Angus Robertson has welcomed a new agreement which will strengthen business links between Scotland and Ukraine and support the recovery and reconstruction of Ukraine.
A Memorandum of Understanding between the Scottish Government and the Ministry of Foreign Affairs of Ukraine commits the two governments to strengthening trade and investment links through information exchange and practical support for businesses working in both countries.
Total trade in goods between Scotland and Ukraine was worth £38.4 million in 2024. A number of Scottish companies are supporting Ukraine’s efforts to rebuild, including Coatbridge-based Cairnhill Structures Ltd which has supplied fabricated steel to rebuild two bridges in Kyiv destroyed during the Russian invasion.
The signing took place during a visit to Scotland by a delegation of more than 60 Ukrainian mayors and business representatives.
External Affairs Secretary Angus Robertson said: “Scotland is deeply committed to supporting Ukraine, whose men, women and children are putting their lives, their freedom and their prosperity on the line to defend their country – and all of our democracies.
“The Memorandum of Understanding we have signed today will strengthen the trade and investment relationship between Scotland and Ukraine, helping businesses in both countries to grow through the exchange of ideas, knowledge and practical support for businesses working in-country.
“We want to learn from each other to make the most of our combined strengths, from e-commerce, to green energy technologies and innovation in agrifood. Scotland stands ready to support Ukraine to recover and rebuild from the damage caused by Russia’s barbaric aggression.
“We will work with the UK Government and our international partners in support of Ukraine’s long-term future, her sovereignty and social and economic prosperity.”
The Consul of Ukraine in Edinburgh Andrii Madzianovskyi, who signed the agreement on behalf of the Ukrainian Government, said: “For Ukraine, this partnership opens new avenues for investment, technology exchange, and access to high-value markets.
“For Scotland, it provides opportunities to expand its business presence in Eastern Europe, diversify partnerships, and support Ukraine’s recovery and growth.
“We wish to see increased bilateral trade and joint business projects as well as stronger business networks and institutional ties. There will be promotion of innovation, sustainable development, and entrepreneurship and enhanced mutual trust and international cooperation.
“This agreement signals a commitment to long-term collaboration and mutual prosperity.”
Scottish EDGE returned for its 25th round as 35 winners with high-growth potential took home £1.5 million in prize money.
The awards ceremony was hosted by Royal Bank of Scotland at Citation in Glasgow city centre and united entrepreneurs who made it through the competitive pitching process to secure funding.
There were 8 different winners from Edinburgh, each benefiting greatly from their share of the £1.5m prize find. Those Edinburgh businesses are:
GoodBridge App LTD
Amytis
Broonie Limited
Swift Aeronautics Ltd
Raygonal Ltd
VibraSpex
Glitchers Lab
JAC Trades ltd, Trading as The Cycling Gardeners
Deputy First Minister, Kate Forbes, delivered a special message congratulating the winners and acknowledged the vital role entrepreneurs play in shaping Scotland’s future economy. In her remarks, she highlighted the passion, creativity and determination of all the entrepreneurs who made it to the finals.
The biggest winner at the awards was Vanilla Farms, who cures and supplies premium-quality vanilla using sustainable, high-tech agriculture. The business received a total of £150,000 from the newest addition, Missions EDGE, supported by Scottish Enterprise.
Veteran awards categories also returned for the 25th round, with the £100,000 Scale EDGE Award, supported by Royal Bank of Scotland, going to accredited Royal Yachting Association (RYA) training centre, Ardent Training.
Meanwhile, Shifted Group and Swift Aeronautics secured funding as the top £15,000 Young EDGE Winners, supported by Techscaler and IOE Foundation respectively.
Those successful in Wild Card, which provides grants to pre-trading businesses, included digital game apparel designer, Haggis Studios, who received the category’s top £15,000 award.
The STV supported award of £70,000 plus £75,000 worth of ad airtime was given to innovative kitchen provision maker, Goat Rodeo Goods, while Green Crop Tech, an agritech start-up developing a dual-action biostimulant, emerged as winner of the Scottish Government backed Pathways category, winning £70,000.
Round 25 also saw the return of the £100,000 Circular Economy EDGE Award, which is supported by Zero Waste Scotland, and went to New Found Hope for its therapeutic footwear innovations to address the issue of toe-walking in neurodivergent children.
Narture CIC, who bakes artisan sourdough while supporting community, creativity, and social inclusion, won £75,000 in the Social Enterprise category, supported by the Postcode Innovation Trust.
Elsewhere, the Creative EDGE Award, facilitated by support from Creative UK, which champions, connects and promotes the development of the creative industries across the United Kingdom, gave a boost of £75,000 to SaaS live concert streaming service, Everyday People.
Deputy First Minister Kate Forbes said: ““Scottish EDGE has played a central role in supporting emerging entrepreneurial talent and innovative business ideas for many years and I am proud that the Scottish Government continues to be long standing partner of the awards.
“I am also pleased that a growing number of businesses and private investors are supporting the vision behind Scottish EDGE. Scotland’s entrepreneurs and start-up businesses are the lifeblood of our economy and we must do all we can to encourage and foster the incredible talent and innovation in evidence right across the country.”
Judith Cruickshank, MD Commercial Mid-Market at the Royal Bank of Scotland, said: “Congratulations to Ardent Training and all the winners of the 25th round of EDGE. Ardent is a fantastic example of a business that continues to scale and grow.
“We know that entrepreneurship is key to unlocking economic growth across the country and, through our involvement with Scottish EDGE, we celebrate these successes as well as the innovation and creativity taking place across the ecosystem.”
Jane Martin managing director of innovation and investment at Scottish Enterprise said:“Congratulations to all of the winners as well as the innovative team at Vanilla Farm the winner of the new Mission EDGE award and it will be exciting to see what is next in store for these agritech entrepreneurs.
“Mission EDGE reflects Scottish Enterprise’s focus on priorities around energy transition, boosting capital investment and scaling high-growth industries of the future such as industrial biotechnology.
“We are targeting our support to help deliver transformational change for Scotland’s economy and the Scottish EDGE awards uncover talented innovators that will shape the business landscape for generations to come.”
Evelyn McDonald, CEO of Scottish EDGE added:“Reaching our 25th round is a true testament to the resilience, ambition and creativity of Scotland’s entrepreneurial community.
“With every round, we continue to see businesses not just innovating, but actively contributing to a better future, whether it’s through sustainability, social impact, or cutting-edge technology.
“We’re incredibly proud to support them on their journeys and excited to see what the future holds for this new group of winners.”
The UK has secured ‘the best deal India has ever agreed’, providing businesses with security and confidence to trade with the fastest-growing economy in the G20.
The Prime Minister spoke to the Prime Minister of India Narendra Modi yesterday.
The leaders began by celebrating the landmark UK-India Free Trade Agreement announced today – a deal which will add billions to the UK economy, boost wages and deliver on this government’s Plan for Change.
In a huge economic win for the UK, delivering for working people and British businesses, the Prime Minister underscored the need to go further and faster to get things done, to secure and renew our country.
Through pragmatism and purpose, the leaders noted that this historic deal is the biggest the UK has done since leaving the EU, and the most ambitious India has ever done. Prime Minister Modi also thanked the Prime Minister for his decisive leadership in getting the deal over the line.
Turning to the terrorist attack in Jammu and Kashmir last month, the Prime Minister reiterated his deep condolences at the tragic and senseless loss of life.
Finally, Prime Minister Modi extended an invitation to India, which the Prime Minister was pleased to accept and said he looked forward to visiting India at the earliest opportunity.
UK-India Free Trade Deal: A Deal For Growth
The UK has secured the best deal India has ever agreed, providing businesses with security and confidence to trade with the fastest-growing economy in the G20.
Delivering Economic Growth
The core mission of this Government is to deliver economic growth that raises living standards and puts money in people’s pockets, and that is exactly what this deal will do. We estimate that it will increase bilateral trade by £25.5 billion, add £4.8billion a year to our economy and boost wages by £2.2 billion every year in the long run.footnote 1 This is the best deal India has ever agreed to.
It delivers on our manifesto commitment to create trade relationships that unlock new opportunities for businesses across all our nations and regions.
Case study – Standard Chartered
Standard Chartered is a leading UK-based international banking group with a presence in 53 of the world’s most dynamic markets. It is the largest and oldest foreign bank in India, acting as a ‘super connector’ of cross-border trade and investment by driving commerce and prosperity through its unique diversity for more than 165 years.
Saif Malik, CEO, UK and Head of Coverage, UK, Standard Chartered, said: “The UK-India Free Trade Agreement is a significant achievement. It will create new opportunities for UK and Indian businesses, enable greater access to one of the world’s largest and most dynamic markets, and drive growth and innovation across the UK-India corridor.
“We welcome this strong commitment to partnership and prosperity.”
Case study – UPS
UPS is one of the world’s largest companies, with 2024 revenue of $91.1 billion, and provides a broad range of integrated logistics solutions for customers in more than 200 countries and territories, including connecting the United Kingdom and India.
Markus Kessler, Managing Director, UPS UK, Ireland and Nordics, said: “We welcome the announcement of this important agreement between two countries that are both vital markets in our global network.
“We look forward to continuing to help businesses of all sizes across the UK reach new customers in one of the world’s most populous and dynamic countries.”
Future-Proofing Our Economy
This deal gives UK businesses first-mover advantage with a new economic superpower. Currently the biggest country in the world by population, India is projected to move from its fifth-largest global economy to third in the next three years, thanks to the highest growth rate in the G20.
By the end of the decade, it will be home to an estimated 60 million middle-class consumers, whose numbers are projected to grow to a quarter of a billion by 2050. And by 2035, their demand for imports is on course to top £1.4 trillion.
The enormous scope of this market, where British goods and services are already sought after, represents an equally huge opportunity for UK businesses in the decades to come.
Case study – John Smedley Ltd
Established in 1784 in Lea Mills, Derbyshire, John Smedley Ltd is a UK-based manufacturer and retailer of luxury knitwear.
Bill Leach, Global Sales Director, John Smedley Ltd, said: “India is one of the fastest growing luxury markets in the world, and we are very excited about the UK- India Free Trade Agreement coming to fruition.
“John Smedley knitwear is already sold in over 50 countries around the world, and now that the FTA has been finalised, we shall very much look forward to ensuring that an ever-increasing number of discerning luxury consumers in India will enjoy greater access to The World’s Finest Knitwear.
“We are thankful to DBT for their significant efforts in bringing this FTA to successful conclusion.”
Cutting costs for UK-India trade
From day one, this deal will support businesses across the United Kingdom by making it cheaper, easier, and quicker to trade with India. The deal will slash costs on UK exports, including whiskies and gin, cosmetics, medical devices, advanced machinery and lamb.
Based on current trade alone, India’s tariff cuts amount to £400m in the first year, going up around £900m after 10 years. And that’s before factoring in the savings from speedier and easier trade from improved customs and digital commitments. This immediate relief represents a major advantage our businesses will enjoy over their international competitors, helping them to invest, expand, and support more high-quality jobs.
Case study – Smith+Nephew
Smith+Nephew designs and manufactures technology that takes the limits off living. Smith+Nephew’s products include: Advanced Wound Management; orthopaedics and a robot assisted surgery system; and joint preservation and soft tissue orthopaedics.
Deepak Nath, Chief Executive Officer, Smith+Nephew, said: “Given the size of the Indian economy and its healthcare system, India is an important location for Smith+Nephew. The Free Trade Agreement offers the potential to build trading links in the healthcare sector.
“We hope that the Free Trade Agreement will enable Smith+Nephew’s innovative medical technologies to support more healthcare professionals to return their patients to health and mobility.”
Delivering opportunities for High-Growth Sectors
This deal supports the UK’s world-leading high-growth sectors identified in the Industrial Strategy, including:
Slashing tariffs for UK’s large and varied advanced manufacturing sectors, including for automotives, electrical machinery and high-end optical products.
Giving the clean energy industry brand new and unprecedented access to India’s vast procurement market, as India makes the switch to renewable energy, alongside their growing energy demand.
Unlocking new opportunities for medical devices firms within the life sciences sector, with reduced tariffs and rules of origin that factor in the UK’s complex supply chains and ensure that businesses can reap the benefits.
Enshrining copyright protections for the creative sector, enabling our exporters to feel confident exporting to India with a commitment that works will continue to be protected for at least 60 years. India will also commit to engaging on aspects of Copyright and Related Rights. This deal addresses the interests of UK creators, rights holders, and consumers, including around Public Performance Rights and Artist Resale Rights, which acknowledge the importance of payment rights. India will also conduct an internal review of their copyright protection terms.
Guaranteeing access for the UK’s world-class financial and professional business services sectors to India’s growing market. This is on top of securing India’s foreign investment cap for the insurance sector, ensuring UK financial services companies are treated equally to domestic suppliers, and encouraging the recognition of professional qualifications.
Securing India’s best ever commitments on digital trade for our Digital and technology sectors, such as promoting digital systems and paperless trade, helping UK businesses of all sizes take the opportunities on offer in this huge and rapidly expanding market.
Case study – Premier League
The Premier League is the world’s most-watched football competition, reaching 1.6 billion viewers in 189 countries around the world. The global success of the Premier League makes it one of the UK’s most significant soft power assets, amplifying British cultural values and generating economic growth and inward investment.
Premier League Chief Executive Richard Masters said: “India continues to be incredibly important to the Premier League and its clubs. It is a vibrant country that presents exciting opportunities and significant potential.
“The Premier League’s recent announcement of an office opening in Mumbai demonstrates our commitment to build on longstanding work to engage local fans, develop grassroots and elite football and further promote the game in India.
“The continued growth of the Premier League and UK businesses in India will have a positive impact on our domestic economy and we welcome the news of this new trade deal secured by Government, which will support UK businesses operating in India.”
Case study – EY
EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions. Fuelled by sector insights, a globally connected, multidisciplinary network and a diverse ecosystem of partners, EY teams provide services in more than 150 countries and territories.
Rohan Malik, EMEIA and UKI Government & Public Sector Managing Partner, EY, said: “This agreement is poised to accelerate an economic partnership that is already thriving, with the value of total trade between the UK and India having more than doubled from £16.6bn to £40bn over the last decade.
“British businesses stand to benefit substantially from enhanced access to one of the world’s largest export markets and a skills pool that can fuel strategically important UK sectors, including professional services and emerging industries based around data and AI.”
Case study – Concrete Canvas Ltd
Concrete Canvas Ltd is a Wales-based low-carbon concrete manufacturer.
William Crawford, Director of Concrete Canvas Ltd, said: “India is a dynamic and vibrant economy and an increasingly important market for Concrete Canvas products.
“A UK-India FTA will help to accelerate our plans for growth by reducing trade barriers and making us more competitive.
“This is welcome news for both UK and Indian businesses!”
Case study – Biopanda
Biopanda is a Belfast-based medtech manufacturer which exports in vitro test kits for clinical laboratories, veterinary practice, and food safety laboratories.
Philip McKee, Sales Manager at Biopanda, said: “Biopanda have been supplying a range of diagnostic products to the Indian market throughout the past ten years.
“We value the business we have done already throughout India and with the introduction of the UK-India FTA this should benefit in increased trade with the removal of export barriers.
“This will hopefully increase the market access, allowing our distributors throughout India to provide a larger range of our highly accurate clinical diagnostic products at a lower price to the consumer.”
Unlocking Opportunities Nationwide
Through our Plan for Change, this government will raise living standards in every part of the United Kingdom. This deal supports that goal, unlocking new opportunities in every region and nation.
This deal also opens a huge new market for iconic UK brands, securing India’s best ever tariff offer and providing access to India’s growing middle-class consumer base, which will give iconic UK brands the opportunity to expand their reach and influence.
This access includes cutting tariffs on whiskies from 150% to 75% at entry into force, following to 40% after 10 years, as well as on other agri-food products such as soft drinks dropping from 33% to 0% after seven years, and lamb dropping from 33% to 0% at entry into force.
Separately high-end cars will benefit from a drop from over 100% to 10% under a quota. We have also secured India’s best ever agreement on Rules of Origin, which enables UK businesses to take advantage of these new lower tariffs.
This deal will also support consumers as they benefit from the best of India and greater variety as our trading relationship grows, including clothing, footwear, and iconic food and drink. New commitments will also help protect consumers from spam texts from India, which could include requiring opt-out or prior consent.
Case study – Chivas Brothers Ltd
Chivas Brothers Ltd is part of the Pernod Ricard group of companies and exports over £2bn of Scotch whisky and gin every year, including brands like Chivas Regal, Ballantine’s, The Glenlivet and Beefeater.
India is amongst Chivas Brothers’ largest export markets and the biggest consumer of whisky worldwide by volume.
The UK-India trade agreement will help solidify and potentially expand on Pernod Ricard’s existing investments, which includes a €200m distillery construction in the Indian state of Maharashtra and £100m in bottling facilities in Dumbarton, Scotland.
Jean-Etienne Gourgues, Chivas Brothers Chairman and CEO, said: “The announcement of a free trade agreement in principle between the UK and India is a welcome boost for Chivas Brothers during an uncertain global economic environment.
“India is the world’s biggest whisky market by volume and greater access will be a game changer for the export of our Scotch whisky brands, such as Chivas Regal and Ballantine’s.
“The deal will support long term investment and jobs in our distilleries and bottling plants in Scotland, as well as help deliver growth in both Scotland and India over the next decade. Slàinte to the UK Ministers and officials who steered the deal though long negotiations.
Case study – Diageo
Diageo is a global leader in beverage alcohol with a collection of brands across spirits and beer categories sold in more than 180 countries around the world. These brands include Johnnie Walker, Crown Royal, J&B and Buchanan’s whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness.
Diageo is a leading player in India’s beverage alcohol sector and is among the top 10 fast-moving consumer goods companies in India by market capitalisation.
Diageo has 50 manufacturing facilities across India, employs over 3,300 people directly in market with a further 100,000 jobs supported throughout its value chain. India is one of Diageo’s largest markets globally and accounts for almost half of its total global spirits volume.
Diageo Chief Executive Debra Crew said: “The UK-India Free Trade Agreement is a huge achievement by Prime Ministers Modi and Starmer and Ministers Goyal and Reynolds, and all of us at Diageo toast their success. It will be transformational for Scotch and Scotland, while powering jobs and investment in both India and the UK.
“The deal will also increase quality and choice for discerning consumers across India, the world’s largest and most exciting whisky market.”
Enhancing Security through our partnership
The UK and India already enjoy a deep and broad partnership built on our shared principles as two democracies, our commitment to the rules-based international order, strong ties in areas including culture, education, food, and sport, and of course through our living bridge – with some 1.9 million people with Indian heritage calling the UK their home.footnote 6
This agreement encourages collaboration between our two complementary economies. It creates a framework to promote closer ties on innovation – including on new technologies in areas like agriculture, health, advanced manufacturing, and clean energy. And our agreement on business mobility will help experts on both sides deliver their services, enabling us to capitalise on the economic transformation that technology will bring over the course of this century.
Through this deal, we are showing the world that we stand for free, fair, and open trade. In an increasingly unstable and volatile world, this provides businesses with the confidence that they need to grow and expand. And as India’s approach to global trade changes, so can this deal. We have agreed in numerous areas that, if India offer a better deal to a different country, we can come back to the table to renegotiate for the UK.
Case study – Coltraco Ultrasonics
Coltraco Ultrasonics are high-exporting advanced manufacturers of ultrasonic instrumentation and systems, exporting 90% manufactured output to 120 countries. Coltraco have twice won the Queen’s Award for Enterprise in International Trade and have exported to India for 30 years.
Since 2019, Coltraco have won the contract for nearly 200 ships of the Indian Navy and Coast Guard and support in-service use and maintenance of their ultrasonic watertight integrity instrumentation on board.
Professor Carl Stephen Patrick Hunter OBE, Chairman Coltraco Ultrasonics Limited & Director-General The Durham Institute of Research, Development & Invention, said: “Coltraco Ultrasonics is strongly supportive of the India FTA Trade Agreement and proud to have modestly contributed to and advising the British negotiating team on various chapters.
“The UK private sector can now, because of the India FTA, the Windsor Framework CPTPP, and a variety of other UK FTAs, look out to the world, balancing our exporting and investment opportunities between the USA, the EU and Asia Pacific.
“It is a tremendous success and we thank British and Indian Civil Servants for their public service in the UK-India FTA.”
Unlocking Access to India’s Untapped Procurement Market
For the first time, UK businesses will have guaranteed and unprecedented access to India’s vast procurement market, covering goods, services and construction. UK businesses will be granted brand new access to approximately 40,000 tenders with a value of at least £38 billion a year.
This will unlock significant opportunities spanning a range of sectors, including transport, healthcare and life sciences and green energy. Alongside this UK firms will, for the first time, have access to India’s procurement portal, connecting them to the information they need to make the best out of these opportunities – which will grow as India builds the infrastructure necessary for an economic superpower with the world’s largest population.
UK companies will also get exclusive treatment under the ‘Make in India’ policy, which currently provides preferential treatment for federal government procurement to businesses who manufacture or produce in India. However, this unprecedented treatment will mean that if at least 20% of a company’s product or service is from the UK, they will be treated as a ‘Class Two local supplier’– granting them the same status that is currently only ever given to Indian businesses.
Case study – Arup
Arup is an employee-owned business that provides engineering and technical and advisory services dedicated to sustainable development. It is headquartered in the UK and operates globally with around 18,000 members. It is a trusted partner of the government in India and has delivered a wide range of projects including the Bangalore international airport, the iconic Statue of Unity, and the Indian Railways Station Redevelopment programme.
Paula Walsh, Managing Director, UK, India, Middle East and Africa, said: “Arup supports the UK–India Free Trade Agreement and the powerful role this will play in boosting investment, jobs and growth.
“It is an important opportunity to deepen our collaboration with partners in India, sharing UK skills and technical expertise to deliver resilient and future-focused solutions across transport, energy, and the built environment.
“We are proud to have been part of a recent delegation to India, sharing renewable energy expertise with government representatives and look forward to continuing this critical partnership.”
Protecting Our Values
Throughout the negotiations, we have championed our values – securing India’s first ever chapters on anti-corruption, consumer protections, labour rights, the environment, gender equality, and development.
We have protected the NHS, defended the UK’s interests, ensured the points-based immigration system is not affected, upheld our high food standards, and maintained our animal welfare commitments throughout.
This deal demonstrates our commitment to both workers and businesses, staying true to our values while driving economic growth.
Most children in the UK have ambitions to start their own business in future and would like to learn some of the skills that are needed to do so when they’re at school.
The findings come from new research* of 1,000 children aged 9 – 11, revealing their financial habits and entrepreneurial aspirations.
The results show that over two-thirds (71%) of children want to learn about starting their own business at school, while four in five (83%) aspire to start their own business in the future.
The study, commissioned by Virgin Money, also found that children understand the value of saving, with 88% having saved money for something specific before, saving £57 on average.
Despite the rise in digital transactions over recent years, cash remains a crucial part of children’s financial education. The research shows that almost half (47%) of children save their money in a piggy bank or money box, and 44% use cash when paying for things.
Parents play a crucial role in financial education, with a remarkable 82% of children saying they learn how to manage their finances from their parents. The survey also found that 92% of children are engaging in conversations about money with their parents or guardians, highlighting the importance of family time in financial education.
Children also recognise the value of investing, with around two-thirds (64%) preferring to invest to earn more in the future rather than spend it, if they were given £5.
The research by Virgin Money was undertaken to understand more about children’s views on money and entrepreneurship, as part of its Make £5 Grow programme. This programme is designed to develop financial literacy and entrepreneurial skills in 9-11 year olds across the UK, and over 200,000 pupils from over 3,000 schools have so far taken part.
Newport Primary School, in Brough East Yorkshire, has participated in the Make £5 Grow programme since 2020. Their involvement began when a planned school trip to Northumberland was cancelled due to Covid restrictions. In response, the school organised a unique experience for the students by setting up a school camp-out and expanding it into a larger entrepreneurial project.
Since being involved in Make £5 Grow, the students have engaged in various business ideas, including car washing, homemade sweet treats, ice creams, making arts, crafts, and jewellery.
The funds raised from these ventures contribute to a Mini Festival for the students, featuring a silent disco, DJ, ice cream van, pizza trailer, stuntman performances, popcorn machines, and inflatables for the entire school to enjoy. Additionally, the money has been used to purchase scripts and music for the end-of-year school production. This project has not only provided fun and excitement but also fostered a sense of responsibility and teamwork among the students.
Amy Earl, teacher at Newport Primary School said: “The children count down the days until we start the Make £5 Grow project. They work so hard and deserve to make memories that last a lifetime while sharpening their entrepreneurial skills.
“With the incredible support of their families, who help sell these items rain or shine, the children have gained invaluable entrepreneurial skills and created lasting memories. I would always recommend, and have recommended, this project to other schools and teachers.”
Jasmin Sanghera, community manager at Virgin Money said: “Entrepreneurship is a key driver of growth in our economy, so it’s vital that we help to foster the skills needed from a young age.
“Make £5 Grow is designed to empower children with the knowledge and confidence to pursue their business dreams, and we are thrilled to see such strong interest in learning about this from young people.”
Children participating in Make £5 Grow are encouraged to develop innovative business ideas and generate a profit for their school, using a £5 loan per child from Virgin Money. The programme provides pupils with an insight into how the world of business and finance works.
It helps them to build key money management skills by starting a small business, with access to a Make £5 Grow Ambassador for business support and a suite of curriculum-based classroom tools, which have recently been accredited as a financial education resource by Young Enterprise.
The schools keep any profit made after repaying the initial £5 loan.
Through this initiative, Virgin Money aims to empower the next generation to save, invest, and pursue their entrepreneurial dreams, building a financially literate and economically resilient future.
Visit is ‘Opportunity to promote strong business links with US’
First Minister John Swinney will undertake a series of engagements in New York as part of Tartan Week, the annual celebration of Scottish heritage and culture in the United States.
In recognition of the important role of the US as a key investment and trading partner, the First Minister will meet a number of high profile current and potential investors to promote the economic opportunities on offer in Scotland.
Speaking ahead of his visit, the First Minister said: “Scotland enjoys deep and enduring links with the US, which is both our largest inward investor, and second largest export market after the European Union.
“In 2023, exports of Scottish goods to the US were worth £4 billion. And here in Scotland, more than 700 US-owned enterprises provide employment to more than 115,000 people.
“Scotland is open for business and is one of the best places in the world to invest. We have a reputation as a world-class entrepreneurial nation, with the number of start-ups, spinouts, and scale up companies growing at pace.
“We also have the potential to become a strategic hub for future renewable energy investments, specifically by developing and scaling projects in offshore wind, green hydrogen, and energy storage.
“Tartan Week in April is a fantastic opportunity to celebrate Scottish culture, and promote economic opportunities on both sides of the Atlantic.
“I am looking forward to attending this week’s Tartan Week events, meeting our dynamic diaspora, and engaging with some of our biggest current and potential investors. I want to showcase Scotland’s progressive international outlook, and our focus on innovation, sustainability and growth.”
Alan Cumming is Grand Marshal of the 2025 NYC Tartan Day Parade.
Local authorities could be given the optional power to introduce a tax on cruise ships that visit their areas in future.
The Scottish Government is seeking views on the practicalities of such a levy, as well as the potential market implications and effect on local economies and communities.
Analysis shows there were around 1,000 cruise ship visits to Scottish ports in 2024, bringing 1.2 million passengers – an increase of almost 400,000 per year compared with 2019.
Finance Secretary Shona Robison said: “The tourism sector is a crucially important part of the Scottish economy and cruise visits are increasing. The consultation will help to inform the Scottish Government’s decision over whether or not to bring forward legislation and it is really important that we hear from a wide variety of voices on this matter.
“Last year, we held events to hear the views of the cruise ship industry, local government, and others. We want to continue the helpful dialogue which started at those events, and explore further what a cruise ship levy could mean in a Scottish context.”
The Scottish Government has no plans to introduce a nationwide cruise ship levy.
The areas that welcome the most cruise passengers are Invergordon, Orkney, Edinburgh, Lerwick, and Greenock, and the average ship in the five busiest ports carries over 1,000 passengers.
DLA Piper returns to 2025 with more rewarding network events for next generation professionals following resounding success last year. This latest event is taking place on 26 February in Edinburgh.
Upcoming Professionals (UP) is a first of its kind, bespoke initiative developed by DLA Piper dedicated to supporting the next generation of professionals in the Scotland marketplace across all business sectors.
Relaunched early last year, UP has been acclaimed by business leaders across Scotland with market feedback indicating its significant positive impact on the professional community in Scotland.
Simon Rae DLA Piper’s Managing Partner in Scotland, said:“We recognise next generation professionals are key in driving success in the business place – now and in the future.
“Our UP initiative provides an excellent opportunity for young professionals to share ideas and best practices with key players in the industry, aiming to build their experience and confidence in developing business.
“The network is leading the way in supporting the young professionals of Scotland and is committed to furthering the already vibrant and dynamic business community. I strongly encourage those at the early stage of their career to engage with and leverage UP to experience the benefits themselves.”
For more information about DLA Piper’s UP network and the first 2025 event in Edinburgh contact angela.saunders@dlapiper.com in the first instance.
More than £1.9 million has been awarded to create the entrepreneurs of the future and to increase access to business careers.
Pupils will have the opportunity to learn about business from primary one to the end of high school for the first time under a new initiative to boost entrepreneurship in Scotland. This follows more than £829,000 being awarded to seven education organisations.
They include Gen+, which is designing lessons that set high school pupils real-world challenges by established entrepreneurs, focused on running aspects of a business, while the University of Strathclyde will provide activity packs that develop entrepreneurial skills in primary school children.
Adults under-represented in business, including women and ethnic minorities, will benefit from £1.08 million awarded to 13 organisations through the Pathways Fund, helping turn their ideas and fledgling businesses into growing enterprises.
Deputy First Minister Kate Forbes visited pupils at Braes High School in Falkirk to see some of the entrepreneurial projects they have been working on.
Ms Forbes said: “These projects mean that for the first time entrepreneurship will be embedded in Scotland’s classrooms, from P1 to S6. By mainstreaming the subject we aim to give every school leaver the skills, confidence and opportunity to set up their own business.
“This is a continuation of the Scottish Government’s drive to create one of Europe’s leading start-up economies. Existing entrepreneurs are already being supported, including by our successful Techscaler programme. Now, through these two funds, we are developing the next generation.
“I want young people and under-represented groups to be excited by the idea of going into business, to understand it’s something they can do.”
CEO of Gen+ Victoria Vardy said:“At Gen+, we believe education should inspire young people to become adaptable, self-aware, and ready for the future.
“ Our Industry Innovators programme connects classroom learning with insights from real-world business challenges, helping pupils understand and develop the core skills that lead to success across industries.“
By learning directly from industry experts, students gain the confidence and practical skills to turn their ambitions into reality, empowering them to become Scotland’s future entrepreneurs and leaders of tomorrow.”
The Entrepreneurial Education Pathways Fund totals £829,346
Successful recipients of the Entrepreneurial Education Pathways Fund:
University of Strathclyde – Meet the RECCO Family (£80,994): To support the development of illustrated digital educational resources for the development of an entrepreneurial mindset in early primary school children (P1-3).
Daydream Believers – Dreamers and Doers (£146,200): To develop the Dreamers and Doers playlist creating three entrepreneurial challenges to promote creativity, innovation and problem-solving, integrated into the existing SCQF Creative Thinking qualification.
Gen+ – Industry Innovators (£79,834): To equip S1-S3 students with essential entrepreneurial skills, structured around specific skills and aligned with a real-world challenge set by local businesses.
Socialudo – Playing the Pathway to Entrepreneurship (£49,861): To co-produce and develop the game ‘Social Deal’ to provide a creative training package for use in both primary and secondary school level, introducing the different elements of business planning and business models.
Founders4Schools – Role Models for the entrepreneurs of tomorrow (£157,025): To scale their network of role models in Scotland, particularly in under-represented groups and develop their platform to ensure every educator has easy access to a network of entrepreneurs for S1-S6 pupils.
Powering Futures – Challenge for Education (£250,000): To deliver three programmes to enhance the understanding of the entrepreneurial mindset and the pathway to embed this work in future generations.
High School of Glasgow – START (£65,405): To develop a pilot for an interdisciplinary learning programme for Scottish schools. Teams of S6 pupils will be guided from problem solving to seed investment pitch and the pilot programme will take place in a select group of local authority schools in Glasgow and Edinburgh.
The Pathways Fund totals £1.08 million
Successful recipients of the Pathways Fund:
Business Women Scotland – Programme for Growth (£40,000): Support for women in business, addressing the challenges they face in achieving significant growth through a comprehensive 2-day seminar and personalised guidance from
GrowBiz – Developing Women’s Rural Enterprises (£106,505): Supporting women and other underrepresented groups across rural and island areas of Scotland who are either considering self-employment, seeking to grow a venture, or considering ways of becoming a greener business.
Orkney Island Council – Entrepreneurial Islands project (£65,350): A coaching and mentoring programme for the Orkney islands to access tailored support, building enthusiasm and encouraging new business start-ups, while assisting business funding applications.
Investing Women Ltd – AccelerateHER (£200,000): This project delivers educational programmes and networking opportunities across Scotland to tackle the gender gap in accessing investment, by providing female business founders with relevant knowledge, skillsets, connections and opportunities needed to grow and scale their businesses.
Rebel Business School (Enjoy Training Ltd) – How to Start & Scale a Business for Female Founders (£49,970): Workshop programme will be delivered both virtually and in Glasgow to support women begin their journey.
Together Reaching Higher – Entrepreneurial Empowerment Pathways Hub (£52,590): This will transform a temporary simple drop-in service into a permanent, sustainable resource Hub for ethnic minorities in Glasgow, focusing on women. This will support aspiring entrepreneurs with mentorship, training, and resources to develop their social enterprises.
Inspirent Ltd – Women Can Grow! Bootcamp (£129,200): Building on from the success of Women Can! in 2023/24 this programme will provide women with practical support to move their startup beyond the initial planning, or early stage, to implementation within Glasgow, North and South Lanarkshire.
Challenges Catalyst – Ready to RISE (Readiness & Incubation for the Social Economy) (£96,974): This programme, delivered in suburban areas of the central belt and Tayside, is aimed at mothers and others whose work prospects have been impacted by a career break because of caring responsibilities, migration, or health issues.
Edinburgh Chambers of Commerce – Women in Business: Entrepreneurial Growth Programme (£57,575): A programme to empower female founders with established businesses to expand, grow, and attract investment through training, coaching, and opportunities to connect with fellow female entrepreneurs in the Edinburgh region.
PeoplePlus – Supporting Women in Enterprise (£74,037): Supporting women within marginalised communities in Glasgow through a 12-week programme where Business Advisers will provide tailored business advice, training, and networking opportunities.
Robert Gordon University – RGU Women in Business: Starting up (£55,292): A 7-week flexible online enterprise programme offering expert consultancy support, and networking opportunities based in Aberdeenshire, tailored to the needs of mothers and care-givers.
Business Gateway East Renfrewshire – Black, Asian and Minority Ethnic Business Accelerator For East Renfrewshire (£95,850): Seminars, workshops, events and direct 1-2-1 support to businesses within the Black and Asian Minority and Ethnic community in East Renfrewshire.
West Lothian Council – Women Entrepreneurs Growth Programme (£57,630): Workshops to support women in West Lothian from pre-start to pre-investment, providing networking and commercial pop-up shop opportunities.
The latest edition of the Amazon Economic Impact Report is released today, and the figures show that since 2010, Amazon has invested more than £3.5 billion in Scotland. The figures are taken from the latest Amazon Economic Impact Hub, which details the investments made by Amazon across the UK since 2010.
The 2024 Amazon UK Economic Impact Hub features data on the number of jobs Amazon has created regionally and the level of the company’s economic activity supported by its investments. The figures also show the number of local, independent SMEs supported by Amazon and the export sales achieved by businesses who sell products on Amazon.
The 2024 Amazon Economic Impact Report reveals:
Since 2010, Amazon has invested around £2.6 billion in Eastern Scotland and over £3.5 billion in Scotland.
This investment led to the production of goods and services that contributed over an estimated £3 billion to Scotland’s GDP since 2010.
To date, Amazon has created around 3,000 full and part-time jobs in Scotland.
More than 130 people in Scotland have completed Amazon’s employability skills training programme since 2010.
More than 200 apprentices in Scotland have qualified from the Amazon Apprenticeship programme since 2010.
In Scotland, there are around 4,000 small and medium-sized businesses selling on Amazon as independent selling partners.
Small businesses from Scotland selling on Amazon recorded over £160 million of export sales in 2023. Small businesses in Eastern Scotland selling on Amazon recorded over £85 million of export sales in 2023.
The Big House Multibank in Fife, co-founded by Amazon and former Prime Minister Gordon Brown in 2022, has donated over 2 million surplus goods to families in need across Scotland
Jamie Strain, General Manager at Amazon in Dunfermline, said: “We’re passionate about supporting the regional economy and the wider Scottish community through investments, job creation, charity donations and volunteering.
“Amazon continues to make a positive impact, including upskilling our employees and helping small businesses in our community reach new heights.
“While we continue to invest in the regional economy, we’re also stepping up our support of community organisations in Dunfermline.
“In 2024, our team has supported a wide range of organisations including Scot Baby Box Appeal, Lochgelly High School and CHAS through employee volunteering, product donations and financial support.
“We’re excited to continue supporting good causes over the coming months while we deliver for customers, sellers and communities.”
Total of £63 billion of private investment committed around International Investment Summit, more than doubling amount secured at 2023 Global Investment Summit
New investments today include £6.3 billion in UK data centres as well as world class UK university Imperial College London
Innovative investment projects announced over the last month across infrastructure, renewables and life sciences will create close to 38,000 new jobs across the UK
Nearly 38,000 UK jobs are set to be created across the UK after a total of £63 billion of investment was announced around today’s International Investment Summit, turbocharging growth and innovation across the country.
The record-breaking total figure more than doubles the £29.5 billion committed at last year’s Global Investment Summit and spans partnerships across the infrastructure and tech sectors, including over a billion pounds in new investments announced today by DP World, Associated British Ports (ABP) and Imperial College London.
Through serious, stable governance, the UK is attracting tens of billions of pounds of new investment which is crucial to the government’s driving mission of delivering economic growth. Today’s historic figure demonstrates that businesses have confidence in Britain as a place to invest.
The investments follow immediate action taken by the new government to reform planning, focus on AI and data centre expansion, and set a clear commitment to net zero by almost doubling the funding for renewable energy projects.
Four major tech firms based in the US have today announced £6.3 billion in UK data centres which is critical to enhancing the UK’s AI capacity – in turn fuelling Britain’s economic growth and spurring on AI development. Data centres store the vast amount of information and data needed to power AI, and store the information generated by AI to keep the systems running.
ABP, the UK’s largest port operator, has committed over £200 million to a joint investment with ferry company Stena Line in a new freight ferry terminal at the Port of Immingham, significantly boosting the capacity and resilience of UK trade with Europe. It is expected to create around 700 jobs during construction and around 200 permanent jobs once operational.
Leading UK university Imperial College London is also today announcing a £150 million investment to secure a new R&D campus to add to its rapidly expanding deep tech ecosystem in West London. The new campus will expand scale-up capacity in the WestTech Corridor, supporting the UK’s innovation sector and driving investment, economic growth and job creation.
Business and Trade Secretary Jonathan Reynolds said: “Global investors should be in no doubt that under this new government Britain is truly the best place to do business. The record-breaking investment total secured at today’s Summit marks a major vote of confidence in the UK and our stability dividend across industry and innovation.
“We’re determined to deliver economic growth in every part of the UK and these investments, together with our forthcoming Industrial Strategy, will give global businesses the certainty they need as we lead the charge for the innovation and jobs of the future.”
Chancellor of the Exchequer Rachel Reeves said: “After the investments secured as part of this summit, my optimism for Britain burns brighter than ever. It’s a sign of the confidence in the British economy.
“And it matters because it will support the growth of businesses big and small across the U.K. Helping them create new jobs and making people better off.
CEO of ABP Henrik L. Pedersen said: “We are delighted that the Development Consent Order (DCO) for the Immingham Eastern Ro-Ro Terminal (IERRT) has been granted in a timely way by the Secretary of State to allow us to move forward with investment.
“The IERRT project is a key component of our strategy to strengthen the UK’s supply chains and improve trade connectivity, whilst also bringing substantial economic benefits including the creation of hundreds of jobs during construction and ongoing operations.
“IERRT forms part of the intended £5.5bn pipeline of UK investment we have in front of us over the next 10 years and we look forward to working closely with the Government to deliver the right conditions to realise this investment.”
President of Imperial College London Hugh Brady said:“Imperial College London is investing in its ambitious vision for a new globally competitive deep tech innovation ecosystem in West London.
“The Imperial WestTech Corridor will act as a powerful engine for investment, inclusive economic growth, and job creation at a local, regional, and national level supported by the Government’s emerging Industrial Strategy.
See below for a list of all the investments announced in the run-up to and during yesterday’s International Investment Summit:
Iberdrola doubling their investment in the UK, through Scottish Power, from £12 billion to £24 billion over the next 4 years. This includes £4 billion for the East Anglia 2 wind farm off the Suffolk coast which was unlocked by this Government’s expanded allocation at the most recent wind auction round. Iberdrola Executive Chairman Ignacio Galan CBE confirmed on Friday that the UK has become their largest Investment destination.
Blackstone confirmed a £10 billion investment in Blyth, Northumberland to create one of the largest artificial data centres in Europe, creating 4,000 jobs, including 1,200 roles dedicated to the construction of the site.
Amazon Web Services announced an £8 billion investment last month which is estimated to support around 14,000 jobs per year at local businesses, including those across the company’s data centre supply chain such as construction, facility, maintenance, engineering and telecommunications.
CCUS investors (including Eni, BP and Equinor) reached a commercial agreement with the government that will unlock £8 billion of private investment to launch carbon capture clusters in the heartlands of the North West and North East of England, directly creating 4,000 jobs and supporting 50,000 jobs in the long-term.
Orsted and Greenvolt confirming that the Government’s recent expanded offshore wind auction means their projects will unlock £8 billion (Orsted) and £2.5 billion (Greenvolt) of investment respectively in their planned offshore wind farms. Orsted says its commitment will see thousands of jobs for local people, while Greenvolt says it will create up to 2800 construction jobs.
CyrusOne, a leading global data centre developer headquartered in the United States, announced plans to expand their investment into the UK to £2.5 billion over the coming years. Subject to planning permission, the two data centres should be operational by Q4 2028, projected to create over 1,000 jobs both directly and within its immediate design and construction value chain.
Octopus Energy have committed to a £2 billion investment in renewable energy generation, including four new solar farms in Bristol, Essex, East Riding of Yorkshire and Wiltshire that will power up to 80,000 homes as well as breaking ground on a new 12 MW battery in Cheshire which Octopus say will store enough power for nearly 10,000 homes every day.
SeAH Wind has made an additional £225 million investment into wind technology manufacturing in Teesside, thanks to new backing from UK Export Finance, and expects to create 750 direct jobs by 2027. This brings their total investment into the site at Teesworks up to £900 million and will help them make their ongoing factory build – one of the biggest facilities of its kind worldwide – even bigger.
CloudHQ is developing its new state-of-the-art £1.9 billion data centre campus in Didcot. The hyper-scale data centre is currently in development and will help meet the UK’s growing demand for AI and machine learning. It will create 1,500 jobs during construction, and 100 permanent jobs once fully operational.
Macquarie supporting investment of £1.3 billion into new green infrastructure including its Island Green Power solar farm in Stow, as a result of planning consents having been granted by the Government, and its Roadchef portfolio company installing electric car ultra-fast charging points across its sites along the UK motorway network.
ServiceNow also confirmed its commitment to the UK market, with plans to invest £1.15 billion into its UK business over the next five years. The investment will not only support the future development of AI in the UK, expanding its data centres with Nvidia GPUs for local processing data, but also support new office space as the company significantly grows into employee base beyond its current headcount of 1,000 employees.
Manchester Airports Group is investing more than £1.1 billion in London Stansted Airport to expand its existing terminal by around a third, help secure new air routes to key business and leisure destinations, boost local supply chains and create 5,000 jobs. This includes around £600 million to extend the terminal and £500 million to deliver a suite of improvements to the existing terminal building and wider airport estate.
Eren Holdings confirmed a £1 billion investment in the redevelopment of Shotton Mill in Deeside, North Wales which is set to become the UK’s largest recycled paper manufacturing campus. This is expected to safeguard 147 jobs and create a further 220 when the site is fully commissioned.
Network Rail and London & Continental Railways are creating a new property company which will attract additional private and public sector investment with the potential to deliver brownfield regeneration schemes across the rail estate with a value exceeding £1 billion.
CoreWeave is building on its £1 billion investment announced in May and the opening of its European headquarters in London by investing a further £750 million-plus in the UK to support the demand for critical AI infrastructure. The investment in the UK is CoreWeave’s second largest investment in a country following the USA.
DP World are investing up to £1 billion in their London Gateway container port operation. This new investment will fund two additional berths and a second rail terminal. Once built, the berths will add vital transport capacity and increase the resilience of UK supply chains, enabling businesses to access domestic and international markets and supporting the Government’s growth and decarbonisation missions.
Holtec, a major US advanced nuclear engineering company, has confirmed a significant investment of £325 million in a new factory in South Yorkshire which will supply materials for civil and defence nuclear industries. They say this will create up to 490 direct and 280 indirect jobs annually during the construction phase and 1,200 direct engineering jobs created over 20 years.
BW Group proceeding with a £500 million investment, which includes new battery energy storage projects in Hampshire and Birmingham.
Eli Lilly and Company is collaborating with government through a memorandum of understanding which will see the pharmaceutical giant intending to commit £279 million to tackle significant health challenges – including obesity. Lilly also plans to launch the first ‘Lilly Gateway Labs’ innovation accelerator in Europe to support early-stage life sciences businesses to develop transformative medicines and technologies.
Associated British Ports (ABP), the UK’s largest port operator, has announced a £200+ million investment in a new freight ferry terminal at the Port of Immingham, boosting the capacity and resilience of UK trade with Europe. This is expected to create around 700 jobs during construction and 200 permanent jobs once operational.
Imperial College London investing £150 million to build The WestTech Corridor – a new innovation ecosystem in West London which will act as a powerful engine for investment, inclusive economic growth, and job creation at a local, regional, and national level.
Haleon has received planning permission to develop a new £130 million Global Oral Health Innovation Centre in Weybridge, Surrey. This state-of-the-art facility will primarily support Haleon’s global oral health business by developing new products that advance consumers’ better everyday health.
