are less than impressed that the nation’s highest-earners appear to be the ones benefiting the most from government policy.

Removing red tape

The chancellor also said that the government are committed to removing further enterprise barriers caused by EU regulation, hoping to streamline “planning restrictions” across childcare, immigration, agricultural productivity, and digital infrastructure.

He sighted energy, telecoms and travel as key problem areas hamstrung by red tape.

However, he conversely criticised the ongoing strike action across the country and said that they plan to imitate other countries by introducing legislation to ensure minimum level service resumes.

Tax cuts

Elsewhere, businesses in nearly 40 different ‘designated zones’ have been promised tax cuts for the next 10 years and no stamp duty on new premises. Speaking of which, as of today, no payment will be required on the first £250,000 of a property’s value, with first-time buyers paying zero on the first £425,000.

In fact, it looks as though the overall tax system is set to be reviewed once again. Not only are previous corporation tax and stamp duty plans being scrapped but income tax, alcohol duty and more are all being reexamined as part of the not-so mini-budget.

Alcohol duty is set to be frozen in February, meaning that Brits can expect to save around 7p per pint, 38p per bottle of wine and £1.35 on spirits. VAT-free shopping is also due to be introduced for overseas visitors, with aim of increasing revenue from tourism.

Kwarteng also confirmed that the basic rate of income tax will be cut by 1p to 19p from April 2023, with the 45p tax rate for those earning over £150,000 will be abolished from the same time next year.

This is said to be the biggest series of tax cuts in 50 years.

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A wary winter

Despite the ‘real’ living wage being increased by 10% in an attempt to try and curb rising costs in almost every other walk of life, it goes without saying that the UK faces an extremely difficult period ahead as energy costs continue to rise, post-Brexit prices keep rising and we approach the ever expensive winter months.

The shadow chancellor Rachel Reeves told the Financial Times that regardless of the measures announced today, both the mini-budget and Liz Truss’ appointment as Prime Minister represents “another zigzag on a path of policy failure” rather than any real sign of change.

Featured Image – Flickr @ Policy Exchange

Business

Bolton Wanderers to rename the University of Bolton Stadium

Danny Jones Danny Jones Bolton Wanderers to rename UniBol Stadium

Bolton Wanderers have announced that they are poised to change the name of their stadium for the third time in eight years with the help of consultants, Sporting Group International.

The Trotters will be enlisting the help of the Birmingham-based commercial partnerships and recruitment specialist to search for a new naming rights deal as the University of Bolton‘s contract is set to expire.

Colloquially known as the UniBol Stadium since 2018, Bolton’s home had previously been under the moniker of Italian sports brand and current kit sponsor Macron. However, for many, the Greater Manchester ground has always been synonymous with the Reebok Stadium despite their deal ending in 2014.

Credit: Wikimedia Commons
Credit: Flickr @Reading Tom
Bolton’s previous stadium partners

Nevertheless, Sporting Group International (SGI) is being charged with finding a new stadium partner to whack their name on the front of the 28,732-seater stadium, as reported by Bolton News.

Bolton moved from their original Burnden Park home back in 1997, where they had played their home games since 1895. The ground was the site of the infamous 1946 crush and was also featured in a famous Lowry painting now due to be sold next month.

The club nearly disappeared entirely when it fell into insolvency along with Bury FC back in 2019 and has been looking to find stability ever since.

While the latter was ultimately expelled from the EFL in 2019 and the supporters’ trust had to purchase their Gigg Lane stadium and trading rights to bring it out of administration – with phoenix club Bury AFC also sprouting from the historic team – Bolton was saved in the eleventh hour by outside investment.

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Purchased by Football Ventures just before the deadline, Bolton Wanderers look like they might be starting to find their feet again, having gone from fielding a team featuring 14 and 15-year-olds to sitting fifth in League Two after nine games.

The club’s chief executive Neil Hart said in a statement: “[SGI] has worked with multiple global brands and we see this as an excellent opportunity to work together on the new naming rights agreement for the stadium and securing an excellent new partnership for the club.”

As for SGI themselves, the organisation said they are excited to be working with “one of the finest UK football venues outside of the Premier League”, which hosted everything from Elton John, Coldplay and Oasis concerts to England’s upcoming Rugby World Cup fixtures in October.

Featured Image – Bolton Wanderers FC

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